Police investigate missing $155m BASA fund

THE Nigerian aviation sector has again been enmeshed in a fresh controversy. This time, it is about the missing $155 million Bilateral Air Services Agreement (BASA) fund.The fund was generated from the accumulated royalty paid by foreign airlines operating in the country.Consequently, the Nigeria Police Force anti fraud unit has initiated investigations into what it alleged as fraud.Investigations into the matter started on Monday with the quizzing of some officials of the Federal Airport Authority of Nigeria (FAAN), as the money was removed from the fund without approval or appropriation from the National Assembly.According to sources, the BASA money, which had been kept in a special account domiciled in a First Bank branch in London under the supervision of the Central Bank of Nigeria (CBN) was meant to be used to address critical safety issues affecting the sector.Trouble started when the money was removed to execute the ongoing airport remodelling projects across the country without following due process.The aviation minister is however, being accused of unilaterally influencing the presidency to approve the use of the special fund for the remodelling projects.The development is said to have angered the National Assembly, as the legislative chamber believed that the fund was expended without due process.However, stakeholders said yesterday that the fund should have been used to tackle issues such as installation of airfield lightings at airports runways, airlines financial crisis and issues relating to aviation security.The police anti-fraud unit was said to have commenced investigation into the whereabouts of the fund following petitions it received from aggrieved players in the industry.The ongoing investigations has however, created tension in the sector as key players complained that the officers being quizzed are those who know little or nothing about how the said fund was collected and disbursed.Many who spoke to The Guardian yesterday, on the condition of anonymity, said they were not surprised about the controversial withdrawal of the BASA fund.They appealed to the police anti-fraud unit to ensure they extend the investigations to the top management of the FAAN and the ministry of aviation.
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