According to Punch, the money is part of the funds realised by the NBC from the controversial sale of frequency to MTN Nigeria Communications Limited.
The EFCC had seized the money following allegation that the broadcast regulatory agency failed to remit it to the Treasury Single Account at the time prescribed by the Federal Government.
The NBC had claimed that the funds were meant for projects being executed for the country’s migration to digital broadcasting. Speaking further, Kawu revealed that the funds would be channelled towards projects and programmes aimed at achieving the transition to digital broadcasting for which a deadline of June 2017 had been set.
The NBC boss said, “We are going to assist a lot of young people to get finances for the production of their contents. We are thinking in terms of content development fund within the NBC and the NBC also provides opportunity for young content providers.”
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