More than N400million belonging to the Nigerian Ports Authority, (NPA), is currently trapped in ASSO Savings and Loans, a Mortgage Bank in Nigeria.
Disclosing to the Managing Director of the NPA, during a tour of the Eastern port, Zonal Chairman of the Senior Staff Association of Nigerian Ports Authority, Port Harcourt Zone Comrade Musa Doma said that the money was to supposed to be a revolving loan for the staff of the agency.
Doma said that since the money was deposited at the Bank, nobody has benefitted from the money, adding that cheques that were issued and presented at the Bank were never honoured.
The labour leader disclosed that the money was deposited more than five years ago and up till the time of filing this report, no NPA staff has been able to access the fund.
He said, "the Union had to raise alarm over the fund at the bank because no member of the immediate past management of the NPA could explain how the money could be accessed and why the bank was still holding on to the money.
"We crave your indulgence to investigate the matter and retrieve the money from the bank in question.
"This money has been with the bank since 2010-2011."
Ms Hadiza Bala Usman, Chief Executive Officer of the NPA said that management will certainly look into the matter with a view to retrieving the money from the Bank.
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