‘Probe worth ₦2.9 billion missing in Communications Satellite, Nuclear Regulatory Agency’, SERAP tells Tinubu

The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to direct Dr. Bosun Tijani, Minister of Communications, Innovation and Digital Economy, and Management of Nigerian Communications Satellite Ltd (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA) to account for and explain the whereabouts of allegedly lost or diverted public funds amounting to ₦2.9 billion from NIGCOMSAT and NNRA.”

SERAP urged him “to direct Mr Lateef Fagbemi, SAN, the Attorney General of the Federation and the Minister of Justice and the anti-corruption agency to investigate allegations of missing or diverted funds, and other public funds diverted from the two agencies documented in previous annual reports by the Auditor General.”

SERAP also urged him “to direct NIGCOMSAT to disclose the shareholders and beneficial owners of the company that raised ₦465 million in ‘unauthorized investments’ from the agency.”

SERAP said, “Anyone alleged to be responsible must face appropriate prosecution, provided there is sufficient admissible evidence, and any lost or diverted public funds must be fully returned and deposited into the treasury.”

These serious allegations are documented in the latest annual report published by the Auditor General on September 9, 2025.

In a letter dated April 11, 2026 and signed by SERAP deputy director Kolawole Oluwadare, the organization said: “These allegations, involving key public institutions, constitute a gross breach of public trust and a fundamental violation of Nigeria’s anti-corruption laws and international obligations.”

SERAP said, “Accountability at NIGCOMSAT and NNRA is critical given their strategic role in Nigeria’s digital economy and national safety system. Mismanagement at these institutions not only wastes scarce public resources but also threatens national development, technological progress and public safety.”

According to SERAP, “Ensuring accountability is critical to protecting Nigeria’s present and future.”

The letter reads in part: “These serious allegations demonstrate a systemic pattern of financial mismanagement, opaqueness and corruption within an institution entrusted with advancing Nigeria’s digital and communications infrastructure.”

“The allegations also raise serious questions about compliance with basic financial regulations and procurement standards at agencies responsible for nuclear safety and public protection.”

“Any official or institution entrusted with managing public resources must apply the highest standards of transparency and accountability. Nigerians have the right to know how their money is being spent.”

“We would be grateful if the recommended steps are taken within 7 days of receipt and/or publication of this letter. If we have not heard from you by that time, SERAP will consider appropriate legal action to compel your government, NIGCOMSAT and NNRA to comply with our requests in the public interest.”

“These allegations, if not addressed, will continue to undermine public confidence in government institutions, undermine Nigeria’s anti-corruption framework, and deprive citizens of the resources they need for development.”

“The Nigerian Communications Satellite Ltd (NIGCOMSAT), Abuja failed to account for over ₦465 million [₦465,000,000.00]’as an unauthorized investment in Gicell Wireless Ltd. NIGCOMSAT ‘paid ₦465 million for 200,000 ordinary shares in Gicell Wireless Ltd.”

“Gicell Wireless ‘has an authorized share capital of One million ordinary shares of ₦1.00 each.’ It is said that ‘the strategic investment was made without the approval of the Minister of Science and Technology and the Accountant General of the Federation.’ NIGCOMSAT claims that ‘the total capitalization of Gicell Wireless Ltd is US$500 million’, but without any documents or legal proceedings.”

“There is also ‘no evidence that a competent Investment Analyst performed the investment appraisal.’ Also, the ‘investment agreement discloses those payments [consideration] calculated based on a currency exchange rate of ₦130.00 to US$1.00’, but ‘the company is a wholly owned Nigerian company.’ The Auditor General is afraid of ‘money’ [₦465 million] may have been redirected.’”

“NIGCOMSAT also made ‘unqualified, irregular and erroneous payments of more than ₦3 million [₦3,122,690.00] to the staff.’ The money was ‘spent on reimbursable costs by staff’, but ‘without any legal process or documentation regarding the purpose of the payments.’ The Auditor General is concerned ‘the money may have been diverted.’”

“NIGCOMSAT made ‘irregular and incorrect rental payments amounting to over ₦4.3 million [₦4,371,428.58] for the Lagos regional office. A 3 bedroom flat ‘located at No Awolowo Road, Ikoyi, Lagos was leased to NIGCOMSAT as Lessee and another consultant as Lessee for a period of two years between 2016 to 2018 for ₦10,395,000.”

“But ‘payment was made to the wrong property agent.’ NIGCOMSAT ‘requested a refund of ₦4,371,428.58 in rent that was mistakenly paid to the consultant,’ but ‘there was no evidence that the consultant returned the money.’ The Auditor General is concerned ‘the money may have been diverted.’”

“NIGCOMSAT also ‘paid over ₦3.4 million [₦3,485,000.00] to its staff between February and December 2020 for installation of vertical blinds, media campaigns, brand logo design, creation of business cards for marketing staff, etc.’”

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“But ‘payments were made without following proper procurement processes and procedures. The Auditor General is concerned ‘the money may have been diverted.’ He wants the money returned and deposited into the treasury.”

“The Auditor General noted that the alleged diversion of public funds by NIGCOMSAT covered the period January 2020 to December 2020.”

“NIGCOMSAT reportedly failed to deliver over ₦507 million [₦507,980,087.33] from internally generated income to the Consolidated Revenue Fund.’ The Auditor General is concerned ‘the money may have been diverted.’ He wanted ‘the money plus all accrued interest’ returned and remitted to the treasury.”

“NIGCOMSAT failed to account for ‘more than ₦6 million [₦6,138,113.59] being payment for store goods that were never supplied.’ The Auditor General is concerned ‘the money may have been diverted.’ He wants the money returned and deposited into the treasury.”

“NIGCOMSAT also ‘irregularly transferred over ₦84 million [₦84,780,260.99] from the REMITTA account to an account called the Special Projects account at different times throughout 2021,’ but ‘without any basis’.”

“There is also ‘no evidence of how the funds transferred were spent or used, to validate the authenticity of the funds transferred.’ The Auditor General is concerned ‘the money may have been diverted.’”

“NIGCOMSAT failed to ‘recover debts totaling over ₦1.6 billion [₦1,686,453,686.00].’ Some of the ‘reported debt has been static for more than 4 years.’”

“The Auditor General wants ‘NIGCOMSAT to account for the money, provide proof of the action taken and the amount recovered from the debt, and forward proof of remittance.’”

“NIGCOMSAT’ failed to deliver more than ₦64 million [₦64,727,215.00] statutory taxes withheld from payments made to various contractors and other beneficiaries as of December 31, 2020.’ The Auditor General is concerned ‘the money may be lost.’”

“The Auditor General noted that the alleged diversion and loss of public funds at NIGCOMSAT covered the period January 2021 to December 2021.”

“The Nigerian Nuclear Regulatory Authority (NNRA), Abuja’ paid over ₦4 million [₦4,350,400.00] for the training of its officers in device optimization and security, basic training for frontline officers between March and June 2021′, but ‘without any documentation and evidence that the training was actually carried out.’”

“The NNRA also ‘failed to provide any details such as participant list, attendance list, certificate of attendance, venue details and program completion report.’ The Auditor General is concerned ‘the money may have been diverted.’”

“NNRA’ paid out more than ₦16 million [₦16,736,675.00] for ICT equipment but without any approval. There is ‘a risk that payment is made for goods not supplied.’ The Auditor General is concerned ‘the money may be lost.’”

“NNRA also ‘paid out over ₦33 million [₦33,480,898.00] for shop items like window blinds, solar inverters, branded mugs, solar purchases, etc., but these items are never supplied. The Auditor General is concerned ‘the money may have been diverted.’”

“NNRA’ paid out more than ₦15 million [₦15,026,098.00] for activities like induction of SERVICOM desk officers, zonal sensitization of NNRA staff, strategic revenue growth programs, coding of items, but without any paperwork.’ The Auditor General is concerned ‘the money may have been diverted.’”

“NNRA also spent ₦1.5 million [₦1,500,000.00] as an advance to staff to purchase branded mugs for the agency, but without following procurement procedures.’ The Auditor General is concerned ‘the money may have been diverted.’”

“The Auditor General noted the above allegations of diversion and loss of public funds at the NNRA covering the period January 2021 to December 2021.”

“NNRA also ‘paid out more than ₦9 million [₦9,097,125.00] purchased store items such as ribbons and films for ID card printing, pump machines, toner cartridges, etc., but without any documents. ‘Item was never provided.’ The Auditor General is concerned ‘the money may have been diverted.’”

“NNRA’ failed pension by more than ₦6 million [₦6,501,163.43] advances given to six staff in 2022 for the purchase of various goods, payment of electricity bills and meeting services.’ The Auditor General is concerned ‘the money may have been diverted.’”

“NNRA’ paid out more than ₦2 million [₦2,054,350.00] as course fees to two of its officers to participate in an International Executive Development program in Dubai but there is no evidence that the officers actually attended the training’. The Auditor General is concerned ‘the money may be lost.’”

“NNRA also ‘collected over ₦1.9 million [₦1,950,000.00] through Remita on behalf of the institution as a fine fee in 2022, but the amount was not recorded in the cash book, resulting in the institution’s income inflow for the 2022 fiscal year being understated. There is a ‘risk of loss of government revenue.’”

“The Auditor General wants the NNRA to ‘account for the money, and show proof that the transactions were recognized in the ledger for the period under review or face sanctions related to failure to collect and account for government revenues and serious violations.’”

The Auditor General noted that the alleged diversion and loss of public funds at the NNRA covered the period January 2022 to December 2022.