The House of Representatives has directed the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance to immediately refund the 50% deduction made from the Nigerian Shippers Council’s (NSC) account.
The resolution followed a motion of urgent public importance raised by Hon. Ahmad Muhammad, who noted that the Federal Ministry of Finance had deducted 50% of the Council’s account balance in December 2023 under the 2021 Finance Act.
He said while similar deductions from other agencies had been refunded, the Nigerian Shippers Council is yet to receive its reimbursement.
Hon. Muhammad expressed concern that the non-release and delay in refunding the funds have caused significant operational challenges for the Council, including difficulties in paying staff salaries and retirees’ entitlements. The situation, he noted, has led to undue hardship for both employees and retirees.
In a related development, the House also urged the Federal Ministry of Power to declare electricity Distribution Companies (Discos) as non-state actors and take immediate steps to address their alleged reckless actions, which pose a threat to the nation’s economy.
The lawmakers further recommended the recapitalization of Discos, requiring a minimum of ₦500 billion in financial capacity adding that Only operators with the financial strength to provide satisfactory services to consumers should be allowed to continue operations.
Moving the motion, Hon. Ibrahim Isiaka decried the unfair practices of Discos, particularly their demand for additional payments from consumers to replace electricity meters that had already been paid for during installation. He described the demands as dubious, eroding consumer trust and exacerbating financial burdens on households and businesses.
Hon. Isiaka expressed worry over the sabotage of economic growth caused by Discos, where essential services are manipulated against citizens rather than serving them.
