The SERAP probe ₦2.9bn funds demand has intensified after the Socio-Economic Rights and Accountability Project urged President Bola Tinubu to investigate the alleged disappearance or mismanagement of ₦2.9 billion linked to the Nigerian Communications Satellite Limited (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA).
The call is based on findings attributed to the Auditor-General’s report covering financial activities of the agencies.
The Socio-Economic Rights and Accountability Project (SERAP) has consistently called for accountability in public financial management across federal agencies. The latest demand follows concerns raised in the Auditor-General’s annual report, which reportedly flagged irregularities in the financial records of NIGCOMSAT and NNRA.
Nigeria’s public finance system allows the Auditor-General to review government accounts and flag discrepancies for investigation by relevant authorities. These reports often form the basis for anti-corruption probes and administrative actions within ministries and agencies.
In its letter dated April 11, 2026, SERAP urged President Tinubu to direct relevant ministries and anti-corruption agencies to investigate the SERAP probe ₦2.9bn funds case, including explanations from management of both agencies.
SERAP also asked that suspected individuals be prosecuted where evidence of wrongdoing is established, and that any missing funds be recovered and returned to the treasury.
The organisation referenced alleged financial discrepancies contained in the Auditor-General’s report, which it said documented issues including unauthorized investments, irregular payments, and unverified expenditures within the agencies.
SERAP further urged the government to compel NIGCOMSAT to disclose shareholders and beneficial owners of a company involved in a reported investment transaction, stating that transparency is necessary for accountability.
It also raised concerns about NNRA expenditures, including payments for training, ICT equipment, and store items where supporting documentation or evidence of delivery was reportedly absent.
SERAP warned that failure to act within seven days of receiving its letter could lead to legal action aimed at compelling compliance with its requests.
The SERAP probe ₦2.9bn funds demand places renewed attention on financial oversight in strategic government agencies involved in communications infrastructure and nuclear regulation.
If investigated, the outcome could strengthen accountability systems within Nigeria’s public finance management framework. It may also influence how agencies implement procurement procedures, documentation practices, and financial reporting standards.
For citizens, the case reflects broader concerns about transparency and efficient use of public funds, especially in sectors tied to national development and safety.
