The National Broadcasting Commission (NBC) has sanctioned Arise TV for airing fake reports about the presidential candidate of the All Progressives Congress (APC) Senator Ahmed Bola Tinubu.
The television station was fined N2m for breaching the broadcasting code.
Arise TV apologised on Sunday after reporting the Independent National Broadcasting Commission (INEC) was investigating Tinubu over alleged criminal forfeiture of money on offenses bordering on narcotics and illicit drugs.
INEC at the weekend denied the statement on which Arise TV based its report.
The development forced the station to retract the statement and apologised to Tinubu.