Falana says Nigeria Lost $500m to Non-Implementation of Cargo Tracking Note

Human rights lawyer, Femi Falana (SAN) has exposed a massive corruption scandal involving top Nigerian government officials who allegedly hijacked the International Cargo Tracking Note (ICTN) Scheme contract, denying the country a revenue of over $500 million.

The ICTN Scheme, introduced in 2010 to protect international shipping and prevent dangerous cargo movements, was initially suspended in 2011 and again in 2016.

In a statement on Sunday, Falana highlighted that 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.

The human rights lawyer explained that this brazen act of corruption has not only compromised national security but also deprived Nigeria of much-needed revenue.

He stated further that 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 as former Minister of Finance, Dr. Ngozi Okonjo-Iweala had formerly terminated the contract in 2011 due to allegations of non-remittance of charges.