“Vampire Elites and Ruling Class” stall non-implementation of Cargo Tracking Note leading to over $500m loss _ Falana
A human rights lawyer Femi Falana (SAN) has made a shocking revelation about a massive corruption scandal involving top Nigerian government officials who reportedly hijacked the International Cargo Tracking Note (ICTN) Scheme contract, denying the country a revenue of over $500 million.
The ICTN Scheme, first introduced in 2010 to protect international shipping and prevent dangerous cargo movements in Nigeria’s maritime domain was initially suspended in 2011 and again in 2016.
In a statement on Sunday, Falana said despite President Buhari’s Executive Order in 2022 authorising a company to operate the scheme, five companies, sponsored by government functionaries, overruled the President and hijacked the contract.
This brazen act of corruption, according to the maritime lawyer, has not only compromised national security but also deprived Nigeria of much-needed revenue.
He said the incident highlights the pervasive corruption and looting by “Vampire Elites and Ruling Class” who prioritise their interests over the country’s well-being.
This is not the first time the ICTN Scheme has been marred by controversy. Former Minister of Finance, Ngozi Okonjo-Iweala had previously terminated the contract in 2011 due to allegations of non-remittance of charges to the treasury.
