Just in: Alleged N2.5bn fraud: Court acquits ex-NBC boss, Modibbo

Justice Folashade Ogunbanjo-Giwa of the Federal High Court, Abuja, has discharged and acquitted Ishaq Kawu Modibbo, a former Director-General of the National Broadcasting Commission (NBC) over his alleged complicity in a N2.5 billion fraud.

The court held that the Independent Corrupt Practices and other related offences Commission(ICPC) failed to establish the allegation.

The court further ruled that the ICPC was unable to establish a connection between the defendant and the alleged offence, beyond the conflicting testimonies of the witnesses.

As a result, the court discharged him of the five-count amended charge brought against him, Dipo Onifade, and Pinnacle Communications Ltd by the anti-corruption agency.

Persecondnews recalls that one of the defendants, Sir Lucky Omoluwa, had passed away during the trial, prompting the ICPC to amend the initial 12-count charge to five counts.

The ICPC alleged that the defendants were involved in irregularities surrounding the award of a N2.5 billion Digital Switch Over (DSO) contract.

It further alleged that Modibbo deceived the Minister of Information and Culture into approving a N2.5 billion payment to Pinnacle Communications Limited, a private company owned by his friend, Omoluwa, who was also a defendant in the case.

The ICPC also alleged that Omoluwa, whose company was unqualified for the grant, illegally transferred N537.25 million of the N2.5 billion to a Bureau De Change operator, who then converted it into its dollar equivalent.

According to the ICPC, the Bureau De Change operator personally delivered the dollar equivalent in cash to Omoluwa’s residence in Kaduna.

The defendants allegedly violated Section 26(1)(c) of the Corrupt Practices and Other Related Offences Act, 2000, an offence punishable under Section 19 of the same Act.

The defendants, who were first arraigned in 2019, maintained their innocence by pleading not guilty to the charges, which were ultimately dismissed by the court on Thursday.

Persecondnews recalls that Modibbo was relieved of his duties by former President Muhammadu Buhari on Friday, February 14, 2020.