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Senate Uncovers how NTA officials used Management account to ferry money abroad

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Senate Joint Committees on Finance and National Planing on Tuesday uncovered how officials of Nigerian Television Authority (NTA) used management accounts to ferry money out of the country.

The NTA management had appeared before the Panel for an interactive session with the two Senate Committees over 2021-2023 FSP/’MTEF.

But, the Joint Committees discovered series of fraud in the presentation of Nigerian Television of Authority (NTA), management over the years as it was revealed that the Joint Venture between the NTA and Startimes is being run based at a loss despite having 4 million subscribers.

The hearing took another twist when the Senate Panel led by Senator Adeola Olamilekan discovered that NTA is operating both a Naira account and Dollar account.

In 2018 alone, $36 million was discovered in the dollar account while N11 billion was declared as revenue in the Naira account.

The Chairman of the Committee who was visibly angry said the NTA has been using management accounta to move money out of the country.

The Committee unanimously agreed to embark on a forensic audit of the Nigerian Television Authority (NTA) and asked the Director General of NTA , Yakubu Mohammed to remove some NTA officials for effectiveness of the investigation.

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