The Senate says it is probing the Nigerian Television Authority (NTA) and StarTimes Joint Venture Agreement over the non-profitability of the venture which had been since 2008.
Chairman, Senate Joint Committee on Finance and National Planning, Sen. Solomon Adeola, said this on Tuesday in Abuja, during an interactive session with some revenue generating agencies of government.
The News Agency of Nigeria (NAN) reports that the upper chamber had, on Monday, queried the management of NTA, over 12 years of non-profitable venture with StarTimes.
The Senate asked that the management should appear before the committee along with the Managing Director, NTA TV Enterprises, Mr Maxwell Loko.
The joint venture agreement was that whatever accrued at the end of every financial year, 70 per cent, goes to StarTimes and 30 per cent to Nigeria.
Adeola queried why some of the accounts of StarTimes were in dollars and naira.
“If this business is truly owned and it is owned in Nigeria as you profess, this account should only be in naira value.
“Why you have structured it to be in dollars and naira, is for easy movement of dollars outside the country.
“In 2019, the total revenue for subscription is 36.1 million dollars and in naira terms, it is over N11 billion.
“On this note, we are going to set up a special investigative panel to look into this record before us, audited account from the few lines l am able to open and look into, there is a lot of issues,” he said
The chairman further called for the stepping aside of the Managing Director, NTA TV Enterprises, chief executive officer of StarTimes and the director of tax, for an independent investigation.
Also speaking, the Vice-Chairman, Senate Committee on Finance, Sen. Olubunmi Adetumbi, called for a forensic audit of the process.
He said “an independent forensic audit of this exercise is needed so that we can open up where the issues are, if NTA needs to renegotiate its agreement, so be it.”
Adetumbi said that the situation and transaction were highly complex and beyond the public hearing to unravel, given the time and the nature of transactions.
“I will like to suggest to this committee and NTA that it is in order to open these books to ensure that Nigeria is having a fair deal from this relationship.
“We want to be sure that NTA is not taken for a ride and definitely the investment of Federal Government in NTA is also not being abused.
“Between 2008 and now, nothing in terms of return except that NTA was borrowing from StarTimes, its partners.
“No wonder and we are not surprised that you have not been able to declare anything,” he said.
A member of the committee, Sen. Yusuf Yusuf (APC-Taraba) said: “Whatever way we look at it, this thing is actually a messy situation.
“NTA signed agreement with this people, which is a venture to form Star TV and then to be overlooked by TV enterprises.
“However, if you look at the shareholding, the 30 per cent is not TV enterprises.
“NTA has 30 per cent and not TV enterprises. Whatever way you look at it, this thing is muddled up.
“That is why this venture could not generate income for the country.
“All what you are doing is that you are working for StarTimes, pure and simple.
“All of you are working for StarTimes. It is very clear why no kobo has come to Nigeria.
” I am sorry to say this and my language may be harsh, I don’t see patriotism in you working for the Nigerian people.”
Responding, Loko, the managing director, NTA TV Enterprises said “I don’t work for them, I don’t manage the company.
“We have a chief executive officer, I do not manage StarTimes, that is the truth. I do not manage StarTimes, I do not work for them.
“It will interest the committee to know that, it was indeed the National Broadcasting Commission (NBC) that introduced StarTimes communication of China to NTA.”
Loko explained that NBC granted the company licence from August 2011 to 2016 in the first instance.
“We were expected to have paid N500 million as licence fee,” he said. (NAN)
Like!! I blog quite often and I genuinely thank you for your information. The article has truly peaked my interest.
I really like and appreciate your blog post.
I like this website very much, Its a very nice office to read and incur information.
Your site is very helpful. Many thanks for sharing!
really like the watch ordered two for gifts…..the watch was rich and classic i loved it…
high line pointe denver
high line pointe apartments
high line pointe
high line pointe apartments
high line pointe review
high line pointe denver
south denver apartments
south denver apartments
high line pointe apartments
As I web site possessor I believe the content matter here is rattling great , appreciate it for your efforts. You should keep it up forever! Best of luck.
