The Socio-Economic Rights and Accountability Project has urged President Bola Tinubu to take immediate action over allegations of missing public funds totaling ₦2.9 billion linked to two key government agencies.
In a letter dated April 11, signed by its Deputy Director, Kolawole Oluwadare, the organization called on the President to direct the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, to account for the whereabouts of the funds allegedly missing from the Nigerian Communications Satellite Ltd and the Nigerian Nuclear Regulatory Authority.
SERAP also requested that the Attorney General of the Federation, Lateef Fagbemi, alongside anti-corruption agencies, initiate a thorough investigation into the matter. The group emphasized the need for transparency and accountability, noting that the allegations were drawn from findings in the Auditor-General’s annual report published in September 2025.
According to the report, NIGCOMSAT was unable to properly account for over ₦465 million linked to what was described as an unauthorized investment in a private company, Gicell Wireless Ltd. The investment, reportedly made without the necessary approvals, has raised serious concerns about due process and financial oversight. The Auditor-General warned that the funds could have been diverted.
Additional irregularities flagged within NIGCOMSAT include questionable staff payments, unremitted revenues exceeding ₦507 million, unrecovered debts of over ₦1.6 billion, and tax liabilities running into tens of millions of naira. There were also concerns about undocumented expenditures and improper financial transfers.
On the part of NNRA, the report highlighted payments made for training programs without evidence that such activities ever took place. Millions of naira were reportedly spent without documentation such as attendance records or completion reports. Further concerns were raised over payments for ICT equipment allegedly made without proper approvals, as well as other expenses tied to undelivered goods and undocumented projects.
SERAP stressed that these findings point to systemic issues in financial management within the agencies and urged swift action to prevent further loss of public funds. The organization also called for the disclosure of the ownership structure of the company linked to the controversial investment, insisting that Nigerians deserve full transparency.
The call adds to growing public demand for stronger accountability measures in government institutions, as concerns over financial mismanagement and corruption continue to dominate national discourse.
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