News: EFCC to Investigate NigComSat N14.854b Allocations

The Steve Oronsaye Committee on streamlining of federal government parastatals said in its report that “although the NIGCOMSAT is an incorporated entity, the company receives full funding from government to the whopping sum of N6. 318 billion in 2010 and N8.536 billion in 2011, totaling N14.854 Billion for the two years without corresponding delivery of its services and accountability.
Consequently, Aso Rock it was gathered has forwarded the report to the Economic and Financial Crimes Commission (EFCC) for investigation. A top source in the Commission who wished to remain anonymous disclosed this in Abuja at the weekend.
It was gathered that, the anti-sleaze agency secretly received Oronsaye report two weeks ago from the Presidency with an order to carry out “clandestine and careful investigation.”

The Steve Oronsaye Committee on streamlining of federal government parastatals said in its report that “although the NIGCOMSAT is an incorporated entity, it (the committee) observed that the company receives full funding from government.” According to the committee, the organization received N6. 318 billion in 2010 and N8.536 billion in 2011. It has continued to be budgeted for ever since.
“With this development, the nation’s space programme is now in jeopardy, owing to power play which has consumed the Nigerian Communications Satellite Limited, NIGCOMSAT Limited, from its parent body, the National Space Research and Development Agency (NASRDA),” a top EFCC source revealed.

The source stressed that the loan that was used in building the ill-fated NigComSat-1 which developed problems in  orbit is yet to be repaid with the interest piling up even as the Chinese had replaced the object with NigGComSat 111. Top officials of the agency were reluctant to speak with newsmen on the matter as whoever  volunteered information preferred anonymity because of the sensitive nature of the matter.
However, as the rivalry peaks, NIGCOMSAT is currently in the process of transforming itself from its original status as a private limited company to market the nation’s first satellite, NIGCOMSAT 1, bandwidth, into another space agency. The Bill for the establishment of the Nigerian Communications Satellite Corporation is currently before the National Assembly.