N2.5 Billion NBC Scandal: Pinnacle’s Lucky Omoluwa slumps, dies

Lucky Omoluwa, chairman of Pinnacle Communications Limited, has died.

Family sources and associates disclosed that Mr Omoluwa died at the National Hospital, Abuja.

His death comes amidst the commencement of trial in a corruption case involving his company, himself, and Modibbo Kawu, the suspended head of the federal broadcast regulator, the Nigerian Broadcasting Commission.

Mr Omoluwa was accused by the Independent Corrupt Practices and other related offences Commission of digital switchover fraud to the tune of N2.5 billion.

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The alleged collaborators used Pinnacle Communications, a broadcast engineering firm run by Mr Omoluwa, to carry out the suspicious transactions.

Sources said Mr Omoluwa slumped on Tuesday morning and later passed on at the hospital, which has not yet issued a statement on the development.

Meanwhile, Independent Corrupt Practices and other related offences Commission is yet to react especially on the potential impact of Mr Omoluwa’s death on the ongoing fraud trial.