SERAP Demands CBN Account for $6.23M Election Funds
The Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to the Central Bank of Nigeria (CBN) to explain the whereabouts of $6.23 million related to alleged election funding requests made by former President Muhammadu Buhari, as well as over N1.63 trillion in missing public funds. This demand was articulated in a letter dated September 26, 2026, signed by SERAP's Deputy Director, Kolawole Oluwadare.
The Auditor-General’s 2023 report, published on August 7, 2026, revealed the missing funds, which include N1.25 trillion in unrecovered intervention loans to state governments, N116.18 billion in loans to distressed banks, and N262.86 billion distributed under the Anchor Borrowers Programme. SERAP has requested CBN Governor Olayemi Cardoso to provide details on the disbursement and recovery plans for these funds, as well as a report on the internal investigation regarding the $6.23 million election money.
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