The new management of the Nigerian Ports Authority, NPA under the leadership of Managing Director, Hadiza Bala Usman has reportedly uncovered fraud totaling N11.23 billion at the agency.
PREMIUM TIMES reports that the Managing Director and her executive directors have since their assumption of duties on July 18 been poring through the books of the maritime agency.
Three Nigerian banks were allegedly involved in the fraud – $24.1million (N7.47billion at N310 per dollar) was traced to Heritage Bank, another six million Euros (N2.09billion at N348 to a dollar) were found concealed in two banks – First Bank of Nigeria and First City Monument Bank.
The NPA is said to be working on moves to recover the monies.
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