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[News] : NPA recovers $5.1m ‘hidden’ in Heritage Bank

ByFasasi

Dec 15, 2016 #Heritage Bank, #NPA

The management of Nigerian Ports Authority has reportedly recovered $5.1m out of the sum of $24.1m it said to have discovered “hidden” in Heritage Bank after it resumed in July.

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According to Shipsandports, the amount was not disclosed in the handover note the current leadership of the organization received from the past management.

While speaking with journalists in Lagos on Wednesday, NPA Managing Director, Hajia Hadiza Bala Usman confirmed the return of $5.1million by Heritage Bank into NPA’s Treasury Single Account with the Central Bank of Nigeria. She said efforts were ongoing to retrieve the balance from the bank.

Besides the recovered money, Usman also mentioned that the NPA was being owed about N10billion and $585million (N180billion) by some private firms and government agencies.

Nevertheless, she admitted that part of the amount could be classified as bad debt as it had been outstanding for more than 10 years.

By Fasasi

Fasasi Abiodun (CEO IJEBULOADED) is a Nigerian news carrier blogger, writer, entrepreneur and a public relation officer. We bring you the Nigerian News, Music and All Informative Messages On This Medium. Connect With Me Via: IG/Twitter: @ijebuloadedng Call/Whatsapp: +2348050947397

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