NCC Clarifies Misleading Reports of Deficit in 2021 Budget Expenditure

The Nigerian Communications Commission (NCC) in a press release signed by Reuben Muoka, its Director of Public Affairs, on April 25, 2023 has issued a statement to clarify a recent online publication claiming that the Commission incurred a deficit in its 2021 budget. The NCC expressed concern about the inaccurate interpretation of its 2021 Annual Reports, which suggested that the Commission spent N35.2bn on personnel and consultancy fees, resulting in a N17bn deficit. However, the NCC explained that the figure of N17.3bn in its Statement of Financial Performance for the period ended December 2021 was a “Surplus/(Deficit) retained for the period,” and did not imply a cash deficit.

The NCC highlighted that its expenditure included accruals for items undergoing procurement at the end of the year, such as the State Accelerated Broadband Initiative (SABI), which stood at around N24bn in the financial report. Additionally, the NCC remitted an Operating Surplus/Spectrum Fees of estimated N197.7bn to the Federal Government, and had a bank balance of about N46.97bn.

Therefore, the NCC disclaimed the wrong impression created by the headline and subsequent misinterpretation of the financial report, reiterating its commitment to effective and transparent processes in all its regulatory, management, and financial activities.