NIGERIAN COMMUNICATIONS COMMISSION REMITS 49.7 BILLION NAIRA TO GOVT COFFERS IN FOUR MONTHS

The Nigerian Communications Commission, NCC has announced that it had remitted up to 49.7 billion naira to the federal government, in the first four months of 2018 in compliance to the fiscal responsibility Act of 2007.

The Fiscal Responsibility Act was passed into law in 2007 and amended in 2011.

The law serves to protect against financial ‘rascality’ and reckless spending by government.

This figure, according to the commission, represents “Payment on Account” in respect of operating surplus for the year 2018.

The Director, Public Affairs of the commission, Tony Ojobo, said that “the Act makes it mandatory that such payments are to be made every year after preparation of Audited Accounts.

This entry was posted in Business. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

1
Smart KidsOn air now 
Host:
%d bloggers like this: