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 the management of both the Nigerian Communications Satellite Limited (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA) to account for and explain the whereabouts of the alleged missing or diverted ₦2.9 billion of public funds from the agencies.
SERAP urged him to direct Mr Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice, as well as anti-corruption agencies, to investigate the alleged missing or diverted funds, and any other diverted public funds from the two agencies documented in previous annual reports by the Auditor-General (AG).
SERAP also urged him to direct NIGCOMSAT to disclose the shareholders and beneficial owners of the company which collected ₦465 million in ‘unauthorised investment’ from the agency.
SERAP said, “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 grave allegations are documented in the latest annual report published by the AG on 9 September 2025.
In the letter dated April 11, 2026, by SERAP Deputy Director, Kolawole Oluwadare, the organisation said: “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.
“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.”
According to SERAP, “Ensuring accountability is therefore essential to protecting both Nigeria’s present and its future.”
The letter read in part: “These grave allegations suggest a systemic pattern of financial mismanagement, opacity and corruption within an agency entrusted with advancing Nigeria’s digital and communications infrastructure.
“The allegations also raise serious questions about compliance with basic financial regulations and procurement standards in an agency responsible for nuclear safety and public protection.
“Any official or agency entrusted with public resources must be held to the highest standards of transparency and accountability. Nigerians have a right to know how their money is spent.
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal action to compel your government, NIGCOMSAT and NNRA to comply with our request in the public interest.
“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.
“The Nigerian Communications Satellite Ltd (NIGCOMSAT), Abuja, failed to account for over ₦465 million [₦465,000,000.00], ‘being unauthorised investment in Gicell Wireless Ltd.’ NIGCOMSAT ‘paid the ₦465 million for 200,000 ordinary shares in Gicell Wireless Ltd.’
“Gicell Wireless ‘had an authorised share capital of one million ordinary shares of ₦1.00 each.’ The purported ‘strategic investment was made without the approvals of the Minister of Science and Technology and the Accountant-General of the Federation.’ NIGCOMSAT claimed that ‘the total capitalisation of Gicell Wireless Ltd was US$500 million’, but without any supporting documents or due process.
“There was also ‘no evidence that a competent investment analyst performed an appraisal.’ Also, ‘the investment agreement revealed that the payment [consideration] was calculated based on a currency exchange rate of ₦130.00 to US$1.00’, yet ‘the company is a wholly owned Nigerian entity.’ The Auditor-General fears ‘the money [₦465 million] may have been diverted.’
“The Auditor-General noted that the above alleged diverted and lost public funds in NIGCOMSAT covered the period from January 2021 to December 2021.
“The NNRA, Abuja, ‘paid over ₦4 million [₦4,350,400.00] for training of its officers in device optimisation and security, basic training for frontline officers between March and June 2021’, but ‘without any documents or evidence that the training actually took place.’
“The NNRA also ‘failed to provide details such as the list of participants, attendance register, certificates of attendance, venue details and programme completion reports.’ The Auditor-General fears ‘the money may have been diverted.’
“NNRA ‘paid over ₦16 million [₦16,736,675.00] for ICT equipment without any approval. There are risks that the payments were for items not supplied.’ The Auditor-General fears ‘the money may have been lost,’ among others.
The AG therefore asked NNRA to account for the funds and provide evidence that the transactions were recorded in the cashbook for the period under review, or face sanctions relating to failure to account for government revenue and gross misconduct.
The AG noted that the above alleged diverted and lost public funds in NNRA covered the period from January 2022 to December 2022.
