Monday, April 13, 2026 - The Socio-Economic Rights and Accountability Project has urged President Bola Tinubu to order a full investigation into the alleged disappearance or diversion of N2.9bn in public funds involving the Nigerian Communications Satellite Ltd and the Nigerian Nuclear Regulatory Authority.
SERAP also asked the President to direct the Minister of
Communications, Innovation and Digital Economy, Bosun Tijani, to account for
the alleged funds, alongside the management of both agencies.
In the letter dated April 11, 2026 and signed by its Deputy
Director, Kolawole Oluwadare, the organisation also urged the Attorney-General
of the Federation and Minister of Justice, Lateef Fagbemi (SAN), and
anti-corruption agencies to investigate the allegations and prosecute those
found culpable.
SERAP said the allegations were contained in the
Auditor-General’s report published on September 9, 2025.
“These allegations, involving critical public institutions,
represent a grave violation of the public trust and a fundamental breach of
Nigeria’s anti-corruption laws and international obligations,” the group said.
It added that accountability was necessary to protect
national interests.
“Accountability in NIGCOMSAT and NNRA is critical given
their strategic roles in Nigeria’s digital economy and national safety
systems,” SERAP stated.
The group also demanded that NIGCOMSAT disclose the
shareholders and beneficial owners of a company that allegedly received N465m
described as “unauthorised investment.”
It warned that failure to act within seven days would
trigger legal action.
“We would be grateful if the recommended measures are taken
within seven days… If we have not heard from you by then, SERAP shall consider
appropriate legal actions,” it said.
SERAP cited several financial infractions allegedly
uncovered at NIGCOMSAT, including the N465m investment in Gicell Wireless Ltd,
which it said was carried out without required approvals.
The Auditor-General reportedly stated that the company had
an authorised share capital of “one million ordinary shares of N1 each,” yet
received N465m for 200,000 shares.
It added that there was “no evidence that a competent
investment analyst performed investment appraisal,” and that approvals from
relevant authorities were not obtained.
SERAP also listed alleged irregularities, including N3.1m in
staff reimbursements without documentation, N4.37m rent payment errors, and
N3.48m spent on branding and marketing items without procurement approval.
It further alleged that NIGCOMSAT failed to remit over
N507.9m in internally generated revenue to the Consolidated Revenue Fund.
Other issues included N1.68bn in unrecovered debts, N84.7m
transferred without justification, and N64.7m in unremitted taxes.
At the NNRA, SERAP said the Auditor-General raised concerns
over multiple payments without documentation or evidence of execution.
These include N4.35m for training without proof of holding,
N16.7m spent on ICT equipment without approval, and N33.4m allegedly paid for
items that were never supplied.
It also cited N15m spent on programmes without
documentation, N1.5m cash advance for branded mugs without due process, and
N6.5m in unretired advances.
SERAP added that N2.05m was paid for foreign training in
Dubai, United Arab Emirates, without evidence of attendance, while N1.95m in
penalty revenue was not properly recorded.
“The Auditor-General fears the money may have been diverted
or lost,” the report stated in several instances.
SERAP insisted that anyone found responsible must be
prosecuted and all missing funds recovered.
“Any official entrusted with public resources must be held
to the highest standards of transparency and accountability,” it said.
The organisation warned that failure to act would erode
public trust and weaken Nigeria’s anti-corruption framework.
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