SERAP Accuses Nigerian Satellite Agency, NCSL Of Fund Misappropriation

The Socio-Economic Rights and Accountability Project (SERAP), has claimed that the management of the Nigerian Communications Satellite Limited (NCSL) in Abuja, failed to send N95,641,112 in tax payments sometime in 2019. ayokinews.com reports

NCSL’s management is suspected of misappropriating the funds, according to SERAP.

According to SERAP, the organization reportedly spent N250,099,250 on items in 2019 and paid N12, 047,447 in non-person/cash advances to 14 of its employees without having any formal documents.

The payment exceeded the minimum N200,000 threshold, according to the report, which also stated that the organization had failed to recover debts of N484,169,079.55 from the Presidency, ministries, departments, agencies, and state governments.

SERAP revealed this on its official Twitter handle on Thursday, saying, “The Nigerian Communications Satellite Limited (NCSL), Abuja in 2019 reportedly failed to remit N95,641,112.00 of deducted taxes to the appropriate authorities.”

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“The Auditor-General is concerned that the money may have been misappropriated. The Nigerian Communications Satellite Limited (NCSL), Abuja in 2019 reportedly spent N250,099,250.00 to buy store items but without any document. The Auditor-General is concerned that the money may have been diverted.”

“The Nigerian Communications Satellite Limited (NCSL), Abuja in 2019 reportedly paid N12,047,447.00 as non-personal/cash advances to 14 staff but in excess of the stipulated maximum of N200,000.00. The Auditor-General is concerned that the money may have been diverted.”

“The Nigerian Communications Satellite Limited (NCSL), Abuja in 2019 reportedly failed to recover N484,169,079.55 debts from ministries, departments and agencies, the presidency, and state governments. The Auditor-General is concerned that the money may have been diverted.”

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About Amadu Victor Oluwadamilare 738 Articles
Amadu Victor Oluwadamilare is the CEO/Founder of Ayoki News Media, an international informative media platform, aimed at dispensing good and reliable source of information.

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