Broadcasting
N2.5Bn DSO Allegation: Our Story By Pinnacle Communications
Pinnacle Communications Limited, the private licensed signal distributor for the Federal Government’s approved implementation of the Transition from Analogue to Digital Terrestrial Television (DTT) Broadcasting in Nigeria, has absolved the firm of alleged complicity and misapplication of money meant for the implementation of the digital switch-over (DSO) project.
The management of the company in a statement issued over the weekend, dismissed as untrue, false and unsubstantiated the media reports linking it with the allegation that N2.5 billion seed grant released to the National Broadcasting Commission (NBC) for the project had been misapplied. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) was reported s investigating the allegation.
In the statement by Dipo Onifade, chief operating officer, Pinnacle Communications stated that the firm has always been transparent in all its dealings with the NBC and it has discharged its obligations on the digital switch-over project in compliance with the terms and conditions of the contract.
A statement by the company read:
ICPC Investigates NBC, DSO :
Statement by Pinnacle Communications Limited
The Management of Pinnacle Communications Limited is constrained to issue this statement as a matter of record in response to the flurry of news reports in the media on Thursday evening copiously quoting a statement allegedly attributed to the spokesperson of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Rasheedat Okoduwa disclosing that the Commission was investigating the Nigerian Broadcasting Commission over the “misapplication of N2.5 billion seed grant released to the agency by the federal government for its digital switch-over programme” for which the Commission has so far quizzed the Director General, Dr. Ishaq Moddibbo Kawu, and other top management staff of the agency over their alleged involvements in the misapplication of the fund”.
In view of the references made to Pinnacle Communications Limited in connection with the investigation and the necessity of providing the correct account of the involvement of Pinnacle Communications Limited in the issues raised, which were deliberately omitted and/or distorted in the ICPC spokesperson’s alleged statement as widely reported in the media, we hereby state as follows:
- Pinnacle Communications Limited is the only private licensed signal distributor for the Federal Government approved implementation of the Transition from Analogue to Digital Terrestrial Television Broadcasting in Nigeria in accordance with the 2012 Government White Paper section 11.2 (a) which approved that “more than one signal distributor be licensed in addition to NTA, the public licensed signal distributor. Another signal distributor should be licensed immediately.”
- In the year 2014, Pinnacle Communications Limited emerged successful bidder out of 9 companies after a rigorous public tender and full compliance with due process. Pinnacle Communications was licensed following payment of the stipulated license fees to the National Broadcasting Commission (NBC), NOT NIGERIAN BROADCASTING CORPORATION as stated in the alleged press release of ICPC spokesperson.
- Since then, Pinnacle Communications Limited has been a major facilitator of the Digital Switch Over (DSO) implementation process in Nigeria, notably as the broadcast signal distributor for the National Launch of the DSO in Abuja in 2016 at its state-of-the-art Broadcast Centre on Mpape Hill, performed by His Excellency, Yemi Osinbajo, Vice President of the Federal Republic of Nigeria. The Company was also responsible for the Kaduna Digital Broadcast Signal Distribution Centre commissioned in 2017 by the Kaduna State Governor, His Excellency, Nasir Ahmed El-Rufai.
- This factual background to the involvement of Pinnacle Communications Limited in the DSO project in Nigeria is contrary to the alleged statements attributed to the ICPC spokesperson that the company was “fraudulently recommended to the Minister of Information and Culture for the release of N2.5 billion against the guidelines contained in the White Paper” and further reference to Pinnacle Communications as “an unqualified company.” The 2014 licensing of Pinnacle Communications in the DSO predates the appointment of the current DG of NBC in 2016.
- The DSO is all about the transition from Analogue to Digital Terrestrial Television (DTT).
Broadcast Engineering is a field in which Pinnacle Communications Limited has earned recognition and patronage for more than two decades of expertise and dependability of world class service and installations across Nigeria.
- Neither the DSO nor Pinnacle Communications Limited has anything to do with “migration of telephone lines from analogue to digital platforms” as the ICPC spokesperson is alleged to have stated.
- Pinnacle Communications maintain that the facts and clarifications provided above sufficiently define the context and extent of its involvement in the implementation of the DSO program in Nigeria and the nature of its working relationship with the National Broadcasting Commission (NBC).
