SERAP Sues CBN Over Alleged N3 Trillion Missing Public Funds
The Socio‑Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) at the Federal High Court in Abuja over its alleged failure to account for N3 trillion in public funds, including N629 billion reportedly paid to “unknown beneficiaries” under the Anchor Borrowers’ Programme.
The suit, numbered FHC/ABJ/CS/250/2026, was filed last week following revelations in the 2025 annual report of the Auditor‑General of the Federation, published on September 9, 2025.
In a statement issued by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation argued that the alleged violations amount to a breach of public trust and contravene the 1999 Constitution (as amended), the CBN Act, and established anti‑corruption standards.
SERAP is seeking an order of mandamus compelling the CBN to account for the missing funds and provide detailed explanations of how the monies were spent.
According to the statement: “We’ve sued @cenbank over 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 group stressed that Nigerians have a right to know the whereabouts of diverted public funds, adding that granting the reliefs sought would advance transparency, restitution, and accountability.
