House of Reps committee threatens to involve EFCC over missing N43bn NCAA’s revenue
The House of Representatives has issued a stern warning to hand over the management of the Nigeria Civil Aviation Authority (NCAA) to the Economic and Financial Crimes Commission (EFCC) following alleged discrepancies in the handling of N43 billion revenue generated in 2022.
During an ongoing interactive session with revenue-generating agencies in Abuja, James Faleke, Chairman of the House Committee on Finance, raised concerns over the records provided by the Federal Airport Authority of Nigeria (FAAN). The records revealed that 16 million passengers were transported by local airlines in 2022, while three million passengers were transported by international airlines.
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It was disclosed that N1.28 trillion was realized from tickets sold to international passengers, with N64 billion representing five per cent shared by the five regulatory agencies in 2022.
The documents submitted to the Committee indicated that NCAA declared N12.7 billion revenue from the share of the gross revenue allotted to regulatory agencies.
However, this amount was deemed to be below the expected gross revenue share of N66 billion from both local and international travels for 2022.
The breakdown of NCAA’s revenue share revealed that N31 billion was realized from local passengers, and N35.85 billion was realized from international flights.
The sharing formula showed that 56 per cent of the amount is for NCAA, while the remaining percentages are allocated to other regulatory agencies.
Faleke also alleged that the agency had an outstanding N8 billion revenue undeclared from revenue accrued from international passengers for 2022.
In response, the NCAA representatives explained that some local airlines were indebted to the agency, prompting Faleke to request for audited reports and comprehensive bank reports.
The House of Representatives is seeking a resolution to address the discrepancies in the revenue management of NCAA, and has deemed the issue significant enough to consider taking drastic measures, including possible handover to the EFCC.