June 13, 2024
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Nigerian House of Reps Query ITF, Others on Missing N3bn, Electricity Metres

The Nigerian House of Representatives Committee on Finance on Monday queried the Industrial Training Fund (ITF) over a missing N3 billion in the agency.

The committee, therefore, gave the ITF a 48-hour ultimatum to explain the whereabouts of the missing funds.

The Chairman of the committee, James Faleke, gave the order during the hearing on the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) in Abuja.

Ripples Nigeria reported that this followed the inability of the ITF to explain the utilization of the funds.

Faleke also directed the Nigerian Electricity Regulatory Commission (NERC) to explain within 72 hours why a company contracted to provide metres to consumers had failed to provide the item despite receiving N39 billion from the Federal Government.

The company is said to have received N39 billion from the Ministry of Power but still did not provide the meters.

The committee is concerned that a company that seemingly lacks the capacity to execute the project was licensed.

Faleke equally asked the Nigerian Communications Commission (NCC) to explain how it spent N291 billion on broadband across the country last year.

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