Abuja – 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, reports Punch.
The money was the recovered loot and proceeds from the sales of spectrum made by the past administration said to have been diverted.
The money is part of the funds realised by the NBC from the controversial sale of frequency to MTN Nigeria Communications Limited.
The former Director General of NBC, Emeka Mba according to News 24 was accused along with others by the EFCC of having a hand in an alleged diversion of the money.
EFCC had also alleged that the money was transferred to a bank in breach of Federal Government’s directive on Treasury Single Account.
Director-General of the Commission, Modibo Kawu, confirmed Buhari’s directive to the EFCC on Thursday during a press briefing on the forthcoming International Conference for African Broadcasters, (FRICAST) starting next week.
He explained that the President ordered the release of the money to enable the commission meet its digitization target in 2017.