The Socio-Economic Rights and Accountability Project (SERAP) has called on Bola Tinubu to order an investigation into the alleged disappearance and mismanagement of N2.9 billion in public funds within key government agencies.
In its appeal, SERAP urged the President to direct the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, alongside the leadership of the Nigerian Communications Satellite Ltd (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA), to account for the funds and explain their whereabouts.
The organisation also pressed the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, as well as anti-corruption agencies, to probe the alleged financial irregularities, many of which were highlighted in previous reports by the Auditor-General.
In a letter dated April 11, 2026, signed by its Deputy Director, Kolawole Oluwadare, SERAP described the allegations as a serious breach of public trust and a violation of Nigeria’s anti-corruption laws and international obligations.
“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 organisation stated.
SERAP further called on the Federal Government to compel NIGCOMSAT to disclose the identities of shareholders and beneficial owners of a company that allegedly received N465 million through what it described as an “unauthorised investment.”
“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 group added.
The organisation issued a seven-day ultimatum to the government to act on its demands, warning that it would consider legal action if there is no response.
It stressed the importance of accountability in both agencies, noting their strategic relevance to Nigeria’s development.
According to SERAP, mismanagement in these institutions undermines not only public finances but also national security and technological progress.
“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,” the letter read.
SERAP warned that failure to address the allegations could erode public confidence in government institutions and weaken the country’s anti-corruption framework.
“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,” it said.
The claims are based on findings from an Auditor-General’s report published on September 9, 2025, which examined financial activities in both NIGCOMSAT and NNRA and raised multiple concerns about possible mismanagement.
According to the report, NIGCOMSAT could not account for over N465 million used for an unauthorised investment in Gicell Wireless Ltd, reportedly carried out without approvals from the relevant authorities, including the Minister of Science and Technology and the Accountant-General of the Federation.
The report also flagged irregular payments exceeding N3 million made to staff without proper documentation, as well as a questionable rent payment of more than N4.3 million that was not refunded despite requests.
In addition, NIGCOMSAT was said to have failed to remit over N507 million in internally generated revenue to the Consolidated Revenue Fund and could not account for more than N6 million tied to undelivered store items.
An additional N84.78 million transfer between accounts was also flagged, with no clear explanation of how the funds were utilised.
For the NNRA, the report alleged that N4.35 million was spent on training programmes without evidence they took place, while N16.7 million was used to procure ICT equipment without the required approvals.
It further revealed that N33.4 million was paid for items that were never supplied, alongside several undocumented operational expenditures.
The Auditor-General also noted that NNRA failed to retire over N6.5 million in cash advances issued to staff, while N2.05 million allocated for foreign training lacked proof of participation.
Additionally, N1.95 million collected through Remita was reportedly not recorded in the agency’s cashbook, raising concerns about revenue discrepancies.
SERAP concluded that the findings suggest a broader pattern of financial mismanagement, opacity, and possible corruption within the agencies, warning that such lapses pose risks not only to public funds but also to Nigeria’s institutional credibility and future development.