492836 589394I discovered your blog website on google and check several of your early posts. Proceed to maintain up the superb operate. I just extra up your RSS feed to my MSN News Reader. In search of ahead to studying extra from you in a whilst! 426987
176676 152887its fantastic as your other articles : D, regards for posting . 311746
259612 35501Outstanding post, I believe weblog owners should larn a good deal from this blog its genuinely user genial . 920197
787784 678774hey there, your web site is fantastic. I do thank you for work 517347
590677 470165I conceive this web website holds some real superb information for every person : D. 677284
538354 169359Woh I enjoy your content material , saved to favorites ! . 149406
165768 891053Greetings! This is my very first comment here so I just wanted to give a quick shout out and let you know I genuinely enjoy reading via your weblog posts. Can you recommend any other blogs/websites/forums that deal with the same topics? Thank you so considerably! 532167
Paragraph writing is also a excitement, if you know then you can write or
else it is complicated to write.
111594 548447Following study a couple of of the content for your internet site now, i genuinely as if your technique of blogging. I bookmarked it to my bookmark web site list and are checking back soon. Pls have a look at my site too and told me should you agree. 316045
I just like the valuable information you supply on your articles.
I’ll bookmark your weblog and test again here regularly.
I’m relatively certain I’ll be told plenty of new stuff right here!
Good luck for the next!
You made some really good points there. I checked on the web for more info about the
issue and found most individuals will go along with your views on this site.
I enjoy, result in I found just what I used to be having a look for.
You’ve ended my 4 day long hunt! God Bless you man. Have a great
day. Bye
828600 864112I view something genuinely unique in this website . 677274
If some one wishes expert view regarding blogging and
site-building then i advise him/her to go to see this website, Keep up the pleasant work.
711073 748174Its actually a cool and beneficial piece of details. Im glad which you shared this useful information with us. Please keep us informed like this. Thanks for sharing. 442347
I visited several websites but the audio quality for audio songs present at this
web site is actually fabulous.
Every weekend i used to visit this site, as i wish for enjoyment, since this this web page conations actually good funny information too.
Thanks on your marvelous posting! I quite enjoyed reading it, you may be a great author.I will always bookmark your blog and definitely
will come back later in life. I want to encourage yourself to continue your
great job, have a nice holiday weekend!
Simply want to say your article is as astonishing. The clarity for your publish is just excellent
and i can assume you’re an expert on this subject.
Well with your permission allow me to snatch your feed to keep up to date with coming near near
post. Thanks a million and please keep up the rewarding work.
This is really interesting, You’re an overly skilled blogger.
I have joined your feed and stay up for in search of
extra of your magnificent post. Additionally, I’ve shared your website in my social networks
I am not sure where you’re getting your information, but
good topic. I needs to spend some time learning more or understanding
more. Thanks for great information I was looking for this information for my mission.
Hello! Someone in my Myspace group shared this website with us so
I came to take a look. I’m definitely loving the information. I’m bookmarking and
will be tweeting this to my followers! Terrific blog and superb style and design.
I am extremely inspired with your writing abilities and also with the layout to your blog.
Is this a paid subject or did you customize
it yourself? Anyway keep up the excellent high quality
writing, it is uncommon to look a nice blog like this one these days..
Howdy would you mind sharing which blog platform you’re using?
I’m looking to start my own blog soon but I’m having a
tough time deciding between BlogEngine/Wordpress/B2evolution and Drupal.
The reason I ask is because your design seems different then most blogs and I’m looking for something unique.
P.S Apologies for being off-topic but I had to ask!
I think the admin of this web site is truly
working hard in favor of his website, since here every data is quality based stuff.
My brother recommended I might like this web site. He was entirely right.
This post actually made my day. You can not imagine simply
how much time I had spent for this information! Thanks!
I have read so many content about the blogger lovers
except this article is in fact a good piece of writing,
keep it up.
Whats up very nice website!! Guy .. Beautiful ..
