CBN Sued Over Missing $6.23M Election Funds and N1.63T
The Central Bank of Nigeria (CBN) has been taken to the Federal High Court in Abuja over allegations of failing to account for $6.23 million in missing election funds and over N1.63 trillion in public money. The lawsuit, marked FHC/ABJ/CS/2450/2026, was filed by the Lagos-based rights group Socio-Economic Rights and Accountability Project (SERAP) following the Auditor-General of the Federation's 2023 Annual Report published on 7 August 2026.
The report indicates that the CBN did not account for significant public funds, including the $6.23 million allegedly linked to former President Muhammadu Buhari, N1.25 trillion in unrecovered intervention loans, N116.18 billion in loans to distressed banks, and N262.86 billion under the Anchor Borrowers’ Programme. SERAP's legal team is seeking a court order for the CBN to disclose details of the missing funds, identify responsible officers, and ensure recovery of diverted funds.
The organization argues that accountability is essential for Nigeria’s constitutional democracy.
Plus234Feed summary based on reporting from Nigerian Tribune. Read the original report below.
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