Fresh controversy has engulfed the National Agency for Science and Engineering Infrastructure (NASENI) following allegations that more than ₦900 billion in statutory funds meant for the agency was allegedly borrowed by the Federal Government between 2023 and 2026 and deployed for purposes outside its legal mandate.
The allegations have sparked renewed calls for a comprehensive independent forensic audit of the agency, with civil society groups insisting that the public deserves full disclosure of NASENI’s financial records, including its Federation Account Allocation Committee (FAAC) allocations, borrowing arrangements, expenditure schedules, procurement records and audited financial statements covering the period under review.
The latest development comes amid growing public scrutiny of the agency’s spending after reports emerged that NASENI reportedly expended ₦43 million on the purchase of kitchen utensils for its headquarters, a revelation that further intensified concerns over public sector spending priorities.
Leading the campaign is the Empowerment for Unemployed Youth Initiative (EUYI), whose National Coordinator, Comrade Danesi Momoh, accused the Federal Government of withholding funds legally due to NASENI.
According to the group, statutory deductions from FAAC and company taxes accruing to NASENI between 2023 and 2026—estimated at over ₦900 billion—were allegedly borrowed by the Federal Government and utilised for purposes unrelated to the agency’s statutory responsibilities.
Momoh argued that NASENI was created to drive indigenous technology, engineering innovation, local manufacturing, research commercialisation and industrial development, making it one of Nigeria’s most strategic institutions for economic diversification and youth employment.
He expressed concern that findings available to the organisation suggested the agency had allegedly not received its FAAC allocations since 2023 because the funds had been borrowed by the Federal Government.
Describing the allegations as too serious to ignore, the group demanded the immediate appointment of an internationally recognised independent audit firm, such as PricewaterhouseCoopers (PwC), or another reputable global firm, to carry out a full forensic audit of NASENI’s finances covering all FAAC-derived revenues and other statutory deductions from 2023 to date.
EUYI also called on the Federal Government to publicly disclose the legal basis for the alleged borrowing, transfer or utilisation of funds belonging to NASENI and provide a detailed account of how the money was spent.
In addition, the organisation urged the Deputy Executive Vice Chairman of NASENI to temporarily step aside to allow what it described as a transparent, independent and credible investigation into the allegations without interference.
The group maintained that institutions established to combat unemployment, promote innovation and accelerate Nigeria’s technological advancement must be governed by the highest standards of transparency, accountability and fiscal responsibility.
As of the time of filing this report, neither NASENI nor the Federal Government had issued an official response to the allegations. The claims also remain unverified.