Fraud in NBC: EFCC recovers N10b, set to prosecute ex-DG Mba, three others
The Economic and Financial Crimes Commission (EFCC) has recovered NN10,061,172,600 from the National Broadcasting Commission(NBC) being

alleged inflation of collateral funds meant for Digital Set-Top -Boxes.

The commission is set to prosecute a former Director-General of NBC, Mr. Emeka Mba and three others.

Also to face trial is 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.

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 ( 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.”

Mba and others will face trial for non-compliance with the Federal Government’s directive on TSA, abuse of the Procurement Law, and award of contracts beyond the N50million spending limit of the DG of NBC.

A document obtained last night reads in part: “Sometimes in 2015, the Federal Government through the Office of the Head of Service issued a circular dated 7/8/2015 directing all government parastatals and agencies to mop up all government funds in commercial banks to Treasury Single Account( TSA) with CBN.

“However the NBC in a flagrant disobedience to the directives of the government diverted the funds in its accounts to some companies.

“That on 28/7/15, the NBC received an inflow of N34,114,500,000 (Thirty four billion, one hundred and fourteen million, five hundred thousand Naira) from the MTN Operations Account being proceed of lease of Spectrum Band Width licensed to MTN by the commission.

“That while the funds were in the account of NBC, the FG issued a circular dated 07/08/2015 to the effect that all government agencies and parastatals should mop up and move all the funds in their accounts to Treasury Single Account (TSA) with the CBN. This directive was to both the agencies and the banks that maintained those accounts.

“That despite the directives, the DG National Broadcasting Commission and the bank in a flagrant disobedience to the directive transferred the sum of N2,899,500,000 to the account of Technology Advisor on 12/08/15 and then moved the sum of N15,038,400,000 in two tranches on 10/09/2015 and 14/09/2015 to Zenith Bank Plc which he claimed was a collateral security for Set-Top-Boxes suppliers while the balance of N15,891,625,341.57 was transferred to TSA in CBN on 15/09/2015.

“That as soon as Technology Advisor received the funds in its account, he commenced distribution to several beneficiaries which include N390,000,000 and N20,000,000 paid to the Director of Finance and Accounts, Mr. Patrick Areh through Kalaz Ventures Limited, a Bureau De Change operated by Abdullahi Kabiru who confirmed receiving the funds which he transferred the sum of N130million to Azuku Global Resources Limited while the balance was exchanged into dollars and handed over to MD Azuku Global Resources Limited, one Ibrahim Samaila fir onward transmission to the Director of Finance and Accounts, Mr. Patrick Areh.

“That Areh confirmed receiving part of the funds in dollars while the balance of N130million was given to Azuku Global Resources Limited for the construction of his Radio House at Onitsha, Anambra State.

“That In-View Technology Ltd was contracted to provide Digital Access for the Set-Top -Boxes and was paid N1,237,400,000 out of which the company transferred N20million to Patrick Areh through Azuku Global Resources
http://telltimes..com/2016/03/national-assembly-tells-buhar-to-drop.html

What is wrong with people holding public offices in Nigeria?

Everybody stealing left and right.

Hopefully, some youths somewhere will not hold placards for Mr. Emeka Mba, protesting that their Kinsman should be released, because he is from a certain part of the Country.

HungerBAD:
What is wrong with people holding public offices in Nigeria?

Everybody stealing left and right.

Many people see being in public office as a case of "God don butter my bread" rather than an opportunity to render honest service.
That is why people steal at the slightest opportunity.

One id1ot came on channel tv sometimes ago to defend this scam. Corruption in this country is carried out by well organized syndicate. Starting from the thief himself to the bank, the media and useless youths that would carry placards and write rubbish on social media such as NL to defend their corrupt kinsmen and brothers.

''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.”........Sheer fraud!

Corruption everywhere! I pray the judiciary can really suport this Govt to fight this monster which has eaten deep into every sector.
This is one of the reason I like military regime cos all these court processes takes time and this fight against corruption can't be totally won with corrupt judges

Ironically some no do good miscreants will only look at the names of these thieves and conclude it's a witch hunt,

When they start dealing with them now, Some NFA (No future ambition will carry placard to protest against detention of their brothers, meanwhile this people no send you when they're stealing billions, SMH..

That Areh confirmed receiving part of the funds in dollars while the balance of N130million was given to Azuku Global Resources Limited for the construction of his Radio House at Onitsha, Anambra State.

To broadcast Hate messages....Smh!

lalasticlala

This is long overdue. Like I use to say in my other comment "All Yams Eaters Must Return Them and Go to Jail".

IPOB youths will soon come to accuse the government of victimisation

They will fail to see how Emeka Mba stole billions in public money

Some of the stolen money was also used in funding IPOBic activities.

The EFCC should fast track the prosecution of these corrupt toads

Not again

All I read is arrest this , prosecution that ... when will I ever read that they have all been jailed  Please , all other areas are in total mess.. hike in Electricity Tarrif = Poor Power supply , NNPC corruption = Long queue at filling stations or no sales at all. I hope we won't end up seeing another coup d'état in Nigeria ..

This country self! na only billion billion dem dey steal...who dey spend dis money?

When God finally wants to deal with your enemy

M

people have really messed this country.. too bad

Thanks for buari who make diz TSA work

At what point will these people get tired of stealing?

imagine embezzlement up and down, left and right I wonder what will happen if the last administration is still in power

Gross and massive mismanagement of public funds... Oh God punish them and their generations yet unborn for this act.

Some could bearly afford 50naira bread while some diverting 10billion naira...

We are getting , some idiot will b like hmmmm bauri is bad man


U just want everything to change withing a minute , let give diz man chance , mind u , if buari fail , we all fail


U need to know that

Corruption in Nigeria is a syndicate. Everybody gets a cut. You only get busted when your party loses power.

Shame on Mr. Emeka Mba

every sector with it's own embezzlement tactics....these are the type of thieves that should be burn alive

InTo Which purse(s) are all these recovered money going to?

was MBA secretly assisting radio Biafra?

when osibanjo said corruption is a virus in the system and it will take total overhauling of our mind set as a nation, he was right.

All I read is arrest this , prosecution that ... when will I ever read that they have all been jailed Please , all other areas are in total mess.. hike in Electricity Tarrif = Poor Power supply , NNPC corruption = Long queue at filling stations or no sales at all. I hope we won't end up seeing another coup d'état in Nigeria ..

During GEJ regime corruption is nothing, now baba is after dem to retrieves our lost treasures and some bastards will tag dis witch hunt, yet they care not when they single handedly milked us dry

E no go better for whoever calls Mr President "Dullard"again