An inquiry into what has happened to the $300m foreign facility obtained by indigenous auto manufacturing group, Innoson Vehicle Manufacturing (IVM) in 2016 for the local production and supply of a minimum Set-Top Boxes to support the FG’s Digital Switch Over (DSO) project being handled by the National Broadcasting Commission (NBC).

It was gathered that the amount was part of Innoson Group partnership with a Consortium of Chinese Investors to pump in $1billion into Nigeria information technology sector of the economy; to include 400 million Nigeria’s DSO Project Digital Satellite TV station and additional $600 million covering other important sectors.

Recalls that in October 2016, the public relations & media assistant at Innoson Group, Cornel Osigwe quoted the Vice President, Prof Yemi Osinbajo, that he had on Monday, October 25, received the consortium of Chinese Foreign Investment Group led by Liu Baoju, a deputy minister of Communist Party of China in Shandong Province where the deal was discussed.

Osigwe noted then that visit which comes as one of the gains of President Muhammadu Buhari’s visit to China will attract a foreign investment of 1Billion USD.

He further gave a breakdown of the investment as currently agreed by the Chinese Consortium as follows; “Financial foreign investment credit facility of $300million USD for local production and supply of a minimum five to eight Million (5-8million) Set-Top Boxes to support the Federal Government of Nigeria Digital Switch Over (DSO) project being handled by the Nigerian Broadcasting Commission in order to meet the deadline switch of June 2017.”

“Financing foreign investment of $100million to establish the latest technology and biggest DTH (Direct-To-Home) Digital BING Television Station across all states of Nigeria.

“In addition, the two above immediate investment is being followed by another 600 Billion USD investment in which negotiations is almost fully concluded with our strategic partners to cover the following areas of Nigerian economy; Smart City (CCTV camera) using cloud computing total solution that is known as E-Policing to cover the whole landmass of Nigeria.

Many who remembered the news of the facility access October last year are calling on the government to find out what happened to the $300m which was specifically accessed with manufacturing STBs in view.

Efforts to speak with the Public Relations & Media Assistant at Innoson Group, Mr. Cornel Osigwe for the company’s angle proved futile as his mobile lines were not reachable as at press time.

https://politicsngr.com/2017/12/20/just-innoson-embroiled-300-million-credit-controversy/
cc: lalasticlala, mynd44

I am so sad about the country's attempt to kill the country. How can the government be trying to create jobs while trying to kill the jobs created by some private companies. We need to learn how much GTB paid now bribes to EFCC to arrest Innoson.

By the time we are done with ourselves, Somalia will be laughing at Nigeria.

The first sentence mentioned "observers". Who are those observers?

Who sponsored this article?

I know exactly what they are trying to do. Tarnish his image as much as they can and attack his credibility.

Edit: OP has modified the article. The way it was originally posted.

Afonja! your propaganda will not work this time

Absolute bunkum

dumebiifeanyi:
An inquiry into what has happened to the $300m foreign facility obtained by indigenous auto manufacturing group, Innoson Vehicle Manufacturing (IVM) in 2016 for the local production and supply of a minimum Set-Top Boxes to support the FG’s Digital Switch Over (DSO) project being handled by the National Broadcasting Commission (NBC).

It was gathered that the amount was part of Innoson Group partnership with a Consortium of Chinese Investors to pump in $1billion into Nigeria information technology sector of the economy; to include 400 million Nigeria’s DSO Project Digital Satellite TV station and additional $600 million covering other important sectors.

Recalls that in October 2016, the public relations & media assistant at Innoson Group, Cornel Osigwe quoted the Vice President, Prof Yemi Osinbajo, that he had on Monday, October 25, received the consortium of Chinese Foreign Investment Group led by Liu Baoju, a deputy minister of Communist Party of China in Shandong Province where the deal was discussed.

Osigwe noted then that visit which comes as one of the gains of President Muhammadu Buhari’s visit to China will attract a foreign investment of 1Billion USD.

He further gave a breakdown of the investment as currently agreed by the Chinese Consortium as follows; “Financial foreign investment credit facility of $300million USD for local production and supply of a minimum five to eight Million (5-8million) Set-Top Boxes to support the Federal Government of Nigeria Digital Switch Over (DSO) project being handled by the Nigerian Broadcasting Commission in order to meet the deadline switch of June 2017.”

“Financing foreign investment of $100million to establish the latest technology and biggest DTH (Direct-To-Home) Digital BING Television Station across all states of Nigeria.

“In addition, the two above immediate investment is being followed by another 600 Billion USD investment in which negotiations is almost fully concluded with our strategic partners to cover the following areas of Nigerian economy; Smart City (CCTV camera) using cloud computing total solution that is known as E-Policing to cover the whole landmass of Nigeria.

Many who remembered the news of the facility access October last year are calling on the government to find out what happened to the $300m which was specifically accessed with manufacturing STBs in view.

Efforts to speak with the Public Relations & Media Assistant at Innoson Group, Mr. Cornel Osigwe for the company’s angle proved futile as his mobile lines were not reachable as at press time.

https://politicsngr.com/2017/12/20/just-innoson-embroiled-300-million-credit-controversy/
cc: lalasticlala, mynd44

Libyan slavery awaits the author of this article

Who knows what they promised the writer of this article??

how much is GTBANK paying BMC'S for propaganda.. or is it that the FEDERAL is behind all this..

Don't understand again..

Balkan:
Afonja! your propaganda will not work this time

Osu leave Yoruba people alone. Stop blaming us for your woes. Tell your ibo brother to pay his debt.
Fvcking Biafran

Cry cry useless tribe. They only know how to blame others and cry victim.
If they born una well, you Ibos should not close your GTB account, okay? Believe me, all ibos working for the bank will be sacked. Not only that, every Yoruba man will close his account in diamond and fidelity bank. Chest beating Biafrans!
Nonsense tribe!!

Balkan:
Afonja! your propaganda will not work this time

guy u kno dey reason straight naa Afonja's help una secure d deal .. abeg dey act like person wey go school