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Disquiet over whereabouts of ₦2.9 billion in key federal agencies
President Bola Tinubu has been urged to direct the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, as well as the management of the Nigerian Communications Satellite Ltd (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA), to account for and explain the whereabouts of an alleged ₦2.9 billion in missing or diverted public funds.
The Socio-Economic Rights and Accountability Project (SERAP) who made the call also called on the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), and relevant anti-corruption agencies to investigate the alleged diversion of funds, including those documented in previous Auditor-General reports.
In a letter dated April 11, 2026, and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “These allegations, involving critical public institutions, represent a grave violation of the public trust and a fundamental breach of Nigeria’s anti-corruption laws and international obligations.”
The group further urged the Federal Government to direct NIGCOMSAT to disclose the shareholders and beneficial owners of a company that allegedly received ₦465 million in “unauthorised investment” from the agency.
SERAP said, “Anyone suspected to be responsible should face prosecution as appropriate, if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and remitted to the treasury.”
The organisation gave the government seven days to comply, warning that it may initiate legal action if its demands are not met.
It also stated that accountability in both agencies is critical, given their strategic roles, saying: “Accountability in NIGCOMSAT and NNRA is critical given their strategic roles in Nigeria’s digital economy and national safety systems. Mismanagement in these agencies not only wastes scarce public resources but also threatens national development, technological progress, and public safety.”
SERAP added: “Ensuring accountability is therefore essential to protecting both Nigeria’s present and its future.”
It warned that failure to address the allegations would continue to erode public trust, stating: “These allegations, if left unaddressed, will continue to undermine public confidence in government institutions, weaken Nigeria’s anti-corruption framework, and deprive citizens of resources needed for development.”
The allegations were drawn from the Auditor-General’s report published on September 9, 2025, which examined financial activities in NIGCOMSAT and NNRA and raised concerns over possible mismanagement of public funds.
According to the report, NIGCOMSAT failed to account for over ₦465 million used for an “unauthorised investment” in Gicell Wireless Ltd, made without approvals from the Minister of Science and Technology and the Accountant-General of the Federation. It also noted that “there was also no evidence that a competent Investment Analyst performed investment appraisal,” while the investment agreement raised concerns over valuation and exchange rate assumptions.
The Auditor-General further stated that “NIGCOMSAT made ineligible, irregular and wrong payments of over ₦3 million to staff,” and that “the payment was made without due process and any documents on what the payments were meant for.”
It also flagged an irregular rent payment of over ₦4.3 million, noting that although a refund was requested, “there was no evidence that the consultant refunded the money.”
It added that NIGCOMSAT “failed to remit over ₦507 million of its internally generated revenue to the Consolidated Revenue Fund,” while also failing to account for over ₦6 million for undelivered store items.
The report further stated that “there was also no evidence of how the transferred funds were spent or utilised,” referring to an irregular ₦84.78 million transfer from a Remita account to a special project account.
On NNRA, the report alleged that ₦4.35 million was spent on training without evidence that it took place, while ₦16.7 million was paid for ICT equipment without approval.
It also stated that ₦33.4 million was spent on items that were never supplied, and that “there were no documents to support” several payments for operational activities.
The Auditor-General further noted that NNRA “failed to retire over ₦6.5 million of cash advances granted to staff,” and that ₦2.05 million paid for foreign training had no evidence of participation.
It also stated that ₦1.95 million collected through Remita was not recorded in the agency’s cashbook, leading to concerns of revenue understatement.
SERAP said the findings point to “a systemic pattern of financial mismanagement, opacity, and corruption within an agency entrusted with advancing Nigeria’s digital and communications infrastructure,” adding that NNRA’s lapses also raise serious concerns about compliance with safety and financial regulations
News
SAN reacts to deregistration of ADC, others
A Senior Advocate of Nigeria and policy analyst, Dr. M. O. Ubani, has questioned the legal basis of a recent Federal High Court judgment directing the Independent National Electoral Commission (INEC) to deregister five political parties, arguing that the decision may have extended beyond the position previously established by the Supreme Court.
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Six-yr-single term: SAN speaks on right framework
The opinion piece by legal practitioner and policy analyst, Dr. Monday.O. Ubani (SAN), has reignited discussions over the proposal for a single six-year tenure for Nigeria’s President and state governors, questioning whether the constitutional amendment would address the country’s governance challenges or merely divert attention from more pressing issues.
In a statement titled “Six-Year Single Tenure for the President and Governors: A Solution or a Distraction?”, Ubani examined the renewed advocacy for a non-renewable six-year term for chief executives at both federal and state levels.
The proposal, recently championed by Senator Opeyemi Bamidele and other supporters, is premised on the argument that elected leaders who are not preoccupied with re-election campaigns would devote greater attention to governance and long-term policy implementation.
According to Ubani, the argument possesses a degree of merit, noting that under Nigeria’s current constitutional framework, presidents and governors serve four-year terms with the possibility of one re-election. He observed that political calculations surrounding second-term bids often begin long before the expiration of a first tenure, potentially influencing policy decisions and governance priorities.
“A single tenure could potentially eliminate this concern and encourage long-term policy implementation,” he noted.
However, the Senior Advocate of Nigeria cautioned that the debate should extend beyond considerations of administrative efficiency. He argued that democracy is fundamentally anchored on accountability and good governance, with the prospect of re-election serving as a critical mechanism through which citizens assess the performance of elected officials.
Ubani warned that removing the incentive of electoral appraisal could weaken democratic responsiveness and accountability.
Drawing from comparative constitutional experiences across different regions of the world, he maintained that there is no direct relationship between the length of tenure and the quality of governance. He pointed out that several countries in the Americas and Northern Europe, despite operating relatively short executive tenures, have produced transformative leaders. Conversely, some African nations that allowed extended periods in office have grappled with poor governance, institutional decline and democratic setbacks.
He further argued that Nigeria’s own political experience demonstrates that leadership quality and institutional effectiveness have a greater impact on governance outcomes than tenure duration.
According to him, strong institutions, adherence to constitutional limits, transparency and respect for the rule of law remain the key determinants of successful governance.
From a constitutional standpoint, Ubani stated that the national conversation should not be limited to choosing between a six-year or an eight-year arrangement. Rather, he said, the focus should be on identifying a framework that best promotes accountability, political stability, effective governance and democratic development.
He acknowledged that introducing a six-year single tenure through constitutional amendment is legally feasible, provided the procedures stipulated in the Nigerian Constitution are strictly followed.
Nonetheless, Ubani questioned whether such a reform would address the underlying challenges confronting governance in the country.
“It is possible that tenure reform may alter political incentives, but it cannot substitute for competent leadership, institutional integrity and citizen participation,” he argued.
The legal practitioner stressed that effective leadership is not necessarily dependent on the length of time spent in office, noting that capable leaders can deliver meaningful results within limited tenures, while ineffective leaders may inflict greater damage even with extended periods in power.
He concluded that Nigeria’s central challenge lies not in determining how long presidents and governors should remain in office, but in ensuring that those entrusted with public office govern responsibly, effectively and in accordance with constitutional principles.
“The true measure of democratic success,” Ubani said, “is the ability to ensure that whoever occupies public office delivers the dividends of democracy while remaining accountable to the people and the Constitution.”
News
Monarch’s wife shot as hoodlums abduct husband
Ondo State Police Command has launched an intensive rescue operation following the suspected abduction of a community leader in Ode Oriya Village, Owo Local Government Area of the state.
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