An investigative report has raised questions about financial transactions involving the Port Manager of the Tin Can Island Port Complex, Sylvester Othuke Egede, alleging that more than ₦511 million passed through personal bank accounts and accounts connected to members of his immediate family during a brief period in February 2026.
According to the report, which cites transaction records said to have been obtained from First Bank of Nigeria, Mr. Egede’s personal accounts received inflows totalling more than ₦421 million between February 2 and February 15, 2026. The report alleges that substantial portions of those funds were subsequently transferred to accounts belonging to a relative identified as Egede Oghenefejiro, with additional transactions bringing the total amount under scrutiny to more than ₦511 million.
The report states that the largest single transaction was a credit of ₦315,596,160 on February 2, 2026, carrying the reference “OFT/CAD/FAA/451/ REV TENTATIVE AMT DD 69.” It further alleges that another ₦105,445,800 was credited to the same account on February 15. According to the report, significant amounts were transferred to third-party accounts during the thirteen-day period, including transfers to the named relative.
In addition to the financial transactions, the report raises questions about an alleged conflict of interest involving Seashore Logistics and Marine Ltd (RC Number 1875979), a company incorporated on December 21, 2021, with a stated paid-up share capital of ₦30 million. Corporate registration records cited in the report list Egede Oghenefejiro, Egede Francisca, Egede Christy Kevwe and Egede Francis Oke as directors and majority shareholders. The report describes them as immediate family members of the port manager.
The report argues that the company’s operations in the marine and logistics sector could raise conflict-of-interest concerns if a serving public official has an undisclosed interest in a business operating within the industry overseen by his office. Under Nigeria’s Code of Conduct for Public Officers, public officials are subject to restrictions regarding private business interests that may conflict with their official duties.
The report also mentions another company, Bon Apetit Enterprises, a catering business it claims received contracts connected to port operations. However, the report provides no independently verified evidence confirming the award of those contracts.
The Tin Can Island Port Complex remains one of Nigeria’s busiest maritime gateways, while the Nigerian Ports Authority has announced a revenue target of ₦1.489 trillion for 2026 as part of ongoing efforts to modernise port operations. Any allegations involving senior officials are likely to attract public interest and, if substantiated, could have implications for confidence in governance within the sector.
As of the time of publication, no response had been received from Mr. Egede regarding the allegations. The Nigerian Ports Authority had also not issued an official statement addressing the claims. The allegations remain unproven, and it is not known whether any regulatory or law enforcement agency has opened a formal investigation. Any findings would ultimately depend on the outcome of official inquiries.
