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, a golfer and top philanthropist, was accused by the Independent Corrupt Practices and other related offences Commission of digital switchover fraud to the tune of N2.5 billion.
The alleged collaborators used Pinnacle Communications, a broadcast engineering firm run by Mr Omoluwa, to carry out the suspicious transactions.
Multiple 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.
Rasheeda Okoduwa, a spokesperson for ICPC, did not immediately return a request seeking comments about the potential impact of Mr Omoluwa’s passing on the ongoing trial.
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