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Friday, October 14, 2016

Buhari orders EFCC to return N10bn to NBC

President Muhammadu Buhari has ordered the Economic and Financial Crimes Commission, EFCC, to return the N10 billion seized from the National Broadcasting Commission, NBC, back to the commission.

Director-General of the Commission, Mr. Modibo Kawu, confirmed this, yesterday, during a press briefing on the forthcoming International Conference for African Broadcasters, AFRICAST, starting next week. 

He explained that the President ordered the release of the money to enable the commission meet its digitization target in 2017. 

The fund was the recovered loot and   proceeds from the sales of spectrum made by the past administration said to have been diverted. 

According to the NBC boss, the commission has already commenced processing the release of the money, which will be part of funds expected to be injected into the country’s  digitalization process. “President Muhammadu Buhari has gracious approved that the N10 billion be returned to NBC so that we can use it for digital transmission process. 

The money will be  used as part of what we have being dong so far, I would not be letting out the secret  if I tell you that money that was taking from the account of NBC into the EFCC recovery account,” he said.

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