Reps give ITF 48 hours to explain missing N3bn

The House of Representatives on Monday issued the Industrial Training Fund (ITF) a 48-hour ultimatum to give an explanation on the “missing” N3 billion traced to the agency’s account.OTF

The Chairman of the House Committee on Finance, Mr James Faleke, who presided over an interactive session with some heads of Federal Government agencies, gave the ultimatum in continuation of the committee’s hearing on the Medium-Term Expenditure Framework and the Fiscal Strategy Paper.

Persecondnews reports that the directive became imperative when ITF was unable to explain how the funds were utilised.

Similarly, It also directed the Nigerian Communications Commission (NCC) to explain how it spent N291 billion in 2022 on broadband across the country.

This is as the committee questioned the details of the provision of broadband services after the NCC said the services were provided to airports and markets with services still not up to standards.

In another development, the Committee also directed the Nigerian Electricity Regulatory Commission (NERC) to explain within 72 hours why a company was licensed to provide meters without the capacity to do so.

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

The Committee expressed concern that a company which seemingly lacks the capacity to execute the project was licensed.