Nigerian Bar Association, NBA, in 500 Million Naira Debt – NEC Told
The National Executive Committee of the Nigerian Bar Association, NBA NEC has been told of the Association’s indebtedness to the tune of Almost Five Hundred Million Naira (N500,000,000.00).
According to the Financial Report presented at the Association’s NEC meeting held in Abuja on 28th March 2019, The huge debt was mainly accumulated by the Past Leadership of the Association.
The Leadership of the Association Under Paul Usoro SAN had promised an open financial reporting to members of the Association and thorough auditing of the financial books of the Association to put it at par with similar organisation’s worldwide. And the NEC Financial report is in fulfillment of that promise.
It is not clear whether there would be consequences on the “Past Leaders” of the Association, who incurred this humongous debt but the NBA President expressed strong resolve to stop further financial mismanagement of the Association’s funds.
The Members of the Association pay hundreds of Millions of Naira in fees and other monetary obligations every year.
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