Nigeria’s Senate has initiated a high-profile investigation into telecommunications giant MTN Nigeria, Minister Okechukwu Enelamah (former Minister of Trade and Investment), and other entities over allegations of illegally repatriating $13.9 billion and violating foreign exchange (forex) regulations. The probe, led by the Senate Committee on Banking, Insurance, and other Financial Institutions, follows concerns about potential breaches of Nigeria’s financial laws during transactions spanning from 2006 to 2016. The Senate has enlisted forensic experts to scrutinize financial records and transactions linked to MTN, Minister Okechukwu Enelamah, and other involved parties. The focus is on alleged illicit movement of funds out of Nigeria and possible circumvention of Central Bank of Nigeria (CBN) forex policies.
2016-10-20
3101 days
On-going
2
The Nigerian Senate Committee on Finance, chaired by Senator Solomon Adeola, launched an investigation into over N3 trillion in unremitted government revenue by Ministries, Departments, and Agencies (MDAs) between 2014 and 2020. The funds, legally required to be deposited into the Consolidated Revenue Fund (CRF), were either retained by MDAs or spent on unauthorized expenditures, violating the 1999 Constitution and the Fiscal Responsibility Act (FRA) 2007 1211.
The probe revealed that approximately 60 Government-Owned Enterprises (GOEs) withheld or misused these funds, with agencies relying on ministerial circulars instead of legal frameworks to bypass remittance obligations.
2021-05-10
1438 days
On-going
3
The Nigerian House of Representatives has launched dual investigations into the constitutional validity of federal agencies and the controversial $195.3 million Deep Blue Contract (approximately ₦59.8 billion) awarded to HLS International Limited (HLSI), a foreign private company, by the Federal Ministry of Transportation in 2017. The first probe, initiated by Deputy Minority Leader Hon. Toby Okechukwu, seeks to evaluate whether federal agencies like those overseeing housing and primary healthcare are operating within constitutional mandates outlined in Nigeria’s Exclusive, Concurrent, and Residual Legislative Lists. Okechukwu emphasized the need to address ill-assigned responsibilities and ensure governance efficiency, prompting the House to establish an ad hoc committee to engage stakeholders.
The second investigation, spearheaded by Hon. Benjamin Kalu, focuses on the legality of the Deep Blue Contract, which included an additional $19.53 million Management Training Consideration payment to HLSI by the Nigerian Maritime Administration and Safety Agency (NIMASA) over 36 months. Lawmakers flagged the deal for bypassing legislative approval, violating Section 80(3) and (4) of the Constitution, which mandates National Assembly authorization for public expenditures.
2021-05-10
1438 days
On-going
4
The Nigerian Senate, through its Public Accounts Committee (SPAC) chaired by Senator Matthew Urhoghide, launched an investigation into the Budget Office of the Federation and its Director-General, Ben Akabueze, over the alleged illegal payment of N19 billion to four unnamed Ministries, Departments, and Agencies (MDAs) in 2015 without the approval of the Minister of Finance. The probe, initiated in October 2021, was triggered by the 2016 Auditor General of the Federation (AuGF) report, which revealed that the funds were disbursed from the Service Wide Vote based on purported verbal directives from Akabueze, violating Financial Regulations 301 and 302 requiring written authorization from the Finance Minister for such expenditures.
2021-10-12
1283 days
On-going
5
The Nigerian Senate, through its Public Accounts Committee (SPAC) chaired by Senator Matthew Urhoghide, is investigating the Nigeria Social Insurance Trust Fund (NSITF) for allegedly diverting N61.1 billion in public funds, as flagged in the 2018 Auditor-General of the Federation (AuGF) report. The probe centers on three major irregularities: N5.5 billion diverted in 2014 to an unauthorized Zenith Bank account (No. 1013938003) instead of the designated Skye Bank account (No. 1790122304), with an initial deposit of N2.75 billion made without approval from the Accountant-General of the Federation; N38.2 billion paid as unapproved personnel costs between 2012 and 2017, violating National Salaries, Income and Wages Commission guidelines; and N17.1 billion transferred to individuals and companies from NSITF’s Skye Bank (No. 1750011691) and First Bank (No. 2001754610) accounts without supporting documentation
2021-06-15
1402 days
On-going
6
The Economic and financial Crimes Commission (EFCC) probes Assets Management Company of Nigeria's (AMCON) sale of N144 billion properties seized from suspected oil thieves.
2022-02-03
1169 days
On-going
7
The Nigerian House of Representatives launched a probe into the controversial N255 million purchase of two BMW armoured cars by the Nigerian Civil Aviation Authority (NCAA) for then-Aviation Minister Stella Oduah, which violated procurement laws and bypassed legislative approval. The investigation, initiated in October 2013 following a motion by Hon. Samson Osagie (Minority Whip), revealed that the NCAA procured the vehicles without budgetary allocation, as the House Committee on Aviation had explicitly rejected the proposal in the 2013 Appropriation Act. The committee, chaired by Rep. Nkiruka Onyejeocha, found that Oduah approved the purchase of 54 vehicles totaling N643 million, exceeding her ministerial approval limit of N100 million and violating the Public Procurement Act (2007). Despite Oduah’s repeated failure to appear before the committee ignoring 12 invitations the probe uncovered that the NCAA secured a loan from First Bank and engaged Coscharis Motors, which allegedly inflated the cars’ cost to N255 million (over triple the international market price) and falsely claimed import duty waivers.
2013-10-22
4195 days
On-going
8
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) probes N1.68 billion assets linked to Lagos State Commissioner.
2020-04-12
1831 days
On-going
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Nigeria’s House of Representatives has launched a high-stakes probe into allegations that the Nigerian National Petroleum Corporation (NNPC) and its Joint Ventures (JVs) paid over $100 million in insurance premiums for non-existent or moribund assets overseas. The investigation, spearheaded by the House Committee on Insurance & Actuarial Matters, also scrutinizes insurance practices across Ministries, Departments, and Agencies (MDAs) to address systemic failures impacting the economy and public trust.
2020-08-17
1704 days
On-going
10
Guaranty Trust Bank Plc. (GTBank) and its managing director, Mr. Segun Agbaje, are being investigated by the Police Special Fraud Unit (PSFU), over alleged $667,000 fraudulent transactions.