REPS QUESTION ITF OVER MISSING N3 BILLION

November 13, 2023November 13, 2023

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The Industrial Training Fund (ITF) was given a 48-hour ultimatum by the House of Representatives on Monday to provide an explanation for any missing monies, up to a total of N3 billion.

When the agency was unable to explain how the money was used, James Faleke, the Chairman of the Committee on Finance, made the decision during the continuing hearing on the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

In the same vein, the committee mandated that the Nigerian Electricity Regulatory Commission offer a 72-hour explanation of a company’s licence to supply metres.

Despite allegedly receiving N39 billion from the Ministry of Power, the business failed to deliver the metres.

The committee is worried that a licence was granted to a company that doesn’t seem to have the necessary resources to complete the project.

In addition, it ordered the Nigerian Communications Commission (NCC), which was questioned by the committee over specifics of broadband service delivery after the NCC claimed that its services were limited to markets and airports, to produce an explanation for the N291 billion it spent on broadband nationwide in 2022.