The House of Representatives has given the Industrial Training Fund (ITF) a 48-hour ultimatum to account for missing funds amounting to N3 billion.
The directive was issued by the Chairman of the Committee on Finance, James Faleke, during the ongoing hearing on the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) after the agency failed to provide a satisfactory explanation for the fund’s utilization.
In a related development, the committee has instructed the Nigerian Electricity Regulatory Commission to clarify within 72 hours why a licensed company, despite receiving N39 billion from the Ministry of Power, has not fulfilled its obligation to provide meters.
The committee expressed concern about licensing a company that appears incapable of executing the project.
Furthermore, the committee called on the Nigerian Communications Commission (NCC) to account for the expenditure of N291 billion in 2022 on broadband services nationwide.
The committee sought detailed information regarding the provision of broadband services, questioning the NCC’s claim that services were extended to airports and markets.
