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Walter Ukaegbu, Abuja
As the Nigeria Export Processing Zones Authority (NEPZA) prepares to probe the N14.3bn NEPZA fund alleged to have been domiciled in a private account, the Acting Managing Director, Bitrus Dawuk, has said the Act of the organisation is overdue for amendment.
Dawuk who is the second Acting Managing Director within one year and third in three years made this disclosure during a chat in Abuja on his plans for the agency over the weekend. He disclosed that the Act setting up NEPZA that was enacted 27 years ago should be amended to reflect the current realities in the export processing zones.
Mr. Dawuk explained that the amendment of the Act has become necessary with a view to boosting business activities at the free trade zones. He stated that apart from boosting business activities in the free trade zones, the amendment would bring a lot of improvement in infrastructure and assist NEPZA to be self-sustaining and to create employment
On the N 14.37 bn, Dawuk said a committee was set up last December to investigate issues surrounding the talk about N14.37bn NEPZA fund currently domiciled at the Central Bank of Nigeria.
Throwing more light on the issue, the NEPZA Chief Executive stated that the committee was made up of seven members while three were from NEPZA, four from Ministry of Industry trade and Investment.
It was alleged by stakeholders that a company Nigeria Sez Investment Company Limited and not Nigeria special Economic zones was fraudulently designed and created to take over the responsibilities of NEPZA a development that negates the core principles of the President Muhammad Buhari fight against corruption and fraud.
