The Pan-African Society for Social & Economic Change (PASSEC) has raised concerns over alleged irregularities involving 18 companies and several project allocations contained in Nigeria’s 2023 to 2026 national budgets, which it claimed were linked to Senator Solomon Adeola, popularly known as Yayi.
The organisation made the allegations at a world press conference in Abuja on Tuesday, where it presented findings from what it described as a forensic review of budget project insertions.
PASSEC said the findings, which it had submitted to the Independent Corrupt Practices and Other Related Offences Commission (ICPC), included projects it claimed were traceable to Adeola, the Chairman of the Senate Committee on Appropriations.
According to the organisation, budget lines it allegedly traced to Adeola amounted to N30 billion in 2023, N50 billion in 2024, N70 billion in 2025 and more than N100 billion in 2026.
It estimated the cumulative value of the projects under review at between N1.2 trillion and N1.5 trillion.
PASSEC also questioned the inclusion of projects in agencies whose statutory mandates, it said, appeared unrelated to the projects.
For instance, the organisation alleged that the Federal College of Freshwater Fishery Technology, New Bussa, hosted N6.7 billion in projects for Ogun State in 2023, including the provision of tricycles and minibuses.
It further alleged that the Federal Cooperative College, Ibadan, hosted more than N7.7 billion in projects during the same year, including several ultra-modern town halls.
The group said some of the projects were awarded to companies including Volatix Products Limited, Bapam House Service Limited and Cinedox Solution Limited.
PASSEC also identified what it described as a network of 18 suspected surrogate companies, alleging that the firms shared three physical addresses across Abuja and Ogun State.
According to the organisation, the companies were linked to Augustine John Abah, whose whereabouts it said it was unable to establish.
The group further flagged what it described as vague and duplicated project descriptions, as well as budget lines marked “ongoing” without evidence of commencement.
It cited a N220 million project described as “Provision of Infrastructure in Ogun State” and questioned a N1 billion allocation for the “Promotion and Development of Horticulture (Vegetables) Value Chain” under the Federal Cooperative College, Ibadan.
PASSEC also alleged that contracts connected to the projects were awarded without competitive tendering, calling for an investigation into possible breaches of procurement requirements.
The organisation urged the ICPC and other relevant agencies to conduct a forensic audit of the identified budget lines, verify the physical execution of the projects and investigate the incorporation, ownership and operations of the 18 companies.
It also called for payments made to the companies to be examined under relevant money-laundering legislation.
PASSEC stressed that the issues raised were allegations requiring impartial investigation and that it was not declaring any individual guilty of wrongdoing.
It called for greater transparency and accountability in the management of public funds, stressing that every naira appropriated through the national budget should be traceable and expended lawfully.
