$2.1b
arms deal: Obaigbena used his share to finance Arise TV
However,
as at last week, the television station was in financial crisis, with Obaigbena
owing over £3 million in wages and payments to content providers
There
were indications on Wednesday that the Publisher of ThisDay newspaper and
President of the Newspapers Proprietors Association of Nigeria, Nduka
Obaigbena, used the greater part of the N670 million he received from the
Office of the National Security Adviser to finance his television project,
Arive TV.
The headquarters of the television station is in the United Kingdom.
According to sources at the Economic and Financial Crimes Commission, Obaigbena disbursed N568,360,000 from the money he received from a former National Security Adviser, retired Colonel Sambo Dasuki, to Arise Global Media Limited, promoters of the international pay TV.
However, as at last week, the television station was in financial crisis, with Obaigbena owing over £3 million in wages and payments to content providers.
Sources at the EFCC said the N568,360,000 was transferred from the account of General Hydrocarbon, which received the initial payment from the ONSA, purportedly for a contract that was not stated.
The mandate for the first tranche of N150 million paid to General Hydrocarbon by the ONSA indicated that it was for Environmental Security Project, while the remaining tranches were tagged: Energy Consulting.
A source disclosed that investigation has so far not established a nexus between the funds paid to General Hydrocarbon and the alleged monies paid to NPAN members by Obaigbena from the $2.1 billion meant for the purchase of arms to battle the Boko Haram insurgency.
The source said: “There is so far no established trail of funds moving from General Hydrocarbon’s account and the NPAN account, which should have confirmed the claim by Nduka that he received money from ONSA for onward delivery to NPAN members.”
In the absence of this link, the source disclosed that it is becoming clear that funds were moved from ONSA’a account to fund Arise TV.
The source disclosed that Obaigbena has already written an undertaking to refund the money collected from ONSA within two weeks.
This is seen as a precondition to be released on administrative bail.
The headquarters of the television station is in the United Kingdom.
According to sources at the Economic and Financial Crimes Commission, Obaigbena disbursed N568,360,000 from the money he received from a former National Security Adviser, retired Colonel Sambo Dasuki, to Arise Global Media Limited, promoters of the international pay TV.
However, as at last week, the television station was in financial crisis, with Obaigbena owing over £3 million in wages and payments to content providers.
Sources at the EFCC said the N568,360,000 was transferred from the account of General Hydrocarbon, which received the initial payment from the ONSA, purportedly for a contract that was not stated.
The mandate for the first tranche of N150 million paid to General Hydrocarbon by the ONSA indicated that it was for Environmental Security Project, while the remaining tranches were tagged: Energy Consulting.
A source disclosed that investigation has so far not established a nexus between the funds paid to General Hydrocarbon and the alleged monies paid to NPAN members by Obaigbena from the $2.1 billion meant for the purchase of arms to battle the Boko Haram insurgency.
The source said: “There is so far no established trail of funds moving from General Hydrocarbon’s account and the NPAN account, which should have confirmed the claim by Nduka that he received money from ONSA for onward delivery to NPAN members.”
In the absence of this link, the source disclosed that it is becoming clear that funds were moved from ONSA’a account to fund Arise TV.
The source disclosed that Obaigbena has already written an undertaking to refund the money collected from ONSA within two weeks.
This is seen as a precondition to be released on administrative bail.
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