Publisher of Thisday newspapers, Nduka Obaigbena is believed to have made an undertaking to refund the sum N670 Million which he received from the Office of the National Security Adviser (ONSA). Sources at the Economic and Financial Crime Commission confided in newsmen that the publisher, who reported to it on January 26 said that he has already written an undertaking, to refund the money within two weeks, perhaps as precondition to be released on administrative bail. It was learnt that Obaigbena disbursed N568,360,000 from the ONSA heist to establish Arise Global Media Limited, promoters of troubled international pay TV, Arise TV. The amount was said to have been transferred from the account of General Hydrocarbon, which received the initial payment from the ONSA purportedly for a contract that was not stated. The mandate for the first tranche of N150 million paid to General Hydrocarbon by the ONSA indicate that it was for Environmental Security Project, while the remaining tranches were tagged energy consulting. Investigation is said to have failed to establish a nexus between the funds paid to General Hydrocarbon and the alleged monies paid to NPAN members by Obaigbena. “There is so far no established trail of funds moving from General Hydrocarbon’s account and the NPAN account which should have confirmed the claim by Nduka that he received money from ONSA for onward delivery to NPAN members.” In the absence of this link, it is becoming clear that funds were moved from ONSA’a account to fund Arise TV. [myad]
