Justice Folashade Giwa-Ogunbanjo of the Federal High Court, Abuja, on Thursday, discharged and acquitted the former Director-General of the National Broadcasting Commission (NBC), Ishaq Kawu of the alleged N2.5 billion corruption charge.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) in 2019 arraigned Kawu and two others over their alleged complicity in the mismanagement of the N2.5 billion seed grant.
Other defendants are Lucky Omoluwa and Dipo Onifade, Chairman of Pinnacle Communications Limited and the Chief Operating Officer respectively.
The trio were arraigned on an amended five-count charge for allegedly diverting funds meant for the Digital Switch Over (DSO) system introduced by the Federal Government.
The commission added that Omoluwa, whose firm was not qualified for such a grant, subsequently transferred the sum of N537.25 million out of the N2.5 billion to a Bureau De Change operator for the dollar equivalent.
The BDC operator was said to have delivered the dollars in cash to the Omoluwa at his residence in Kaduna.
Although the commission filed a 12-count charge against the defendants, it was later amended to five.
The offence, ICPC said was contrary to Section 26(1) (c ) and punishable under Section 19 of the Corrupt Practices and Other Related Offences Act, 2000.
In her ruling, the judge held that the commission failed to prove the allegations against Kawu and other defendants.
