By Godwin Oritse

In a bid to enhance the financial profile of its superannuation fund, the management of the Nigerian Ports Authority, NPA, has written to the Minister of Transportation requesting that the Bank of Industry, BoI building be returned to the Fund.

Speaking to Vanguard Maritime Report at the just concluded maritime industry corporate dinner and merit awards hosted by the Nigerian Maritime Administration and Safety Agency, NIMASA, the Managing Director of the NPA, Ms Hadiza Bala Usman, said that the agency has written to the Ministry asking that the property be returned to the NPA’s superannuation fund.

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Original head office

She explained that the BoI Building was a replacement for the Ship House in Abuja erected with money from the NPA’s pension fund but was taken over by the Defence Ministry who are the original owners of the BoI Building. The Bank of Industry was relocated to the BoI Building after its original head office on Broad Street, Lagos was gutted by fire.

She stated: “We have written to the Ministry for them to get the necessary approval for the property to be reverted back to the Nigerian Ports Authority Superannuation Fund.”

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She also explained that the money which was used in erecting the Ship House was part of the assets of the Superannuation Fund being used by the authority to meet the financial obligations to its retirees.

Recall that the Nigerian Ports Authority Pensioners Welfare Association, NPAPWA, had last year mounted a campaign to recover the prime asset.

The group had allegedly accused the Bank of Industry of leasing out part of the property and keeping the proceeds to themselves without recourse to the owners, NPA Superannuation Fund.

Vanguard News


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