Contrary to reports that N15 billion fraud was committed at the National Broadcasting Commission, NBC, the President of Set-Top Box Manufacturers Association of Nigeria, Mr. Geoffrey Ohuabunwa, has said that the money was intact.

According to him, the money, which came to N34 billion went straight into the NBC account domiciled with the Zenith Bank, saying that the NBC DG, Mr Emeka Mbah “deserved an honour for innovation and raising the N34 billion, and not a ‘cell term’”

He made these known while speaking on a Channels Television breakfast show, Sunrise Daily.

Ohuabunwa stated that he was taken aback when he first saw the news item, which purported that there was a N15 billion fraud at the NBC, for which the Director-General of the Commission, Mr. Emeka Mbah, was picked up and detained by the Economic and Financial Crimes Commission, EFCC.

He explained: “Last year, Mr. Sola Taylor, who is the President of the International Telephone Union for West Africa, came to Nigeria for a conference. He brought up an idea that Nigeria could license somebody that could buy one of the frequencies. I think that was what the NBC did.”

Meanwhile, the EFCC has released the Director- General of the NBC, Mr. Mbah, on administrative bail.