The Socio-Economic Rights and Accountability Project, SERAP, has urged the Governor of the Central Bank of Nigeria, CBN, Mr Olayemi Cardoso, to immediately explain the whereabouts of more than N3 trillion flagged as missing or diverted in the Auditor-General’s 2022 report.
The document, released on 9 September, raised concerns over unremitted operating surpluses, unpaid loans, questionable interventions and payments to unidentified beneficiaries.
SERAP has asked the CBN to identify those responsible and hand them over to the Independent Corrupt Practices and Other Related Offences Commission, ICPC, and the Economic and Financial Crimes Commission, EFCC, for investigation, while ensuring all missing funds are recovered and returned to the treasury.
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The group warned that the alleged breaches undermine public trust and violate constitutional and financial regulations requiring transparency and accountability. In a letter dated 15 November, SERAP gave the CBN seven days to act or face legal action.
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