The Nigerian Communications Commission on Thursday said it had remitted N49.79bn to the Federal Government’s Consolidated Revenue Fund in the first three months of this year.

According to a statement made available by the commission, this figure represents “payment on account” in respect of operating surplus for the year 2018.

The statement explained that according to the Fiscal Responsibility Act, 2007, such payments were to be made every year after the preparation of audited accounts.

However, the NCC added that it had taken the initiative to be making payments on account as it generates revenue.

Section 22, sub section 1 of the FRA states, “Notwithstanding the provisions of any written law governing the corporation, each corporation shall establish a general reserve fund and shall allocate thereto at the end of each financial year, one fifth of its operating surplus for the year.”

The statement added that Section 22, subsection 2 of the Act explained, “The balance of the operating surplus shall be paid into the Consolidated Revenue Fund of the Federal Government not later than one month following the statutory deadline for publishing each corporation’s account.”

The statement said the amount remitted was besides spectrum assignment fees, which are remitted 100 per cent to the Federal Government in line with Section 17, subsection 3 of the Nigerian Communications Act, 2003.

It added that the section stated that “the commission shall pay all monies accruing from the sale of spectrum under Part 1 of Chapter VIII into the Consolidated Revenue Fund.”

https://www.financialwatchngr.com/2018/04/27/ncc-remits-n49-7bn-surplus-to-fg-in-q1-2018/

Mynd44, Lalasticlala, Seun

nice one

Tell that to Benue people .... useless statistics that does no suffering Nigerian any good.

The Lanky skinny old Jinn in Aso Rock must resign .... Nigeria badly need a whiff of fresh air from the dullllards fowl stench.

agencies and parasatals are becoming responsible unlike what we have in the paste.
if all agencies are up and doing.
no need for too much borrowing both local and foreign.

fulaniHERDSman:
Tell that to Benue people .... useless statistics that does no suffering Nigerian any good.

The Lanky skinny old Jinn in Aso Rock must resign .... Nigeria badly need a whiff of fresh air from the dullllards fowl stench.

Foolish Igbo always ranting thrash.

Every good news about Nigeria is a nightmare to every deluded soul in your tribe. May you not die of anguish because more good news will be happening in Nigeria.

What the hell is this government doing with money? Not single project commenced and completed.

tribalmall:


Foolish Igbo always ranting thrash.

Every good news about Nigeria is a nightmare to every deluded soul in your tribe. May you not die of anguish because more good news will be happening in Nigeria.

Foolish Igbo how?
Was late Yardua from jupiter and he was loved by all?

Well the Daura Jinn is not a Nairalander but i am .... and you just insulted my tribe.

RULE 2

Mynd44 , Lalasticlala , Seun

Very good accountability. Now the money should be shared into 37 equal portions for the 36 States and FCT.

Keep spinning figures, election is almost here....

Call nwaamaikpe to verify it if you made such.

fulaniHERDSman:

Foolish Igbo how?
Was late Yardua from jupiter and he was loved by all?

Well the Daura Jinn is not a Nairalander but i am .... and you just insulted my tribe.

RULE 2

Mynd44 , Lalasticlala , Seun

And you think anyone cares if your tribe is insulted ? When will a lot of you Igbos get sense.

jcflex:
agencies and parasatals are becoming responsible unlike what we have in the paste.
if all agencies are up and doing.
no need for too much borrowing both local and foreign.

NCC has always been remiiting since the days of Obasanjo so nothing special here ..dont forget they are in charge of spectrum licenses and royalties

Where are the money Then why all the borrowing Deception everywhere ...

tribalmall:


And you think anyone cares if your tribe is insulted ? When will a lot of you Igbos get sense.

The decendant of judas iscariot can never get sense.I'm sorry to type it