Radio Nigeria Fails to Recover N187m advert debts

The Federal Radio Corporation of Nigeria, FRCN, otherwise known as Radio Nigeria has been indicted by the Auditor General of the Federation, AuGF report over its alleged failure to recover over N187 million advert debts.

The query of the Auditor General against the radio station has however been sustained by the Senate Committee on Public Accounts following the appearance of its Director General Mansur Liman before the Senate panel and unresolved issues.

Chairman of the committee, Senator Mathew Urhoghide (PDP Edo South), sustained the query issued to the corporation pending the time the advert schedule which occasioned the debt is made available to the Senate.

The query reads: “Financial records maintained at Ibadan zonal office (FRCN Ibadan) revealed huge unrecovered advert debts of ₦120,099,666.88 (One hundred and twenty million, ninety-nine thousand, six hundred and sixty-six naira, eighty-eight kobo) owed to the Corporation as at December 2016, as a result of services rendered on credit to some companies by the zonal office.

Unrecovered advert debts of ₦67,842,011.50 (Sixty-seven million, eight hundred and forty-two thousand, eleven naira, fifty kobo) which were in respect of services provided on credit to some companies by the Lagos Operations of the Corporation were being owed to it as at December 2016; and majority of them have been outstanding for more than five years.

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