SERAP Calls for Probe into ₦2.9 Billion Missing Funds

The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Ahmed Tinubu to investigate the alleged disappearance of ₦2.9 billion from the Nigerian Communications Satellite (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA). In a letter dated April 11, 2026, signed by Deputy Director Kolawole Oluwadare, SERAP urged the president to ensure accountability within these agencies, which play crucial roles in Nigeria's digital economy and safety systems.

The request follows a report from the Auditor General of the Federation published on September 9, 2025, which raised concerns about financial mismanagement and lack of transparency. SERAP specifically cited an unauthorized investment of ₦465 million made by NIGCOMSAT in GICEL Wireless Ltd without the necessary approvals.

Additionally, the report indicated that NIGCOMSAT paid ₦4.35 million for a training program without evidence that the training occurred and ₦16 million for ICT equipment without proper approval. SERAP warned that failure to address these allegations could weaken Nigeria's anti-corruption framework and erode public trust.