EXCLUSIVE: ENERGY COMMISSION DG MUSTAPHA ABDULLAHI PAID ₦4.2BN TO NEWLY REGISTERED, INACTIVE AND UNTRACEABLE COMPANIES

TrackNews Online | Investigative Report

The Director-General of the Energy Commission of Nigeria, Dr Mustapha Abdullahi, is facing serious questions over billions of naira in public funds paid to companies with questionable corporate records, including newly registered firms, an inactive company and an entity whose registration could not be located on the Corporate Affairs Commission (CAC) register.

An examination of official payment records by TrackNews Online shows that the commission paid approximately ₦4.2 billion to seven companies for various alternative power, solar mini-grid and streetlight projects across different states.

The payments raise concerns about procurement compliance, contractors’ capacity, corporate verification and the management of public funds under Abdullahi’s leadership.

Abdullahi assumed office as Director-General on October 24, 2023. Records examined by TrackNews indicate that four of the five companies that received ₦3.35 billion in May 2026 were incorporated within six weeks of his appointment, while another was registered in December 2024.

Remarkably, the payments to these five companies were processed on May 9 and 10, 2026, with each described as a 30 per cent mobilisation fee.

BILLIONS PAID TO COMPANIES INCORPORATED AFTER DG’S APPOINTMENT

Stonebridge Engineering Services Limited, registered on November 29, 2023, with RC-7242800, received ₦993.27 million in four payments on May 9 and 10, 2026.

The payments were described as mobilisation fees for the supply and installation of alternative power and sustainable energy systems in Niger State, Abeokuta South West, Ogun West Senatorial District and Imeko Township.

Two of the payments were identical, amounting to ₦248,350,027.74 each, despite being assigned to different project locations.

Fourstars Multi-Services Limited, incorporated on November 28, 2023, with RC-7240970, received ₦496.65 million in two identical payments on May 10, 2026.

Both payments were recorded as 30 per cent mobilisation fees for energy projects in Sango Ota and Agosasa, South West Nigeria.

TWO COMPANIES, SAME DIRECTORS, SAME ADDRESS

Further examination of corporate records revealed that Mubash Innovations Limited and H and H Solutions Logistics Limited were both incorporated on December 5, 2023.

The two companies share the same registered address at Birgi Plaza, Wuye, Abuja, and have the same two shareholders: Adesegun Fatai Abayomi, with 70 per cent ownership, and Adesegun Modinat Morenike, with 30 per cent.

Together, the companies received approximately ₦1.37 billion from the commission.

Mubash Innovations Limited received ₦620.71 million in three payments for alternative power supply in Kebbi State and solar mini-grid projects in Abeokuta and Idogo.

H and H Solutions Logistics Limited received ₦744.71 million in three payments on May 10, 2026. Two of those payments were identical, amounting to ₦248,324,847.39 each.

Pinnakle Innovations Nigeria Limited, incorporated on December 12, 2024, with RC-8134764, also received ₦496.49 million in two payments on May 10, 2026.

The payments were described as mobilisation fees for illumination systems in Cross River and Delta States and alternative power units for selected communities in Anambra State.

₦804 MILLION PAID TO COMPANY NOT LOCATED ON CAC REGISTER

Another payment raises additional questions.

On October 21, 2024, the Energy Commission paid ₦804.39 million to K&H Consultancy Limited for the construction and installation of 3-in-1 solar streetlights in selected communities in Jigawa State.

However, TrackNews’ searches of the Corporate Affairs Commission register using different variations of the company’s name did not produce a matching registration record.

While the absence of a search result does not conclusively establish that the company is unregistered, the inability to locate its corporate record raises questions about the verification process conducted before the payment was approved.

INACTIVE COMPANY RECEIVES ₦49.67 MILLION

Embassy Tours Limited, registered on April 5, 2010, with RC-879273, also received ₦49.67 million on May 10, 2026.

The company collected the money in two identical payments of ₦24,836,879.34 each, recorded as mobilisation fees for solar streetlight projects in Idemili North and South Federal Constituency in Anambra State.

However, its status on the Corporate Affairs Commission register is listed as inactive.

The payment raises questions about whether the commission verified the company’s operational and legal status before awarding the projects and releasing public funds.

PROCUREMENT AND ACCOUNTABILITY QUESTIONS

The Public Procurement Act 2007 establishes requirements for competitive procurement, contractor qualification and due diligence before public contracts are awarded.

The Fiscal Responsibility Act 2007 also provides a framework for prudent management and accountability in the use of public resources.

Meanwhile, the Corrupt Practices and Other Related Offences Act 2000 and the Money Laundering (Prevention and Prohibition) Act 2022 provide legal frameworks for addressing corruption and financial misconduct.

The circumstances surrounding these payments warrant scrutiny by relevant oversight and anti-corruption institutions.

The central questions are whether the companies demonstrated the technical and financial capacity to execute the projects, whether due procurement procedures were followed, why multiple payments were made in identical amounts, and whether the commission adequately verified the corporate status of the beneficiaries.

TrackNews Online had earlier reported on payments involving the Energy Commission’s Director-General in an investigation titled: How Energy Commission of Nigeria DG Mustapha Abdullahi Moved ₦103.5 Million to His Own Name, as well as its earlier streetlight awards in Azaman.

The latest payment records add another layer to questions surrounding the commission’s financial transactions.

ABDULLAHI MUST ANSWER

Every payment raises legitimate questions about the commission’s procurement decisions and the safeguards put in place to protect public funds.

Dr Mustapha Abdullahi, as Director-General, must explain the circumstances surrounding the selection of these contractors, the verification of their corporate status, their capacity to execute the projects and the justification for the mobilisation payments.

The findings presented in this investigation are based on payment and corporate records reviewed by TrackNews Online. They raise serious red flags but do not, on their own, establish criminal wrongdoing.

TrackNews Online makes no declaration of guilt against any individual or company. The affected parties retain the right to respond, and their explanations will be published where provided.

TRACKNEWS ONLINE
Investigative Journalism. Public Accountability.