The Investment and Security Tribunal has budgeted a total of N7.88
million for maintenance of aircrafts, sea boats and railway equipment in
the 2014 appropriation bill currently before the National Assembly.
A breakdown of the amount shows that N2,388,806 was budgeted for maintenance of aircraft; N584,902 for maintenance of sea boats, while the bulk of N4,907,597 is for maintenance of railway equipment.
This is the first time that these items have appeared in the budget of the IST as analysis of the Tribunal’s budget for 2012 and 2013, did not contain any of these items as part of their expenditure profile.
However, a source within the organisation told LEADERSHIP in confidence that the provision may have been made erroneously by those who prepared the budget, who may have used the template of another agency in the preparation of the Tribunal’s budget.
According to the source, IST does not possess any aircraft, sea boat or railway equipment.
The IST is an independent specialised judicial body established to interpret and adjudicate all capital market, investments and other related matters.
The Tribunal’s total allocation for the 2014 fiscal year is N575.39 million,- marking a decline over the N649.54 in the 2013 budget.
A breakdown of the amount shows that N2,388,806 was budgeted for maintenance of aircraft; N584,902 for maintenance of sea boats, while the bulk of N4,907,597 is for maintenance of railway equipment.
This is the first time that these items have appeared in the budget of the IST as analysis of the Tribunal’s budget for 2012 and 2013, did not contain any of these items as part of their expenditure profile.
However, a source within the organisation told LEADERSHIP in confidence that the provision may have been made erroneously by those who prepared the budget, who may have used the template of another agency in the preparation of the Tribunal’s budget.
According to the source, IST does not possess any aircraft, sea boat or railway equipment.
The IST is an independent specialised judicial body established to interpret and adjudicate all capital market, investments and other related matters.
The Tribunal’s total allocation for the 2014 fiscal year is N575.39 million,- marking a decline over the N649.54 in the 2013 budget.
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