By Godwin Oritse
OVER N400 million belonging to the Nigerian Ports Authority, NPA, is currently trapped in ASSO Savings and Loans, a mortgage bank in Nigeria.

Disclosing this to the Managing Director of the NPA, during a tour of the Eastern port, Zonal Chairman of Senior Staff Association of Nigerian Ports Authority, Port Harcourt   Zone, Musa Doma, said the money was supposed to be a revolving loan for NPA staff.

Doma said since the money was deposited in the bank, nobody had benefitted from it, adding that cheques presented at the bank were never honoured.

He said the money was deposited more than five years ago and that up till the time of filing this report, no NPA staff had 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 authority could not explain why the money could be accessed and why the 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 the management would certainly look into the matter, with a view to retrieving the money from the bank.