The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to take immediate action over allegations involving ₦2.9 billion in missing or mismanaged public funds tied to major government agencies.
In a letter dated April 11, 2026, and signed by its deputy director, Kolawole Oluwadare, the organisation called on the Minister of Communications, Bosun Tijani, as well as the leadership of Nigerian Communications Satellite Ltd and the Nigerian Nuclear Regulatory Authority, to account for the funds and provide full transparency.
SERAP also appealed to the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, along with relevant anti-corruption agencies, to investigate the allegations and prosecute any individuals found culpable.
“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 further requested that the government compel NIGCOMSAT to disclose the identities of shareholders and beneficial owners of a company that allegedly received ₦465 million through an “unauthorised investment.”
SERAP emphasised the need for accountability and recovery of public funds, stating, “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.”
The organisation gave the government a seven-day deadline to act, warning that it may pursue legal action if its demands are ignored.
It also highlighted the strategic importance of the agencies involved, noting that any mismanagement could have far-reaching consequences.
“Accountability in NIGCOMSAT and NNRA is critical given their strategic roles in Nigeria’s digital economy and national safety systems. Mismanagement in these agencies not only wastes scarce public resources but also threatens national development, technological progress, and public safety.”
SERAP added that ensuring transparency is essential for both present and future national interests.
“Ensuring accountability is therefore essential to protecting both Nigeria’s present and its future.”
The organisation further warned that ignoring the allegations could weaken public confidence in government institutions and undermine anti-corruption efforts.
“These allegations, if left unaddressed, will continue to undermine public confidence in government institutions, weaken Nigeria’s anti-corruption framework, and deprive citizens of resources needed for development.”
The concerns raised by SERAP are based on findings from the Auditor-General’s report released on September 9, 2025, which reviewed financial activities within NIGCOMSAT and NNRA and flagged multiple irregularities.
According to the report, NIGCOMSAT could not properly account for over ₦465 million used in an unauthorised investment in Gicell Wireless Ltd, reportedly made without the required approvals. It also noted that “there was also no evidence that a competent Investment Analyst performed investment appraisal,” while the agreement raised questions about valuation and exchange rate assumptions.
Additional findings revealed that “NIGCOMSAT made ineligible, irregular and wrong payments of over ₦3 million to staff,” and that “the payment was made without due process and any documents on what the payments were meant for.”
The report also highlighted an irregular rent payment exceeding ₦4.3 million, noting that although a refund was requested, “there was no evidence that the consultant refunded the money.”
Further concerns included the agency’s failure to remit over ₦507 million in internally generated revenue and the inability to account for over ₦6 million linked to undelivered items.
It added that “there was also no evidence of how the transferred funds were spent or utilised,” referring to an irregular ₦84.78 million transfer between accounts.
On the part of NNRA, the report alleged that ₦4.35 million was spent on training without proof it occurred, while ₦16.7 million was used to procure ICT equipment without proper approval.
It also stated that ₦33.4 million was spent on items that were never supplied, and that “there were no documents to support” several operational payments.
The Auditor-General further noted that NNRA “failed to retire over ₦6.5 million of cash advances granted to staff,” and that ₦2.05 million allocated for foreign training lacked evidence of participation.
Additionally, ₦1.95 million collected through Remita was not recorded in official accounts, raising concerns about revenue discrepancies.
SERAP concluded that the findings indicate “a systemic pattern of financial mismanagement, opacity, and corruption within an agency entrusted with advancing Nigeria’s digital and communications infrastructure,” while also warning that lapses within NNRA could have implications for regulatory compliance and national safety.