- While noting that the ICPC spokesperson allegedly stated that the Commission was investigating “misapplication of N2.5 billion seed grant released to the agency (NBC) by the federal government for its digital switch-over programme” we wish to clearly emphasize that Pinnacle Communications Limited has not and cannot as a licensee of NBC trespass into the statutory functions of the NBC and/or the Federal Ministry of Information on the implementation of the DSO program.
- To this extent therefore, all transactions between NBC and Pinnacle Communications have always been transparent and within the official approved operational guidelines and regulations as processed and executed by the NBC and in compliance with the terms and conditions of the license for signal distribution that Pinnacle Communications duly obtained.
- Having made all the necessary statements in response to the ICPC’s investigations and taking cognisance of the pendency of Suit No FHC/ABJ/CS/779/2018 that Pinnacle Communications instituted in July 2018 in the Federal High Court, Abuja on a related matter against ICPC and 2 others,(NOT RELATED TO STOPPING ANY INVESTIGATION BY ICPC) Pinnacle Communications considers it unprofessional, ill-advised, injudicious, prejudicial and unfair for the ICPC spokesperson to make as alleged random references to disjointed portions of comprehensive submissions to its investigators, clearly skewed to portray Pinnacle Communications Limited as complicit in the alleged or any “misapplication” of funds by the NBC, over which Pinnacle Communications have no responsibility or control. Pinnacle Communications challenges the ICPC spokesperson, if the alleged press release was indeed made by her, to publish the full statements made to the ICPC by Pinnacle officials.
- Moreover, if truly made, the ICPC statement went beyond mere announcement of on-going investigations into the realm of unsubstantiated incriminations in the fashion of trial-by-media that invariably paints a premature and amateur picture of guilt, prior to judicial determination.
- In the circumstance, Pinnacle Communications Limited shall refrain from further clarification of the muddled statement allegedly issued by the ICPC spokesperson in its firm belief that judicial process will provide the appropriate and fair opportunity to comprehensively and decisively prove its hard-earned reputation as a world class company that, unlike the ICPC spokesperson, upholds integrity, ethics and legality in all its transactions, in accordance with international best practices.
- Pinnacle Communications wishes to assure NBC, stakeholders in the DSO, its staff, international and local business associates and numerous clients that it remains committed to meeting all its obligations notwithstanding the malicious statement by the ICPC spokesperson.
DIPO ONIFADE
COO
PINNACLE COMMUNICATIONS LIMITED
David Adedeji Adeleke, known professionally as Davido, has shared his past suicidal thoughts as he dropped Oriadé, his sixth studio album yesterday.
Davido
Davido said he chose the date on purpose as it marks exactly 15 years since he began his professional music career.
Oriadé is a Yoruba word combining “Ori,” meaning destiny, and “Adé,” meaning crown.
It translates to “the crowned head.” The album has 13 tracks and features Black Sherif, Aya Nakamura, Leon Thomas, Mayorkun, and Llona.
It follows his 2025 project, 5ive, which reached number two on the Billboard World Albums chart.
Davido also announced an international tour to support the new record.
In the days leading up to the release, Davido gave interviews that revealed personal details about his past and his current life.
Speaking to Vibe Magazine on Thursday, he described a 2014 incident in Ghana that left him feeling suicidal.
He said he invited a woman back to his hotel room after a show, and she later posted a photo of him sleeping online.
He said the fallout overwhelmed him.
“My daddy was calling me. My sisters were calling me. If I saw the balcony that day, I would have jumped,” he said.
He said he was young at the time and did not fully understand the consequences of his actions.
He described the experience as a turning point that changed how he thinks about privacy and fame.
In the same interview, he explained why he often dresses down in public despite his wealth.
He recalled a trip to the South of France where he went out in shorts and slippers without his watch.
“I’ve been on jets, I’ve been flying, I’ve been in all these places since I was a baby. I’ve been seeing money since I was a baby. So all these things don’t really excite me,” he said.
He added that he sometimes prefers to drive a Toyota to the supermarket in Atlanta instead of one of his luxury cars.
In a separate livestream with Davrel, Davido spoke about how his life has changed since marrying his wife, Chioma, and becoming a father.
He said his home no longer holds the large crowds it once did.
“I can no longer have 100 people in my house like before,” he said.
He said he speaks to Chioma every day regardless of his schedule.
He also disclosed that he spends between $200,000 and $300,000 a month on himself, not including costs for his wife, children, jewelry and cars.
