The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to direct the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, alongside the management of the Nigerian Communications Satellite Ltd (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA), to account for the whereabouts of an alleged ₦2.9 billion in missing or diverted public funds.
SERAP also urged the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), and relevant anti-corruption agencies to investigate the alleged financial irregularities, including those highlighted in 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. The organisation stated that such conduct violates Nigeria’s anti-corruption laws and its international obligations.
The group further called on the Federal Government to compel NIGCOMSAT to disclose the shareholders and beneficial owners of a company that reportedly received ₦465 million through an unauthorised investment.
SERAP emphasised that any individuals found culpable should be prosecuted where sufficient evidence exists, and that all misappropriated funds must be fully recovered and returned to the public treasury. The organisation gave the government a seven-day ultimatum to act, warning that it may initiate legal proceedings if its demands are not met.
Highlighting the strategic importance of the affected agencies, SERAP stressed that accountability in NIGCOMSAT and NNRA is critical to Nigeria’s digital economy and national safety systems. It warned that financial mismanagement in these institutions undermines technological progress, wastes scarce resources, and poses risks to public safety and national development.
The organisation also cautioned that failure to address the allegations would further erode public confidence in government institutions, weaken the country’s anti-corruption framework, and deprive citizens of essential development resources.
The allegations stem from the Auditor-General’s report published on September 9, 2025, which reviewed financial activities within NIGCOMSAT and NNRA and raised multiple concerns over possible mismanagement of public funds.
According to the report, NIGCOMSAT could not account for over ₦465 million invested in Gicell Wireless Ltd without the required approvals from the Minister of Science and Technology and the Accountant-General of the Federation. The report also noted the absence of any investment appraisal by a competent analyst and raised concerns about valuation and exchange rate assumptions.
Additional findings revealed that NIGCOMSAT made irregular payments exceeding ₦3 million to staff without proper documentation or due process. It also flagged an unjustified rent payment of over ₦4.3 million, for which there is no evidence of refund.
The agency was further accused of failing to remit over ₦507 million in internally generated revenue to the Consolidated Revenue Fund, as well as failing to account for over ₦6 million related to undelivered store items. Concerns were also raised over an unexplained transfer of ₦84.78 million from a Remita account to a special project account, with no records indicating how the funds were utilised.
For NNRA, the report alleged that ₦4.35 million was spent on training programmes without evidence they took place, while ₦16.7 million was used to procure ICT equipment without proper approval. It also found that ₦33.4 million was paid for items that were never supplied, alongside several undocumented operational expenses.
Further irregularities included the failure to retire over ₦6.5 million in staff cash advances, lack of evidence for ₦2.05 million spent on foreign training, and the omission of ₦1.95 million in Remita collections from the agency’s cashbook, raising concerns of revenue understatement.
SERAP concluded that the findings point to a systemic pattern of financial mismanagement, opacity, and possible corruption within institutions tasked with critical national responsibilities. It warned that the lapses identified in NNRA also raise serious concerns about compliance with both safety and financial regulations.
