The Nigerian Communications Commission, NCC, has denied incurring a deficit of N17 billion by allegedly spending N35.2 billion on personnel costs and consultancy fees.Information Guide Nigeria

This was disclosed by the NCC’s Director, Public Affairs, Dr Reuben Muoka in a statement on Tuesday in Abuja.

According to DAILY NIGERIAN, Mr Muoka said that the publication gave a wrong impression that the commission incurred a N17 billion deficit, saying: ”This is far from the truth.

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“Though the statement of the financial performance of the commission for the period ended December 2021, clearly indicates that the sum of N17.3 billion was a surplus/deficit retained for the period).

“This does not imply that the commission incurred a cash deficit as the expenditures in its financials were both in cash and accruals applicable to the year.NYSC Portal

“If the publication had inquired of the constituents of our expenditures, it would have learnt that the expenditures for the year 2021 included accruals for items undergoing procurement at the end of the year.

“Like the State Accelerated Broadband Initiative, (SABI), being implemented by the commission which was standing in the sum of about N24 billion in the financial report,” he said.

He noted that the commission also remitted an Operating Surplus/Spectrum Fees of an estimated N197.7 billion to the Federal Government under the same Financial Performance Reporting period.

Mr Mouka added: “The commission, therefore, disclaims the wrong impression created by the online publication and subsequent misinterpretation of our financial report in the publication may have had in the minds of the public and stakeholders.

“The commission reiterates its commitment to the effective and transparent processes in all its regulatory, management and financial activities.”JAMB Result

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