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FRC recovers N23.6bn from NCC

The Fiscal Responsibility Commission (FRC) says it has recovered about N23.6 billion from the Nigeria Communications Commission (NCC).

The Chairman of FRC, Victor Murakor, made the disclosure when he appeared before the house of Representatives committee on finance for the 2023 budget defense  exercise at the National Assembly in Abuja. 

According to Mr Murakor, the Commission has also succeeded in recovering funds withheld by some MDAs. 

He, however, insisted that the 2023 budget estimates of the Commission, totaling N827.4 billion, was grossly inadequate, saying  that the FRC would need more personnel and operational vehicles to effectively deliver on its mandate.

Meanwhile, the House Committee has summoned the Director-General of the Nigerian Bulk Electricity Trading Company (NBET), Dr Nnaemeka Eweluka, over his reported refusal to appear for the  budget defense session. 

The Chairman of the Committee, Mr Faleke, gave the ruling after rejecting the representative of the DG on the grounds that he “cannot provide answers to questions on the controversial power purchase agreement entered into by the company” with a firm named Azura. The agreement is said to have committed the Nigerian government to a monthly payment of $33 million.

The summonse read: “In line with the constitution of the Federal Republic of Nigeria, we hereby summon the managing director of NBET to appear before this committee on Thursday 27th October,  2022.”

Reporting by Ibrahim Shehu; Editing by Fany Olumoye and Tony Okerafor