Secrets Reporters
Fresh investigation by this medium has uncovered how Sylvester Othuke Egede, the Port Manager of the Nigerian Ports Authority’s Tin Can Island Port Complex, allegedly orchestrated the diversion of more than N511 million in suspected public funds through personal bank accounts and companies linked to his close relatives.
Egede, who was appointed substantive Port Manager of the Tin Can Island Port Complex in January 2024, is accused of using a network of First Bank of Nigeria accounts and family-controlled entities to receive and quickly move large sums of money believed to be proceeds of corrupt practices at one of Nigeria’s busiest ports.
According to documents and financial transaction details obtained by our investigative team, the transactions primarily flowed through First Bank accounts numbered 2024456751 (a dollar account), 2030422407, 2009369654, and 2000646514.
A highly placed source within the port community, who spoke on condition of anonymity for fear of reprisal, alleged that Egede routinely receives funds into his personal accounts and moves them out almost immediately, often routing them through family members, particularly Egede Oghenefejiro.
On February 2, 2026, the sum of N315,596,160 (Three Hundred and Fifteen Million, Five Hundred and Ninety-Six Thousand, One Hundred and Sixty Naira) was allegedly paid into First Bank Account No. 2024456751. The transaction was described with the code “OFT/CAD/FAA/451/ REV TENTATIVE AMT DD 69.”
Barely two weeks later, on February 15, 2026, another N105,445,800 was paid into the same account. Investigators observed that shortly after these inflows, substantial portions of the funds were transferred to accounts linked to Egede Oghenefejiro, a close relative.
The total amount traced in these two major inflows alone exceeds N421 million, with additional suspicious movements pushing the figure beyond N511 million.
In what appears to be a clear violation of Nigeria’s Code of Conduct for Public Officers and the Code of Conduct Bureau and Tribunal Act, Egede is alleged to have significant interests in private companies operating in the maritime and logistics sector.
One such company is Seashore Logistics and Marine Ltd, incorporated on December 21, 2021, with RC Number 1875979. The company has a paid-up share capital of N30 million and is located at Taofeek Adelekan Crescent, Lagos Mainland. It provides marine and logistics support services.
Directors and shareholders listed for the company include Egede Oghenefejiro, Egede Fancisca, Egede Christy Kevwe, and Egede Francis Oke, all believed to be close family members of the Port Manager.
Another entity linked to the family is Bon Apetit Enterprises, which operates catering services (both indoor and outdoor) and owns several properties. Sources claim the company has benefited from contracts and patronage connected to port operations.
Sylvester Othuke Egede, an indigene of Delta State, rose through the ranks of the Nigerian Ports Authority before his appointment as Port Manager of Tin Can Island in January 2024. Tin Can Island Port is one of Nigeria’s most critical trade gateways, handling a significant portion of the country’s container traffic and generating billions of naira in revenue annually.
The port has long been dogged by allegations of systemic corruption, including extortion, bribery, and irregular contract awards. Egede’s tenure as Port Manager came at a time when the NPA, under Managing Director Abubakar Dantsoho, has been pushing for modernization of Apapa and Tin Can ports to boost efficiency and revenue, with a 2026 revenue target of N1.489 trillion announced earlier in the year.
However, our findings raise serious questions about whether public resources meant for port operations and development are being siphoned off through family proxies.
Anti-corruption experts say such alleged practices undermine efforts to reform Nigeria’s ports, increase the cost of doing business, and erode public trust in government institutions. The diversion of such large sums could have far-reaching consequences on port infrastructure development, staff welfare, and national revenue generation.
SecretsReporters has reached out to Mr. Sylvester Othuke Egede for comments on these allegations, but he had not responded as at the time of publishing. The Nigerian Ports Authority’s Corporate Communications department was also not reachable for an official reaction.