BREAKING: Civil Society Group Sues CBN Over Missing Funds

The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against the Central Bank of Nigeria (CBN).

The lawsuit seeks to compel the CBN to account for several large sums of money that have reportedly gone missing or been mismanaged.

Specifically, SERAP is demanding an explanation for the whereabouts of over N100 billion in “dirty and bad notes,” funds meant for CBN offices in Abeokuta and Dutse amounting to N12 billion, and N3 billion in outstanding loans granted to Anambra and Enugu states.

The suit underscores the growing concern over financial transparency and accountability within Nigeria’s central banking system.

SERAP stated that the move aims to address public dissatisfaction with the management of significant financial resources and ensure proper oversight of government funds.