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 Ltd (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 NIGCOMSAT and NNRA.”
SERAP urged him “to direct Mr Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice and 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.”
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 Auditor-General on 9 September 2025.
In the letter dated 11 April 2026 and signed 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.”
SERAP said, “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 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions 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 capitalization of Gicell Wireless Ltd was US$500 million’, but without any documents and due process.”
“There was also ‘no evidence that a competent Investment Analyst performed investment 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’, but ‘the company is a wholly owned Nigerian company.’ The Auditor-General fears ‘the money [₦465 million] may have been diverted.’”
“NIGCOMSAT also made ‘ineligible, irregular and wrong payments of over ₦3 million [₦3,122,690.00] to staff.’ The money was ‘spent on reimbursable expenses to staff’, but ‘without due process and any documents on what the payments were meant for.’ The Auditor-General fears ‘the money may have been diverted.’”
“NIGCOMSAT made ‘irregular and wrong payment of rent of over ₦4.3 million [₦4,371,428.58] for Lagos regional office. A 3-bedroom flat ‘situated at No Awolowo Road, Ikoyi, Lagos was leased to NIGCOMSAT as the Lessee and another consultant as the Lessor for the period of two years between 2016 to 2018 for ₦10,395.000.”
“But ‘the payment was made to a wrong property agent.’ NIGCOMSAT ‘requested a refund of rent of ₦4,371,428.58 wrongly paid to a consultant,’ but ‘there was no evidence that the consultant refunded the money.’ The Auditor-General fears ‘the money may have been diverted.’”
“NIGCOMSAT also ‘paid over ₦3.4 million [₦3,485,000.00] to its staff members between February and December 2020 for the installation of vertical curtains, media campaign, design of logo brand, production of business card for marketing staff, etc.’”