Association of Senior Civil Servants of Nigeria has alleged that Minister of Industry, Trade and Investment Mr Okechukwu Enelamah in his presentation to the National Assembly allocated the sum of N42.09 billion to a non-existing private company, named Nigeria Special Economic Zones Company NSEZC.
The associations’ Head, FCT chapter, Comrade Isaac Ojemhenke told newsmen in Abuja on Tuesday that the company is fraudulently designed and created by the minister to take over the responsibilities of NEPZA, a development that negates the core principles of the current administration’s fight against corruption and fraud.
He said the minister had earlier written to the Office of the Accountant General of the Federation that a sum of N14, 376,027,584.65 be transferred to NSEZCO from NEPZA 2017 capital budget meant for the upgrade of the existing two Public Free Trade Zones to World Class standard.
“Fortunately enough, the Senate in its 2018 oversight had discovered this fraudulent move by the Minister and had written a letter dated 8th January 2019 to the office of the Accountant General highlighting the following:
“Firstly, that Nigeria Export Processing Zones Authority is a Federal Government Agency with legal Authority to execute all Capital projects concerning Free Trade Zones in Nigeria.
“Secondly, that the 27th June 2018 approval by the Federal Executive Council (FEC) was given in error.
“Thirdly, that the sum of fourteen billion, three hundred and seventy-six million, twenty-seven thousand, five hundred and eighty-four naira, sixty-five kobo N14,376,027,584.65 only appropriated for NEPZA in the 2017 budget and which was withheld should be released to NEPZA without further delay.
“Fourthly, that on no account should the Office of the Accountant General of the Federation transfer the fund to a private company because it is not an intervention fund as the Minister will want us to believe.
“However, the minister in his desperate move to achieve his unpatriotic objective had already transferred the funds deposited into NEPZA project account with CBN in the name of an SPV company which is not a product of any legislation.
“This development is worrisome and disturbing that even after the intervention by the President and the National Assembly the Minister could still go ahead to transfer the funds meant for NEPZA capital projects to NSEZCO.
The association called on President Buhari’s Administration to investigate the involvement of the Minister in the NSEZCO’s saga as revealed not only by the Association of Senior Civil Servants of Nigeria but also by the Senate Committee on Industry, Trade and Investment during the budget defense of the ministry.
“This request for investigation of Okechukwu Enelama’s involvement in the NSEZCO saga is sequel to his unbridled boast that nothing will happen to him as a result of his involvement because he has the backing of the power that be,” he said.
Reacting, the minister through a press release issued in Abuja denied the allegations saying that the company was a special purpose vehicle for development of special economic zones.
Okechukwu further said the company was incorporated to drive alongside other investors, a project to develop world-class Special Economic Zones to position Nigeria as a manufacturing hub in sub- Saharan Africa a major exporter of made-in-Nigeria goods and services.
The minister also said the N14.3 billion meant for Nigeria Special Economic Zones Company ((NSEZCO) is still in the Central Bank of Nigeria account .
He said the Federal Government has already release N14.3 billion as part of its 25 percent (125million dollars) investment commitment to the company.
“The remaining 75 percent ($375 million) will soon be provided by other private investors. N14.3 billion has been transferred to CBN account of NSEZCO and the money is still intact waiting for other investors,” he said.
