The Property of Associates Monday dismissed as grossly incompetent, the administration of the Nigerian Communications Satellite, NIGCOMSAT, Ltd, around their failure to account for revenues produced by the company from 2012-2019.
The Chairman of the House Committee on Finance, Rep. James Falake, gave his evaluation, when the Management of the Company led by its Running Director, Mrs Abimbola Alale, appeared in advance of it at the resumed investigative listening to into the non-remittance of authorities income by Ministries, Departments and Businesses (MDAs), of the Federal Government to the Federation Account.
The Committee reported it was amazed that fiscal documents of company,, have been fraught with inconsistencies.
He impugned the specialist competency of the Accountants who audited the accounts and the failure of the Taking care of Director and the Common Supervisor, Finance, Mr Adamu Idris to respond to most of the queries put to them
In accordance to Rep. Falake, ”things can not go on like this, you are not skilled, we have to rescue this Agency from you, in fact if I have my way, I will propose your sack.
“We can not go on with this exercise, the management will have to depart, go and fantastic your documents and you will signify for consideration mainly because the a single introduced now can not stand the exam of time, we will have to start off from 2012 economical year”
The Chairman of the Committee who later on tackled newsmen on the improvement said the Company would be put on standing enquiry to verify its economical position
In accordance to him, “we are continuing with our investigations on earnings checking to make sure what transpired in the earlier don’t continue on. And the essence is to make absolutely sure that all revenues intended for the consolidated profits accounts are remitted as and when due and just about every excellent accounted for
“We have just taken on the Nigeria Communications Satellite Constrained (NigComSat). We seemed at their presentation and we were not delighted with what we noticed, so we ordered for a position enquiry
“The documents that were being presented to us were being meant to have been ready by pros, but when we saw what they brought, we all were being humiliated and that was why I reported if we have our ways we suggest critical sanctions in opposition to, we would preserve the agency from them
“Although, we really don’t have the electric power to use and hearth, it is within our purview to suggest sanctions which could include sack of a given officer, so we can actually do that”.