Hadiza Bala Usman: NPA remitted ALL surplus funds

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Abuja – Twenty-four hours after refuting allegations of failing remit the operating surplus of the Authority (NPA) the consolidated revenue fund (CFR), Hadiza Bala Usman was suspended as the managing director of the NPA.

In a letter dated May 5, 2021, a copy of which was obtained by TheCable, Usman told Ibrahim Gambari, chief of staff , the purported failure of the NPA to remit an outstanding balance of N165.32 billion 2017 to 2018 was a misrepresentation of facts.

She said contrary to the figures given by the as outstanding operating surplus, the NPA had remitted all was due to the CFR — as stipulated in the fiscal responsibility act of 2007.

However, it was too by the her letter came as the cold between her and Rotimi Amaechi, the minister of transportation who supervises NPA, was already on the cusp of boiling .


After a failed attempt to get external auditors to audit NPA’s books — which Adolphus Aghughu, the auditor-general of the , said had been audited — Amaechi wrote Buhari via a March 4 letter to complain the NPA had not remitted an “operating surplus of N165 billion to the consolidated revenue fund account (CFR) 2o16 till date”, citing information the .

Acting on the letter and subsequent correspondences, Gambari asked the suspended NPA MD to forward records of the agency’s remittance of operating surplus.

By then, Amaechi had furnished the presidency with financial records provided by the , in which NPA’s net profit was listed as N133.08 billion (2017), N88.79 billion (2018), N73.92 billion (2019) and N71.59 billion (Q1 – Q3 of 2020).


In her response to Gambari, Usman faulted the net profit as listed by the budget office, saying it was in excess of the actual amounts and that it was contrary to the template provided by the fiscal responsibility act.

In a March 2 letter to the ministry of transportation, the budget office had said that the NPA’s operating surpluses were N133.084 billion and N88.79 billion for 2017 and 2018 respectively.

But on the contrary, Usman informed the presidency that the NPA had N76.782 as operating surplus for 2017 and N71.48 billion for 2018 in its financial prepared in line with the fiscal responsibility act.

“Accordingly, the figures so provided by the Budget Office of the as the Operating Surplus for the respective years on which basis they arrived at the shortfall are derived submission of budgetary provision not the actual amounts derived following the statutory audit of the Authorities financial statements,” she said.

“The Authority’s (NPA) computation of its remittances to the CFR are concluded arising from numbers from Audited Financial Statements using the template forwarded to the Authority from the Fiscal Responsibility Commission as herewith attached and not budgetary provision.

“The authority has remitted the full amount due to it to CFR for the periods of 2017 and 2018 arising from the Operating Surplus derived from the Audited Financial for the period totalling N76.384 billion as evidenced in attached treasury receipts.

“The Authority has remitted a total of N82.687 billion for the period 2019 and 2020 pending the audit of the financial at which point the amount so computed arising from the value of the Operating Surplus in the audited financial be remitted to the CFR.”

However, by the the presidency could consider her letter, Amaechi was already meeting with Buhari to make a final case for her suspension as earlier reported. (TheCable).