CBN Sued Over Missing ₦3 Trillion Paid to Unknown Recipients

The Central Bank of Nigeria (CBN) has been taken to court over the alleged mismanagement of ₦3 trillion paid to unknown beneficiaries, as reported by the Socio-Economic Rights and Accountability Project (SERAP). The lawsuit was filed in the Federal High Court in Abuja, following a report from the Office of the Auditor General released on September 9, 2025.

SERAP is seeking a court order to compel the CBN to explain the whereabouts of the missing funds and provide detailed reports on how the money was spent. The suit raises serious concerns about the handling of public funds, arguing that the situation constitutes a breach of the CBN Act and reflects a wider failure of accountability within the apex bank.

The Auditor General's report highlighted that the CBN failed to remit ₦1 trillion in operational surplus for 2022 and warned that the diversion of funds could worsen food security challenges in the country. The report also noted irregularities in contract payments and questioned the lack of documentation justifying expenditures.