House of Representatives has threatened to place Nigerian Communications Satellite Limited (NigComSat) on status enquiry to determine its financial state after it found some irregularities in the accounts of the company.
Chairman of House Committee on Finance, James Falake, said at an investigative hearing in Abuja, claimed the company management was incompetent.
The committee expressed its unhappiness with the presentation by the management led by Abimbola Alale, managing director, on the company’s finances.
The committee said the account was full of infractions and expressed doubts over the professional competence of the accountants who audited NICOMSAT’s accounts.
The committee also criticised Alale and the Mr Adamu Idris, general manager of Finance, for failing to provide satisfactory answers to most of the questions put to them.
Falake said based on the discrepancies in the company’s financial records, the probe, which examined records from 2014 to 2019, would be extended to 2012.
He said, “Things cannot continue like this. You are not competent; we have to rescue this agency from you. In fact, if I had my way, I would recommend your sack. We cannot continue with this exercise.”
