The House of Representatives has directed the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance to immediately refund the 50 per cent deduction from the Nigerian Shippers’ Council’s account. 

It also mandated the Federal Ministry of Finance to release all outstanding 2 per cent Port Development Levy Surcharge funds owed the Nigerian Shippers’ Council.

This followed the adoption of a motion moved by Rep. Abba Ahmed Sani.

While presenting the motion, the lawmaker noted that the Federal Ministry of Finance has deducted 50% of the Nigerian Shippers Council’s account in December 2023 under the provisions of the 2021 Finance Act.

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He informed that the Federal Ministry of Finance has been slow and inconsistent in releasing the 2 per cent out of the 7 per cent Port Development Levy Surcharge allocated to the Council, which has resulted in delayed and insufficient funding.

Rep. Sani added that, the non-release and delayed release of funds have caused significant operational challenges for the council leading to its inability to pay salaries and retirees’ entitlements, which has caused untold hardship for staff and retirees.

He expressed concern that the Nigerian Shippers’ Council is classified as a revenue-generating agency, placing it in the same category as other such agencies, even though they are not.

He added, “This misclassification has resulted in inadequate budgetary allocations, leaving the Council unable to meet its operational and financial obligations.” 

The motion was unanimously adopted and the House mandated its Committees on Shipping Services, Finance, and Public Accounts to ensure compliance with the resolution.