SERAP Calls for Probe into Alleged N2.9bn Fund Mismanagement

The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to initiate an investigation into the alleged disappearance of N2.9 billion in public funds linked to the Nigerian Communications Satellite Ltd (NigComSat). In a letter dated April 11, 2026, signed by Deputy Director Kolawole Oluwadare, SERAP requested that the President direct the Minister of Communications and Digital Economy, Bosun Tijani, to manage the agency's accounts concerning the missing funds.

The appeal follows a report by the Auditor General published on September 9, 2025, which highlighted significant breaches of public trust and violations of Nigeria's anti-corruption laws. The report indicated multiple financial irregularities, including unauthorized investments of N465 million in Gicel Wireless Ltd, undocumented staff reimbursements, and unremitted taxes.

SERAP emphasized the need for transparency and accountability, warning that failure to act within seven days could lead to legal action against those responsible for the mismanagement of funds.