Investors familiar with NEPZA’s operation had raised concerns on the agency’s notoriety in the breach of extant laws. Indeed, NEPZA is yet to explain the controversial transfer of N14.37billion from its capital account to a private company, Nigeria Special Economic Zones Company. The Acting Managing Director of NEPZA, Mr Bitrus Daniel Dawuk had disclosed that a committee had been set up to probe the transfer, but analysts have faulted the composition of the committee. It is a common knowledge that multiple litigations not only kill existing investments, they also drive away potential investors. Having sanitised the NNPC, NPA, FIRS, Nigeria Customs Service and NIMASA, President Buhari should not ignore a critical regulator like NEPZA, whose alleged corrupt activities can mar his campaign for foreign investments.

Source: The Guardian March 02, 2020 05:15 UTC