Association denies N17b revenue recovery from free zone companies

THE Nigerian Economic Zones Association ( NEZA), has described as ‘ falsehood mixed with ignorance’, reports making the rounds and credited to the House of Representative, Public Committee chairman, Oluwole Oke over purported recovered N17billion from companies operating in the zones.

Oke was quoted by some news media to have revealed alleged recovery of missing N17 billion revenue generated by some companies operating within the Free Trade Zones.

The reports also quoted him as saying that the alleged funds are presently domiciled with the Central Bank of Nigeria ( CBN).

The denial is contained in a statement signed yesterday by the Executive Secretary of the Nigeria Economic Zones Association, Toyin Elegbede in Abuja.

The umbrella body for investors and enterprises operating within the country's free trade zones, described the reports as "a blatant misrepresentation of facts”, as Elegbede said "there was no recovery of any such amount from its members as claimed by the lawmaker.

He stated that the committee chairman must have been either misinformed or engaged in deliberate twisting of facts to suit a purpose its members are yet to be aware of.

"From all available facts, the money the committee chairman referred to must have been a mix up of the N15 billion allocated to a company incorporated by the Federal Ministry of Industry, Trade & Investment under the former Minister, Okechukwu Enelamah.

"The said money has nothing to do with loss of revenue. Our members submit yearly audited reports to the regulators, NEPZA and OGFZA, which review or query such reports," Elegbede said.