Youth group calls for sack of NIMASA MD over non-compliance with financial reporting standards

The Nigerian Youth Against Corruption (NYAC) expressed grave concern following the suspension of the 2018 audited financial statement of the Nigerian Maritime Administration and Safety Agency (NIMASA) by the Financial Reporting Council of Nigeria (FRC) due to non-compliance with financial reporting standards.

In a press statement on Thursday signed by its convener, Comrade Bethel Aguda, the group said, ”The non-compliance is unacceptable and reflects poorly on the leadership and management of NIMASA under the watch of Dr Bashir Jamoh, the Managing Director.”

The statement further read:

”This egregious breach of financial standards and withdrawal of the audited financial statement signal a failure in the agency’s leadership to uphold transparency and accountability.

”Given this significant failure and the resulting penalty imposed by the FRC, NYAC calls for the immediate dismissal of Dr. Bashir Jamoh as the managing director of NIMASA.

”Holding leadership accountable for such blatant non-compliance is imperative, especially in an agency as pivotal as NIMASA, responsible for maritime safety and regulatory oversight.

”The suspension of the 2018 financial statement and the imposition of a hefty N500 million penalty underscore the severity of the situation. NYAC firmly believes that accountability at the highest levels is non-negotiable, particularly regarding financial integrity and compliance within government agencies.

”Dr. Bashir Jamoh’s continuation in office following such a substantial failure in adherence to financial reporting standards sets a worrisome precedent and undermines public trust in the agency’s leadership.”

The NYAC urged the relevant authorities to take swift and decisive action to restore confidence in NIMASA’s governance and operational integrity.

The group emphasised the need for a transparent and diligent process in addressing the matter and called on the Federal Government to ”appoint a competent and trustworthy individual to lead NIMASA, restoring credibility and ensuring adherence to financial regulations.”