NigComSat faces financial inquiry

By Content Nigeria reporter
February 20, 2020


Nigeria’s House of Representatives has launched an investigation into the management of Nigerian Communications Satellite (NigComSat) over seven years of financial inconsistencies.

The chairman of the house committee on finance, James Falake, cast doubt over NigComSat’s accounts for the years between 2012 and 2019.

He made the claim during an investigative hearing into the non-remittance of revenue by ministries, departments and agencies of the federal government to the federation account.

Falake attacked the professional competence of NigComSat’s accountants and its general manager of finance, Adamu Idris, who failed to respond to the hearing’s questions.

James Falake

“Things cannot continue like this – you are not competent. We have to rescue this agency from you. In fact, if I have my way, I will recommend you are sacked,” Falake said.

“We cannot continue with this exercise. The management will have to leave. Go and perfect your records and present them for consideration, because the one brought now cannot stand the test of time. We will have to start from the 2012 financial year.”

Abuja-based NigComSat is a 14-year-old company working under the Federal Ministry of Communications Technology. It operates the Chinese-built Nigerian telecoms satellite NigComSat-1R.

Falake ordered a ‘status enquiry’ into the agency to discover its financial position.

Falake said: “We are continuing with our investigations on revenue monitoring to ensure what happened in the past doesn’t continue. And the essence is to make sure that all revenues meant for the consolidated revenue accounts are remitted as and when due and everything outstanding accounted for.

“Although, we don’t have the power to hire and fire, it’s within our purview to recommend sanctions, which could include the sacking of an officer.”

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