The Socio-Economic Rights and Accountability Project (SERAP) has asked President Bola Tinubu to direct an immediate investigation into alleged financial irregularities totalling about ₦2.9 billion involving two federal agencies.
In a letter dated Saturday, April 11, 2026, signed by its Deputy Director, Kolawole Oluwadare, the group called on the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, and the management of Nigerian Communications Satellite Ltd and Nigerian Nuclear Regulatory Authority to explain audit findings indicating missing, unaccounted for, or potentially diverted public funds.
SERAP also urged the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, to work with anti-corruption agencies to investigate the allegations, prosecute those responsible where evidence exists, and ensure full recovery of any mismanaged funds.
The organisation further demanded that NIGCOMSAT disclose the ownership structure of a private company linked to an alleged ₦465 million “unauthorised investment,” raising concerns over transparency and due process.
The request follows findings contained in the Auditor-General’s report published on September 9, 2025, which highlighted multiple financial lapses across both agencies over several review periods.
According to the report, NIGCOMSAT’s records between 2020 and 2021 show an unauthorized equity investment of ₦465 million made without required approvals or supporting documentation.
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The audit also cited irregular staff payments, failure to remit over ₦507 million in internally generated revenue, and payments for contracts and supplies that lacked evidence of execution.
Additional issues flagged include the transfer of more than ₦84 million between accounts without justification, outstanding debts exceeding ₦1.6 billion that remained unrecovered, and non-remittance of statutory deductions.
For NNRA, audit findings covering 2021 and 2022 point to payments for training programmes without proof of participation, procurement of items not delivered, and unretired cash advances.
The report also noted discrepancies in revenue recording, with funds collected but not captured in official accounts.
SERAP said the allegations point to serious weaknesses in financial oversight within agencies central to Nigeria’s communications infrastructure and nuclear safety system, warning that failure to address them could erode public trust.
The organisation gave the government seven days from the date of the letter to act on its recommendations, failing which it said it would consider legal steps to compel compliance.
It stressed that accountability and recovery of any missing funds are essential to safeguarding public resources and strengthening governance.