Chairman of Pinnacle Communications, Lucky Omoluwa is dead.
Omoluwa, who was standing trial over a N2.5 billion alleged fraud case involving the National Broadcasting Commission (NBC), died at the National Hospital in Abuja on Tuesday.
Omoluwa first fell ill on Saturday and was admitted at a hospital. He was said to have been discharged after showing signs of improvement.
The deceased reportedly resumed work on Monday but suffered a relapse on Tuesday morning. Omoluwa reportedly died while undergoing treatment.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) is prosecuting Omoluwa alongside Ishaq Kawu, suspended director-general of the NBC, and Dipo Onifade, chief operating officer of Pinnacle Communications.
The anti-graft agency accused Kawu of illegal paying N2.5 billion of the digital switch-over (DSO) funds to the private firm owned by Omoluwa.
The anti-graft agency had demanded Kawu’s suspension pending the outcome of the trial. Kawu was suspended last week on the directive of President Muhammadu Buhari.
The federal government had in 2016, released N10 billion to the ministry of information for the digital switchover programme.
A white paper was issued directing that the process should be explicitly handled by government-affiliated companies.
A total of N1.7 billion was subsequently approved as seed grant for the commencement of the switchover.
But the ICPC said during its investigations, it discovered that the process was fraught with corrupt practices.
It alleged that Kawu fraudulently recommended Pinnacle Communications Limited to the ministry for the release of N2.5 billion against the guidelines contained in the white paper.