President Muhammadu Buhari has directed the Economic and Financial Crimes Commission (EFCC) to release the N10 billion recovered loot to the National Broadcasting Commission (NBC).
NBC Director General, Mr. Modibbo Kawu revealed this Thursday while briefing Journalists in Abuja on the forthcoming International Conference for African Broadcasters (AFRICAST).
The fund was part of the proceeds from the sales of spectrum made by the past administration.
He said, “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 also assured that going by the level of work, the country will meet up with the Digital Switch Over (DSO) 2017 deadline.
“I am optimistic that we are going to achieve the 2016 digital switch over deadline.
“Two or 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.”
On the planned event, he said “We are thinking about a new future for AFTICAST, we plan to make it bigger and better.”
“We want Afriast to be a permanent industry activity on the global calendar. We also expect stronger and more visible-buy in into the AFRICAST, by the industry.”
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