An investigative review of the official expenditure records of the Energy Commission of Nigeria has unveiled a series of questionable financial transactions occurring under the leadership of the Director-General, Dr. Mustapha Abdullahi. Since assuming office on October 24, 2023, the commission has disbursed approximately N3.35 billion to five separate entities that were not in existence at the time of his appointment. Strikingly, four of these companies were incorporated within a six-week window following his arrival, while the fifth was established in December 2024. All payments to these firms were processed on May 9 and 10, 2026, and were universally categorized as 30 percent mobilization fees—an upfront payment intended to initiate project execution.
The financial data highlights a pattern of suspicious similarities in payment structures. For instance, Stonebridge Engineering Services Limited, registered just five weeks into Dr. Abdullahi’s tenure, received N993.27 million across four transactions on May 9 and 10, 2026. Two of these payments were identical, down to the last kobo, totaling N248,350,027.74 each. Similarly, Fourstars Multi-Services Limited, incorporated only a day before Stonebridge, received N496.65 million on May 10, 2026, split into two identical payments for energy projects in the South West.
The investigation also identified two companies, Mubash Innovations Limited and H and H Solutions Logistics Limited, both incorporated on December 5, 2023. Sharing a common office address in Wuye, Abuja, and identical ownership by Adesegun Fatai Abayomi and Adesegun Modinat Morenike, these firms received a combined total of N1.37 billion. Payments to these entities mirrored the irregularities found elsewhere, with H and H Solutions receiving multiple payments, including two matching the exact amount previously issued to Fourstars Multi-Services. A further disbursement of N496.49 million was made to Pinnakle Innovations Nigeria Limited, a company incorporated fourteen months into the Director-General’s tenure, for various illumination and power projects.
Under the Public Procurement Act 2007, federal agencies are mandated to ensure rigorous competitive selection and verify the legal status and capacity of any contractor before the release of public funds. The fact that these companies were awarded significant federal advances despite being newly formed—and in some cases, lacking a history of operational activity—raises significant questions regarding adherence to these statutes. While these transactions are not definitive proof of criminal intent, they constitute major red flags that directly challenge the spirit of the Corrupt Practices and Other Related Offences Act 2000.
Compounding these issues are transactions involving companies with even more ambiguous credentials. On October 21, 2024, the commission paid N804.39 million to K&H Consultancy Limited for a solar project in Jigawa State; however, this entity does not appear on the Corporate Affairs Commission (CAC) register. Furthermore, the commission issued N49.67 million to Embassy Tours Limited, a firm incorporated in 2010 but currently listed as inactive on the CAC register, for the installation of solar streetlights in Anambra State.
These financial activities, authorized under the directorship of Dr. Abdullahi, appear to contradict the requirements for prudent stewardship and value-for-money provisions stipulated by the Fiscal Responsibility Act 2007. Given the recurring patterns of identical payments, the lack of corporate records for some beneficiaries, and the utilization of inactive companies for public infrastructure, there is an urgent need for accountability. The commission’s current financial record leaves many questions unanswered, and it rests upon the Director-General to provide a comprehensive explanation for these disbursements.