Wonderful .. I will bookmark your website and take the feeds additionally?
I’m happy to search out so many helpful information right here within the submit, we’d like develop more techniques on this
regard, thank you for sharing. . . . . .
Keep on working, great job!
Ahaa, its good dialogue about this paragraph here at this webpage, I
have read all that, so now me also commenting here.
I have been exploring for a little for any high quality articles or weblog posts on this sort of house .
Exploring in Yahoo I at last stumbled upon this web site.
Studying this info So i’m glad to exhibit that I have
a very just right uncanny feeling I came upon exactly what I needed.
I so much unquestionably will make certain to don?t omit
this web site and provides it a glance regularly.
835007 586814whoa, this is a genuinely excellent piece of info. I read about something like this before, this is impressively fantastic stuff. 73150
I truly appreciate your technique of writing a blog. I added it to my bookmark site list and will
Great website.ots of useful information here. look forward to the continuation.<a href="https://www.maps.google.co.ug/url?sa=t
lso thank you for allowing me to comment!.-kabel 1 live 2ix22
In conclusion, transforming learning in the 21st century involves a holistic approach that leverages technology, embraces global connectivity, and encourages pedagogical innovation.
Thank you for great information. look forward to the continuation.Bird Feeding Dish Cups Hanging Stainless Steel Parakeet Feeder Bird Feeder for Cage
Thank you for great content. look forward to the continuation. – womens hey dudes
I think this is one of the so much significant information for me. And i’m satisfied reading your article. However wanna observation on few basic things, The website taste is perfect, the articles is in reality nice : D. Good task, cheers
This article is really a nice one it helps new web users, who are wishing for blogging.
You’re so awesome! I don’t believe I have read a single thing like that before.
Your post brings a sense of tranquility, thank you! look at this web-site
hi!,I love your writing so so much! percentage we keep in touch more approximately your post on AOL? I need an expert in this area to unravel my problem. May be that is you! Looking forward to see you.
Крупный учебный и научно-исследовательский центр Республики Беларусь. Высшее образование в сфере гуманитарных и естественных наук на 12 факультетах по 35 специальностям первой ступени образования и 22 специальностям второй, 69 специализациям.
Hi i am kavin, its my first time to commenting anywhere, when i read this post i thought i could also make comment due to this sensible piece of writing.
Hi there! I know this is somewhat off-topic but I had to ask. Does running a well-established blog like yours take a lot of work? I’m completely new to blogging but I do write in my diary everyday. I’d like to start a blog so I can share my own experience and thoughts online. Please let me know if you have any ideas or tips for new aspiring bloggers. Appreciate it!
Heya! I’m at work browsing your blog from my new iphone! Just wanted to say I love reading your blog and look forward to all your posts! Keep up the great work!
Hey there! I just wanted to ask if you ever have any problems with hackers? My last blog (wordpress) was hacked and I ended up losing many months of hard work due to no backup. Do you have any solutions to protect against hackers?
Nice post. I learn something new and challenging on sites I stumbleupon everyday. It will always be exciting to read content from other writers and practice a little something from their sites.
Keep on working, great job!
I like reading a post that will make people think. Also, thank you for allowing for me to comment!
Заказывая автомойку под ключ, вы экономите время и деньги. Наши специалисты возьмут на себя все этапы работ, от разработки до ввода объекта в эксплуатацию.
These are in fact wonderful ideas in about blogging. You have touched some pleasant factors here. Any way keep up wrinting.
Excellent post. I was checking continuously this blog and I am impressed! Very useful information particularly the last part 🙂 I care for such info a lot. I was seeking this particular info for a long time. Thank you and good luck.
I’m not sure where you are getting your info, however good topic. I needs to spend a while learning more or working out more. Thank you for magnificent information I used to be looking for this information for my mission.
To finish the call images with a live sex she begged me to squirt her breasts all over , it was so arousing I came delightfully in 2X.
why should I be shy to show what click here wasnt ashamed to create?