An investigative report released recently by the Economic and Financial Crimes Commission, (EFCC), have allegedly found the Managing Director of the NPA, Mohammed Bello Koko, guilty of being involved in N829 million fraud through kickbacks and money laundering activities.
The EFCC probe report, reportedly obtained in April, revealed that Koko, after being investigated, was found to have received N829 million from NPA contractors, and cash sums from individuals and companies.
“The EFCC carried out a financial profiling of Koko in August 2021 and found out that the NPA MD worked with an associate, Ali Amin Abubakar and had benefitted from awards of contracts totalling N1, 107,654,133 from the Rivers State Government and others”, it read.
At the time the report was done, Koko was the acting Managing Director of the NPA. Following the suspension of Hadiza Bala Usman as the Managing Director of NPA by President Muhammadu Buhari, the Presidency announced Koko as her replacement in an acting capacity. Koko was previously the director of finance and administration at NPA. Buhari, in February 2022, confirmed Koko as the substantive Managing Director of the Authority.
“Consequently, the foregoing strongly infers the subject’s and associates’ complicity in acts of abuse of office, misappropriation of public funds, fraud and money laundering”, the EFCC report said.
Nigerian Ports Authority (NPA) has come under public scrutiny in recent times. This has been attributed to the prevalence of unwholesome practices perpetuated by the agency’s leadership.
According to a source who is a top official of the agency, the former banker had continued his “sharp practices, especially in granting concessions and waivers at the nation’s seaport” after his confirmation by the President.
The source questioned President Muhammadu Buhari for failing to fire Koko despite the indictment. “There is no way the revenue of the NPA would improve with the unwholesome practices perpetuated by the MD and his cronies. Most times we marvel at the type of concessions he grants without recourse to the implication of such to the organisation’s finances”, he added.
When contacted to respond to the allegations, the NPA stated that the Nigerian government’s adoption of the Treasury Single Account (TSA) policy has made it difficult for any organisation to make money through unlawful ways.
“The issue of waivers mostly comes from the ministries – finance and transport, not the MDAs (Ministries, Departments and Agencies). It’s impossible for any agency head to open an account to receive government funds since TSA came into effect,” the agency stated, this through its media consultant, who insisted that his comment should be credited to NPA.
