The Nigeria Communications Commission (NCC) has debunked claims that it’s incurred N17billion deficit in the 2021 budget.
In a statement on Tuesday by its Director, Public Affairs, Reuben Muoka, the Commission expressed concern with the inability of an online publication to accurately interpret the contents of its 2021 Annual Reports which have been made public.
“As a result, the publication gave a wrong impression that the Commission incurred a N17billion deficit because of expenditures on personnel and consultancy fees. This is far from the truth,” Muoka maintained.
While admitting that the N17.3 billion in the Statement of the Financial Performance of the Commission for the period ended December 2021 was a Surplus/(Deficit) retained for the period, the Spokeperson claimed that “this does not imply that the Commission incurred a cash deficit as the expenditure in its financials were both in cash and accruals applicable to the year.” -THE SUN
