ADVERTISEMENT
Sunday, June 14, 2026
Tech | Business | Economy
No Result
View All Result
  • Technology
    • Trends
    • Telecoms
      • Broadband
    • ConsumerTech
      • Gadgets and Appliances
      • Apps
      • Accessories
      • Reviews
      • Unboxing
    • EnterpriseTECH
    • Security & Data Protection
    • How To
  • Business
    • Company News
    • StartUPs
      • Founder’s Story
      • Funding
    • Deals
    • People & Moves
    • SME & Entrepreneur Focus
    • BUSINESS SENSE FOR SMEs
    • Competition & Market Positioning
    • Commerce & Mobility
    • Travel
    • WomenPreneurs
  • Economy
    • Macroeconomic Trends
      • Macro Monday
      • TE Insights
    • Finance
      • Banks
      • Fintech
      • Insurance
      • Digital Assets
      • Personal Finance
    • Policies
      • Tech & Society
    • Market Analysis
    • Jobs & Workforce Economy
  • Features
    • Guest Writer
      • Chidiverse
      • Digital Assets
      • GameTech
    • EventDIARY
    • IndustryINFLUENCERS
    • MarkTECH
    • TBS
    • NewsEXTRA
  • Editorial
  • Brand Content
  • TECHECONOMY TV
Sunday, June 14, 2026
Tech | Business | Economy
No Result
View All Result
Tech | Business | Economy
No Result
View All Result

USPF: Presidency Silent Six Months after Audit Indicates ₦26.9bn Missing

...the alleged infractions include failure by the USPF to remit over ₦13.8 billion in operating surplus between 2016 and 2019, questionable payments for international trainings during the COVID-19 lockdow

Staff Writer by Staff Writer
May 11, 2026
in Telecoms
Reading Time: 2 mins read
0
USPF - President Bola Tinubu

Bola Ahmed Tinubu, President and Commanda and Commander In Chief of the Armed Forces, Federal Republic of Nigeria.

The silence from the Presidency is now drawing renewed scrutiny after the Socio-Economic Rights and Accountability Project formally called on President Tinubu to order an immediate probe into the alleged diversion and mismanagement of funds meant to deepen digital access across underserved communities in Nigeria.

The USPF, originally domiciled under the Nigerian Communications Commission (NCC), was established to finance telecom infrastructure and bridge the digital divide in rural and unserved areas.

The Federal Government inaugurated the new board on March 27, 2026. In a letter dated May 9, 2026, SERAP urged the President to direct Bosun Tijani, the minister of Communications, Innovation and Digital Economy, alongside Yomi Arowosafe, USPF secretary to explain the whereabouts of the funds and submit to investigation by anti-corruption agencies.

But beyond SERAP’s petition lies a troubling timeline: the Auditor-General’s report had already been in the public domain for months before the latest public outcry, yet there has been no known presidential directive, public response, or announced investigation into the allegations.

According to details highlighted by SERAP from the Auditor-General’s report, the alleged infractions include failure by the USPF to remit over ₦13.8 billion in operating surplus between 2016 and 2019, questionable payments for international trainings during the COVID-19 lockdown, contracts worth over ₦2.8 billion allegedly awarded without approvals, and irregular consultancy and connectivity project payments.

The report also alleged that the USPF maintained an undisclosed domiciliary account and failed to grant the Auditor-General access to some financial records.

For stakeholders in Nigeria’s digital economy, the allegations cut deeper than financial misconduct.

Analysts warn that any diversion of USPF resources directly threatens national efforts toward broadband expansion, digital inclusion, rural connectivity, e-learning, telemedicine, and access to online economic opportunities.

SERAP argued that the consequences are especially severe for underserved communities that depend on public interventions for internet access and communications infrastructure.

The organisation said failure to act could worsen inequality and further exclude millions of Nigerians from participation in the digital economy.

The development comes at a time when the Federal Government continues to promote ambitious digital transformation policies and broadband penetration targets under the Ministry of Communications, Innovation and Digital Economy.

Observers say the prolonged silence surrounding the allegations risks undermining public confidence in government-led digital inclusion programmes, especially as telecom consumers continue to grapple with poor connectivity and infrastructure gaps in many rural areas.

SERAP has now given the Federal Government seven days to act or face possible legal action aimed at compelling investigation and recovery of the funds.

Previous Post

Shein and Temu Clash in London Court Over Copyright, Competition Issues

Next Post

Journalists, Academics Tackle Press Freedom Challenges at UK-PAU Training

Staff Writer

Staff Writer

Related Posts

Airtel Web Data Calculator

Airtel Nigeria Unveils Data Usage Calculator

June 10, 2026
NCC data on telecom contibution to GDP Q4 2025 by Techeconomy | NCC and MNOs subscribers compensation | Security Trust Fund

CNI: NCC Hints on Establishing Telecom Infrastructure Security Trust Fund

June 10, 2026

NCC: Telcos Complete 41.7% of Planned 12,000 New Network Sites

June 9, 2026
Load More
Next Post
Jonny, British HIgh Commissioner Lagos | UK-PAU

Journalists, Academics Tackle Press Freedom Challenges at UK-PAU Training

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TECHECONOMY YOUTUBE CHANNEL

Categories

  • Accessories
  • Apps
  • Banks
  • Brand Content
  • Broadband
  • Business
  • BUSINESS SENSE FOR SMEs
  • Chidiverse
  • Commerce & Mobility
  • Company News
  • Competition & Market Positioning
  • ConsumerTech
  • Deals
  • Digital Assets
  • Digital Lens
  • Economy
  • Editorial
  • EnterpriseTECH
  • Environment
  • EventDIARY
  • Features
  • Finance
  • Fintech
  • Founder’s Story
  • Funding
  • Funding
  • Gadgets and Appliances
  • GameTech
  • Gaming
  • General
  • Guest Writer
  • How To
  • IndustryINFLUENCERS
  • Insurance
  • Jobs & Workforce Economy
  • Laptop
  • Latest
  • Lifestyle
  • Macro Monday
  • Macroeconomic Trends
  • Market Analysis
  • MarkTECH
  • Media
  • National
  • NewsEXTRA
  • Partners
  • People & Moves
  • Personal Finance
  • Phones
  • Podcast
  • Policies
  • Politics
  • Reviews
  • Security & Data Protection
  • SME & Entrepreneur Focus
  • StartUPs
  • TBS
  • TE Insights
  • Tech & Society
  • Technology
  • TechTAINMENT
  • Telecoms
  • TOP STORIES
  • Travel
  • Trends
  • Unboxing
  • WomenPreneurs
  • WordPress

Gallery

We love WordPress and we are here to provide you with professional looking WordPress themes so that you can take your website one step ahead. We focus on simplicity, elegant design and clean code.

Contains all features of free version and many new additional features.

ColorMag Pro

Contains all the features of the free version and many new additional features.

  • About Us
  • Careers
  • Contact Us
  • Privacy Policy

© 2026 TECHECONOMY.

No Result
View All Result
  • Technology
  • Business
  • Economy
  • Features
  • Editorial
  • Brand Content
  • TECHECONOMY TV

© 2026 TECHECONOMY.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.