By Nworisa Michael
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Ahmed Tinubu to order a full investigation into the alleged disappearance and diversion of over ₦2.9 billion from the Nigerian Communications Satellite Ltd and the Nigerian Nuclear Regulatory Authority.
In a letter dated April 11, 2026, and signed by its Deputy Director, Kolawole Oluwadare, SERAP urged the President to direct the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, alongside the management of both agencies, to “account for and explain the whereabouts of the alleged missing or diverted ₦2.9 billion of public funds.”
The organisation also called on the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, as well as relevant anti-corruption agencies, to investigate the allegations and ensure that any recovered funds are returned to the public treasury.
SERAP further demanded that NIGCOMSAT disclose the identities of shareholders and beneficial owners of a company that reportedly received ₦465 million in what was described as an “unauthorised investment.”
According to SERAP, “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 allegations referenced by the organisation are contained in the latest annual report published by the Auditor-General on September 9, 2025.
Describing the findings as alarming, SERAP stated: “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 warned that accountability lapses in both agencies could have far-reaching consequences, given their strategic roles in national development. “Accountability in NIGCOMSAT and NNRA is critical given their strategic roles in Nigeria’s digital economy and national safety systems,” the organisation noted.
SERAP further stressed that mismanagement within the agencies not only wastes scarce public resources but also threatens technological progress, national development, and public safety.
Detailing specific concerns, the organisation cited multiple instances of alleged financial irregularities at NIGCOMSAT. These include an unauthorised ₦465 million investment in Gicell Wireless Ltd without ministerial approval or proper documentation, irregular staff payments exceeding ₦3 million without due process, and a questionable rent payment of over ₦4.3 million made to the wrong property agent with no evidence of refund.
Additional findings include over ₦507 million in internally generated revenue allegedly not remitted to the Consolidated Revenue Fund, more than ₦6 million paid for items never supplied, and over ₦84 million transferred from a Remita account to a “Special Project” account without justification or documentation on its utilisation.
The Auditor-General also flagged NIGCOMSAT’s failure to recover debts totalling over ₦1.6 billion, as well as the non-remittance of over ₦64 million in statutory taxes deducted from payments to contractors.
SERAP said these irregularities, covering the period between 2020 and 2021, suggest “a systemic pattern of financial mismanagement, opacity, and corruption.”
Similarly, the organisation raised concerns over alleged financial misconduct at the NNRA. These include over ₦4 million spent on training programmes without any evidence they took place, ₦16 million paid for ICT equipment without approval, and ₦33 million disbursed for items such as window blinds and diesel that were never supplied.
Further allegations involve over ₦15 million spent on undocumented activities, ₦1.5 million issued as cash advance for procurement without due process, and ₦9 million paid for store items that were never delivered.
The report also indicated that the agency failed to retire over ₦6.5 million in cash advances granted to staff in 2022 and paid over ₦2 million in course fees for training abroad without evidence of participation.
Additionally, NNRA was said to have collected over ₦1.9 million in penalty fees through Remita without recording it in its cashbook, raising concerns over revenue accountability.
SERAP warned that failure to address the allegations could undermine public confidence in government institutions and weaken Nigeria’s anti-corruption framework.
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter,” the organisation stated, adding that it would consider legal action if its requests are not addressed.
The group maintained that public officials must be held to the highest standards of transparency and accountability, stressing that Nigerians have a right to know how public funds are managed.
“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,” SERAP added.
