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Massive Fraud in NBC: EFCC Set To Prosecute Ex-DG, Emeka Mba, Others

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The Economic and Financial Crimes Commission (EFCC) has recovered the sum of N10,061,172,600 from the National Broadcasting Commission(NBC) being alleged inflation of collateral funds meant for Digital Set-Top-Boxes.

The Nation gathered that the commission is set to prosecute a former Director-General of NBC, Mr. Emeka Mba and three others including the NBC’s Director of Finance, Mr. Patrick Areh, who received a curious transfer of N390million and another N20million cash gift from the contract sum.

Others are the Managing Director, Technology Advisor, Mr. Basil Udotai, and the Managing Director of In-View Technology Limited and D-Vine Partners Limited, Mr. Babatunji Amure.

According to EFCC’s investigation, NBC under Mba defied the Federal Government’s directive of August 7, 2015 on Treasury Single Account (TSA) to divert N15,038,400,000, out of N34,114,500,000 received from MTN for Spectrum Band Width, to finance the contract for the Digital Set-Top -Boxes.

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Out of the diverted N15,038,400,000 as collateral security to Zenith Bank Plc, EFCC investigators discovered that only N4,977,227,400 was needed.

The commission said “only eight (8) out of the 12 companies opened letter of credit amounting to N3,739,727,400.00 while the sum of N1,237,400,000 was for the Digital Access Fees making a total of N4,977,227,400.”

The EFCC said after a reconciliation meeting with the Ministry of Information and Zenith Bank Plc, it was “agreed that N10,061,172,600 was in excess and should be recovered by the EFCC.”

– TheNation

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