US EditionAccount for N3trn Public Funds - SERAP Drags CBN to Court
SERAP demands detailed accounting of N3 trillion in public funds, including N629 billion linked to the Anchor Borrowers Programme, citing constitutional breaches and anti-corruption violations.
- Last week, SERAP filed suit FHC/ABJ/CS/250/2026 at the Federal High Court in Abuja to demand an accounting for N3 trillion and over N629 billion paid to `unknown beneficiaries`.
- The Auditor‑General's annual report published on 9 September 2025 alleged grave violations of public trust and contraventions of the 1999 Nigerian Constitution, the CBN Act, and anti‑corruption standards.
- Seeking a court order, SERAP asks for an order of mandamus to compel the CBN to account for and explain the missing N3 trillion, including detailed expenditure reports.
- Granting SERAP's reliefs would, the group says, advance Nigerians' rights to restitution, compensation and guarantee of non‑repetition while ensuring their right to know missing public funds' whereabouts.
- The allegations underscore a broader issue of CBN accountability, as SERAP says they reflect persistent failure to comply with its Act and uphold transparency and accountability obligations.
11 Articles
11 Articles
Account for N3trn public funds - SERAP drags CBN to court
A lawsuit has been filed by the Socio Economic Rights and Accountability Project, SERAP, against the Central Bank of Nigeria, CBN, over its alleged failure to account for N3 trillion in public funds, including over N629 billion reportedly paid to “unknown beneficiaries” under the Anchor Borrowers’ Programme. This was disclosed in a statement issued on Sunday by SERAP Deputy Director, Kolawole Oluwadare. The suit, numbered FHC/ABJ/CS/250/2026, wa…
SERAP sues CBN over 'missing N3 trillion of public funds’
The lawsuit followed the grave allegations contained in the latest annual report by the Auditor-General of the Federation. The post SERAP sues CBN over ‘missing N3 trillion of public funds’ appeared first on Premium Times Nigeria.
SERAP Sues CBN Over Alleged Missing N3trn
Socio-Economic Rights and Accountability Project (SERAP) has sued the Central Bank of Nigeria (CBN) “over the failure to account for and explain the whereabouts of the missing or diverted N3 trillion of public funds, including the over N629 billion paid to ‘unknown beneficiaries’ as part of the Anchor Borrowers’ Programme.” The lawsuit which no date has been fixed for its hearing, followed the grave allegations contained in the latest annual r…
SERAP drags CBN to court over failure to ‘account for missing N3 trillion of public funds’
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to account for and explain the whereabouts of the missing or diverted N3 trillion of public funds, including the over N629 billion paid to ‘unknown beneficiaries’ as part of the The post SERAP drags CBN to court over failure to ‘account for missing N3 trillion of public funds’ appeared first on National Accord …
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