He said the amount is lower when he is in the United States, where he described his lifestyle as quieter.
Africa Prudential Plc has reaffirmed its commitment to digital transformation, revenue diversification and sustainable growth after reporting a strong financial performance for the first half of 2026.
Dr Catherine Nwosu
The company made this known during its H1 2026 Investor Call, which brought together institutional investors, shareholders, investment analysts, regulators and other stakeholders to review its financial performance and strategic outlook.
Dr Catherine Nwosu, managing director and Chief Executive Officer of Africa Prudential, said the company’s performance reflected the resilience of its business model and the effectiveness of its long-term growth strategy despite prevailing macroeconomic challenges.
According to the company’s financial results, gross earnings rose by 27 per cent year-on-year to N4.28 billion, from N3.34 billion recorded in the corresponding period of 2025.
Profit before tax increased by 22 per cent to N2.41 billion, while profit after tax grew by 18 per cent to N1.59 billion.
The company also reported a 27 per cent rise in net operating income to N4.21 billion, while total assets increased by 13 per cent to N46.53 billion.
Shareholders’ funds equally rose by 13 per cent to N12.52 billion, reflecting continued financial strength.
Management attributed the performance to sustained growth in its core registrar business, increased corporate action activities in the Nigerian capital market, improved treasury earnings and rising adoption of its technology-driven solutions.
The company said it was steadily transforming from a traditional share registrar into a broader technology and business solutions provider serving Nigeria’s capital market ecosystem.
During the interactive session, investors sought clarification on the sustainability of earnings, particularly as interest rates are expected to moderate.
Responding, Nwosu said the company was deliberately expanding its recurring fee-based revenue streams to reduce dependence on treasury income.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams.
“Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, Annual General Meeting (AGM) technology, probate services and the SabiVest mobile app.
“Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
Nwosu noted that increasing capital market activities had created stronger demand for seamless digital investor experiences, improved operational efficiency and enhanced compliance solutions.
She said the company would continue investing in technology-enabled products capable of delivering long-term value to shareholders while strengthening its competitive position.
According to her, Africa Prudential has identified five strategic priorities for the second half of 2026.
The priorities include driving sustainable growth across its core registrar and emerging business lines, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and deepening corporate governance.
She said the investor engagement demonstrated the company’s commitment to transparency, accountability and regular engagement with shareholders and the investment community.
Africa Prudential reaffirmed its commitment to leveraging innovation, operational excellence and sound financial management to sustain growth and strengthen its leadership position in Nigeria’s capital market.
Gugu Gumede and S’Dumo Mtshali, the power couple in Netflix’s telenovela, The Polygamist, will be guest on this week’s edition of African Voices, which is sponsored by Globacom on Cable News Network (CNN).
The 22-episode sitcom focuses on the misadventures of an adulterous spouse who unknowingly entangles his family in the difficulties of polygamy.
The film depicts a series of intrigues, betrayals, and other events that shattered the harmony of a once-perfect marriage.
The fictional couple in Johannesburg are interviewed by the programme’s anchor, Larry Madowo, for a 30-minute show in which they discuss their personal experiences and the difficulties they have in the film industry, such as coping with popularity and typecasting and advocating for more actor protections.
Gumede, a 34-year-old South African who attended the American Academy of Dramatic Arts in Los Angeles to study acting, portrayed Joyce Gomora in the telenovela.
In addition to her part in The Polygamist, Gumede has portrayed Mamlambo, a prophetess on “Uzalo”, the most watched television program in South Africa, and Mandisa in “Generations”, one of the country’s most popular series.
Mtshali, a 43-year-old South African actor who portrayed Jonasi Gomora, gained notoriety in 2010 after competing in and winning the SABC1 reality program, “Class Act”. In the same year, he landed his first major part in the drama series “Intersexions” on SABC1.
Among other films, he has starred in “Inside Story” (2011), “Avenged” (2013), “iNumber Number: Jozi Gold” (2023), “Back of the Moon”, and “The Four of Us” (2025).
This special double-cast episode will feature on DSTV channel 401 on Saturday at 8a.m. It will be repeated same day at 11a.m., Sunday at 3.30a.m.,6p.m., Monday at 3a.m. and 5.45p.m. as well as on Tuesday,5.45p.m.
The repeats continue next week Saturday at 7.30a.m., 11a.m.;Sunday 3.30a.m., 6p.m.,and on Monday at 3a.m.
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