NTA-StarTimes Welcomes National Assembly’s Proposed Forensic Audit
As government and other stakeholders in the NTA-Star TV Network Limited continue to bicker over the company’s transactional and financial credibility, the management of the Pay TV company, which is a joint venture between the Nigerian Television Authority and the StarTimes Group has welcomed the forensic audit on its finances and operations, as requested by the Senate’s Joint Committee on Finance and National Planning.
It added that earnings had been repeatedly ploughed back into cost of production to cover cost of components, namely transmitters, equipment, generating sets and satellite. The company also pointed out that this also covers operating costs, which include salaries and other running costs, incurred within our ten years of operation.
“The loss in our operations over the years is as a result of the fact that our huge upfront investment is in U.S. dollars, and the long-term cost recovery has met brick-walls with successive years of naira depreciation.
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