By Ayo Kehinde
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to direct Dr. Bosun Tijani, Minister of Communications, Innovation and Digital Economy, and the management of both the Nigerian Communications Satellite Ltd (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA) to account for and explain the whereabouts of the alleged missing or diverted ₦2.9 billion of public funds,” even as the organisation called for a sweeping investigation to strengthen accountability and restore public confidence in key national institutions.
In a letter dated April 11, 2026, and signed by its Deputy Director, Kolawole Oluwadare, SERAP further urged the President “to direct Mr. Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice, and anti-corruption agencies to investigate the alleged missing or diverted funds, and any other diverted public funds from the two agencies documented in previous annual reports by the Auditor-General.”
The group also pressed for transparency in financial dealings, asking the government “to direct NIGCOMSAT to disclose the shareholders and beneficial owners of the company which collected ₦465 million in ‘unauthorised investment’ from the agency,” noting that such disclosure would reinforce public trust and corporate accountability.
SERAP maintained that “anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and remitted to the treasury,” underscoring the importance of enforcing consequences within Nigeria’s anti-corruption framework.
The allegations referenced by SERAP are drawn from the latest annual report published on September 9, 2025, by the Office of the Auditor-General for the Federation, which documented multiple financial irregularities across both agencies.
According to the organisation, “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.”
Highlighting the broader implications, SERAP stated that “accountability in NIGCOMSAT and NNRA is critical given their strategic roles in Nigeria’s digital economy and national safety systems,” warning that “mismanagement in these agencies not only wastes scarce public resources but also threatens national development, technological progress, and public safety.”
The organisation stressed that “ensuring accountability is therefore essential to protecting both Nigeria’s present and its future,” framing the call as part of ongoing efforts to strengthen governance and institutional integrity.
Details from the Auditor-General’s report cited by SERAP indicate that the Nigerian Communications Satellite Ltd failed to account for over ₦465 million linked to an unauthorised investment in Gicell Wireless Ltd, reportedly made without requisite approvals or supporting documentation.
The report noted concerns that the funds “may have been diverted,” citing the absence of due process, investment appraisal, and verifiable records.
Further findings showed that NIGCOMSAT allegedly made several irregular payments, including over ₦3 million in undocumented staff reimbursements, ₦4.3 million in rent paid to a wrong property agent without evidence of refund, and ₦3.4 million for projects executed outside established procurement procedures.
The agency was also reported to have failed to remit over ₦507 million in internally generated revenue to the Consolidated Revenue Fund, alongside unaccounted payments exceeding ₦6 million for undelivered store items, and the irregular transfer of over ₦84 million to a “Special Project account” without justification or documentation.
In addition, the report flagged outstanding debts totalling over ₦1.6 billion that remained unrecovered for years, as well as unremitted statutory taxes exceeding ₦64 million, raising serious concerns about compliance with financial regulations.
Similarly, the Nigerian Nuclear Regulatory Authority was cited for multiple questionable expenditures, including over ₦4 million spent on training programmes without evidence that they took place, and ₦16 million paid for ICT equipment without approval or proof of delivery.
Other flagged transactions include over ₦33 million for store items not supplied, ₦15 million for undocumented activities, and ₦1.5 million issued as a cash advance outside procurement guidelines.
Additional concerns were raised over unretired cash advances, unverified training expenses abroad, and discrepancies in revenue recording, all of which the Auditor-General warned could indicate diversion or loss of public funds.
SERAP warned that “these grave allegations suggest a systemic pattern of financial mismanagement, opacity, and corruption within an agency entrusted with advancing Nigeria’s digital and communications infrastructure,” adding that similar lapses in NNRA raise “serious questions about compliance with basic financial regulations and procurement standards in an agency responsible for nuclear safety and public protection.”
The organisation reiterated that “any official or agency entrusted with public resources must be held to the highest standards of transparency and accountability. Nigerians have a right to know how their money is spent.”
Giving a timeline for action, SERAP stated: “We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter.
If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government, NIGCOMSAT, and NNRA to comply with our request in the public interest.”
