HomeFeaturesImo: How IBC's ₦258m Funds Were Diverted And 'Eaten'

Imo: How IBC’s ₦258m Funds Were Diverted And ‘Eaten’

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Details of how over ₦258m said to be part of money provided for the upgrade of facilities and acquisition of new set of transmitters for the Imo Broadcasting Corporation, IBC, have emerged.

IBC, Imo State-owned radio and television station has been in the news for bad reasons in recent times arising from revelations about fraud rocking the outfit.

A few months ago, the present administration set up a probe committee to look into the finances of the corporation. The committee came up with eye-popping reports of high-level embezzlement that have ravaged the outfit.

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Based on the recommendations, the Uzodinma led-government sent packing the Director-General of the IBC, Mr Ezekiel Opara.

Also those alleged to be involved in the illicit affairs were named.

While the dust raised by the outcome of the probe panel is yet to rest, The Eastern Updates got exclusive details of how the funds for an upgraded transmitter and other broadcast equipment were utilised for other purposes not mapped out in the initial plan.

It was learnt that instead of the money going into the account of IBC, the past administration, it was alleged, sent it into the private account of a top management staff. The said management staff, it was further revealed, didn’t transfer the said money, running into several millions into the IBC account and the broadcast organisation didn’t feel the impact of a new transmitter or broadcast items.

According to sources, improper broadcast equipment which were very unnecessary were obtained at a high cost whereas the necessary tools couldn’t be procured. This investigation has thrown open one of the huge embezzlement rackets in the Imo State civil service.



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