Buhari Directs Efcc To Return Seized N10bn To Nbc

Nigerian News: President Muhammadu Buhari has directed the Economic and Financial Crimes Commission, EFCC, to return the N10 billion it seized from the National Broadcasting Commission, NBC, back to the commission's account.

The Director-General of the Commission, Mr. Modibo Kawu, confirmed this on Thursday, during a press briefing on the forthcoming International Conference for African Broadcasters, AFRICAST, adding that the NBC is working towards getting the money to fast track the digitization process.

The fund was the recovered loot and proceeds from the sales of spectrum made by the past administration said to have been diverted. It was seized by the EFCC in March 2016.

Explaining that the President ordered the release of the money to enable the commission meet its digitization target in 2017, Kawu noted that Nigeria is ready to use the digital revolution as a major starting point for revolutionary approach to employment in the country.

Stating that the president knows that the Digital Switch Over is a very important process and very critical to Nigeria's economic success, he expressed optimism on the ability of Nigeria to meet the June 2017 deadline.

“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.

Kawu continued, “I am optimistic that we are going to achieve the 2016 digital switch over deadline.

“Three weeks ago, the President was in United Nations when he met the captains of American industry, he did say something that Nigeria was willing to use digital revolution as a major starting point for kick starting a revolutional approach to employment in our country, that includes digital broadcasting.

“So at the very top level, the President and the people around him, understand that this is a very important process that we need to achieve.”