Nigerian Parliament opens audit on NigcomSat-1R satellite
Thursday, 20 August 2020 17:33
The Nigerian House of Representatives Committee on Insurance and Actuarial has initiated an investigation into the financial deals related to the NigcomSat-1R television broadcasting satellite.
The equipment replaced the NigcomSat-1 satellite launched in May 2007 and later lost in space due to a malfunction. According to Vanguard, parliamentarians are mainly interested in knowing how the companies that provided the multimillion-dollar satellite were selected. Darlington Nwokocha, the chairman of the committee, who suspects irregularities in the selection process of these companies, has given NigcomSat seven days to provide all the documents on the insurance transactions and details of the expenses related to the NigcomSat-1R satellite.
The parliamentary inquiry was prompted by six petitions from “concerned Nigerians” in the insurance sector and individuals working for some of the invited organizations. The NigcomSat-1R satellite was launched into space in December 2011 by China Great Wall Industry Corporation (CGWC).
Live News
-
Kenya Central Bank Cuts Benchmark Rate for Ninth Straight Time
15:45
-
Launch of KESSA: The New Generation of African Storytellers Reshapes the Continent’s Narrative
15:34
-
AI Advances Into Moroccan Mining Exploration After Zambia and Botswana
15:24
-
Officials Reveal Rice Project on Track to Slash Import Bill and Meet Local Demand
15:19
-
Nigeria and Saudi Arabia Seal Five-Year Defence Pact
15:11
-
Cameroon Secures New Economic Push as UNDP and Brazil Back Women-Led and Agro-SME Growth
14:42
-
Cameroon Begins Process to Adopt New CEMAC PPP Directive, Aiming to Modernize Its Infrastructure Framewor
14:37
-
South Africa’s Capitec to Buy Walletdoc for $23.5 Million
14:15
-
Egypt’s MoneyHash, Saudi Amwal Tech to Expand Local Payment Options
14:12
-
Pan-African Fintech Ezeebit Raises $2.05 Million
14:08
Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
The Central Bank reduces its policy rate to 9%, marking a ninth consecutive cut. Inflation remains contained at 4.5%, within the 2.5%–7.5% target...
(FRENCH-AFRICAN FOUNDATION) - Story School, the communication school of Mohammed VI Polytechnic University (UM6P), in collaboration with the...
Aterian signs a binding agreement with France’s Lithosquare to deploy AI-driven exploration in Morocco and Botswana under a €1.4 million...
Nigeria and Saudi Arabia signed a renewable five-year MoU covering defence and military cooperation. The agreement expands collaboration on...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...