SERAP probe call over ₦2.9bn missing funds in NIGCOMSAT and NNRA has intensified calls for accountability after the Socio-Economic Rights and Accountability Project urged President Bola Tinubu to investigate alleged financial discrepancies reported in federal agencies.
The call follows findings attributed to the Auditor-General’s annual report, which flagged alleged financial irregularities across key government institutions, including the Nigerian Communications Satellite Limited (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA).
The Socio-Economic Rights and Accountability Project (SERAP), a civic accountability organisation, has consistently pushed for investigations into reported public fund mismanagement across ministries and agencies. The latest request adds to a growing list of similar demands directed at federal authorities over transparency and public finance management.
According to available records, the allegations involve multiple financial transactions flagged for review, raising concerns about compliance with procurement processes, revenue remittances, and expenditure accountability.
In a formal letter, SERAP urged President Bola Tinubu to direct relevant anti-corruption agencies and the Attorney-General of the Federation to investigate the alleged disappearance or mismanagement of approximately ₦2.9 billion linked to NIGCOMSAT and NNRA operations.
The organisation also called for prosecution of individuals found culpable and recovery of any missing funds, in line with public finance laws and constitutional provisions.
SERAP further requested that NIGCOMSAT disclose details of financial transactions, including investments reportedly made without proper approvals, while NNRA was asked to account for payments linked to training programmes, equipment procurement, and administrative expenditures.
The group stated that accountability in both agencies is essential due to their strategic roles in Nigeria’s communications infrastructure and nuclear regulatory safety framework.
SERAP also referenced concerns about compliance with financial procedures, including procurement guidelines, approval processes, and documentation of expenditures.
In its communication, the organisation warned that failure to act on the request within a specified timeframe could lead to legal action aimed at compelling compliance.
The SERAP probe call over ₦2.9bn missing funds in NIGCOMSAT and NNRA highlights ongoing concerns about transparency and accountability in public financial management.
If substantiated, the allegations could reinforce calls for stronger oversight mechanisms within government agencies, particularly those handling sensitive infrastructure and regulatory functions.
The development also places additional scrutiny on anti-corruption enforcement and the effectiveness of internal audit systems in federal institutions. For governance, the case underscores the importance of transparent procurement systems, accurate financial reporting, and timely audit compliance to maintain public trust.
