April 12, 2026
SUNTV Global Channel | News
The Socio-Economic Rights and Accountability Project has issued a seven-day ultimatum to President Bola Ahmed Tinubu to investigate alleged missing and diverted public funds totaling ₦2.9 billion in key government agencies.
In a letter dated April 11, 2026, and signed by its Deputy Director, Kolawole Oluwadare, the organisation called for immediate action over financial irregularities involving the Nigerian Communications Satellite Limited and the Nigerian Nuclear Regulatory Authority.
SERAP urged the President to direct the Minister of Communications, Dr. Bosun Tijani, alongside the agencies’ management, to account for the funds and clarify their whereabouts.
The group also called on the Attorney General of the Federation, Lateef Fagbemi, and anti-corruption agencies to investigate the allegations and prosecute anyone found culpable.
According to SERAP, the claims are based on findings from the Auditor-General’s report published in September 2025, which highlighted multiple financial discrepancies and unaccounted expenditures.
Among the issues raised, NIGCOMSAT was accused of investing ₦465 million in a private firm without proper approval or documentation, raising fears of possible diversion. The agency was also alleged to have failed to remit over ₦507 million in internally generated revenue to the Consolidated Revenue Fund.
Other audit concerns include unaccounted store items, irregular payments, and the transfer of ₦84.78 million to a “Special Project” account without clear justification. Additionally, over ₦1.68 billion in debts reportedly remain unrecovered.
At the NNRA, auditors flagged several questionable expenditures, including payments for training programmes and ICT equipment without evidence of delivery or participation. Millions of naira were also reportedly spent on items such as office supplies and operational activities that were never supplied or properly documented.
Further concerns include unretired cash advances, unverified foreign training expenses, and unrecorded penalty fees, raising questions about transparency and accountability within the agency.
SERAP stressed that these allegations represent a serious breach of public trust and Nigeria’s anti-corruption laws, warning that failure to act could undermine national development and public confidence in governance.
“We would be grateful if the recommended measures are taken within seven days, failing which we will pursue legal action,” the organisation stated.
The group also demanded full recovery of any missing funds and their remittance to the national treasury.
SUNTV Global Channel reports that the development adds to growing scrutiny of public institutions, as calls intensify for stricter financial oversight and accountability in Nigeria’s public sector.
