The House of Representatives on Thursday authorised the issue from the Statutory Revenue Fund of the Nigerian Communications Commission the total sum of ₦70 billion as its 2016 budget.
From the N70 billion, ₦22 billion is for recurrent expenditure, the sum of ₦15 billion is for Capital Expenditure, the sum of ₦6 billion is for special projects while the sum of ₦8 billion and ₦17 billion will be transferred to the Universal Service Provision Fund (USPF) and the Federal Government respectively.
The chairman, House committee on Telecommunication, Honourable Saheed Akinade-Fijabi presented the report for consideration.
During the consideration of the report at the committee of supply chaired by the Speaker, Honourable Yakubu Dogara, the House approved that, “the Executive Director responsible for Finance shall when authorized to do so by warrants signed by the Executive Vice Chairman of the Nigerian Communications Commission, payout of the Statutory Revenue Fund of the Commission during the year ending on the 31stday of December, 2016, the sums specified by the warrants not exceeding in the aggregate (₦70,672,492,000. 00) Seventy Billion, Six Hundred and Seventy-Two Million, Four Hundred and Ninety-Two Thousand Naira only.
The House however, warned that, “no part of the amount above mentioned shall be released from the Statutory Revenue Fund of the Nigerian Commissions Commission (NCC) after the end of the year mentioned in the Schedule to this Bill.”
In the case of virement, the House maintained that, “in the event that the implementation of any of the projects intended to be undertaken under this Bill cannot be completed without virement, such virement shall only be effected with the prior approval of the National Assembly.”
On the release of funds for implementation, the House averred that, “executive Vice Chairman/Chief Executive of the Commission shall ensure that Funds appropriated under this Bill are released as and when due, provided that no funds for any Quarter of the Fiscal year shall be deferred without prior waiver from the National Assembly”.
The House equally demanded that a quarterly report should be presented by the Executive Vice Chairman/Chief Executive of the NCC and the Directorate of Treasure, Nigerian Communications Commission shall immediately upon the Coming into force of this Bill furnish that the National Assembly, on a Quarterly basis the status of the records of the Nigerian Communication Commission and statutory account.
On due process certification, the House said that, “the department of Government charged with the responsibility of Certifying that due processes have been complied with in the processing of implementation of projects shall ensure that shall processes of approval are Completed within the Specified period as provided for in the Public Procurement Act.”