in

“NTA-StarTimes Partnership Yielded No Profit In 11 Years” – NTA Boss, Mohammed Reveals

NTA Boss said the partnership which saw Startimes transmitting through its facilities has not yielded profits for the past eleven years.

Director-General of Nigeria Television Authority (NTA), Yakubu Ibn Mohammed has revealed that the joint venture partnership with StarTimes has yielded no returns for the nation after 11 years of operation.

"NTA-StarTimes Partnership Yielded No Profit In 11 Years" – NTA Boss, Mohammed Reveals 1

Mohammed disclosed this while he was questioned by the Senate Joint committee on Finance and National Planning on Monday, August 24, 2020.

The Senate queried the management of NTA over what it called 11 years non-profitable joint venture which saw Startimes transmitting through its facilities.

The Chairman, Senate Joint committee on Finance and National Planning, Senator Solomon Adeola, asked:

“Mr DG are you telling this committee that for solid 11 years, the joint venture agreement NTA had with StarTimes has not yielded any profit despite using your facilities for over one million subscribers.

READ ALSO
Benue State Government Uncovers Over 400 Ghost Teachers And 18 Dead Persons On Payroll

“This is completely unfair to Nigeria. Something is cooking. You must come with the MD of your subsidiary unit overseeing the contractual and operational agreement.”

The NTA boss replied saying: “As an Executive Director in 2009 in NTA, not a single kobo was made from the joint venture with StarTimes, the same situation I met in 2016 when I returned as D-G.

”In fact, on assumption of office as D-G, that was the first question I asked, upon which records of non- profitability was presented by the NTA subsidiary outfit running it. The non- profitability status of the venture remains till today.”

READ ALSO
NMAC Says Nigeria Has 10 Million Out Of School Children, 65 Million Illiterates

Adeola lamented that Nigeria has allowed itself to be treated in a manner that appears as “if there are no laws governing the nation, insisting that the pact must be reviewed.”

Consequently, to dig further, the DG was ordered to appear before the committee again on Tuesday along with the Managing Director of NTA TV Enterprises, Maxwell Loko, supervising the joint venture with StarTimes.

This is despite the Minister of Information and Culture, Lai Mohammed seeking approval of $500 million loan to help upgrade the Nigerian Television Authority (NTA) to the status of the Cable News Network (CNN).

READ ALSO
Access Bank Plans To Cut Staff Salaries, Lay Off 75% Of Its Workers Due To COVID-19 Distress

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

"Africans Must Stop Claiming To Be Black" - Pastor Chris Oyakhilome Slams 'Black Lives Matter' 27

“Africans Must Stop Claiming To Be Black” – Pastor Chris Oyakhilome Slams ‘Black Lives Matter’

Security Man Caught Redhanded Defiling 8-Year-Old Pastor's Daughter In Delta State [Photos] 28

Security Man Caught Redhanded Defiling 8-Year-Old Pastor’s Daughter In Delta State [Photos]