SERAP Demands CBN Governor Explain Missing ₦3 Trillion Within 7 Days

By Diafa Doubra, Warri

The Socio‑Economic Rights and Accountability Project (SERAP) has given the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, a seven-day ultimatum to account for ₦3 trillion allegedly missing from public funds. The demand follows findings in the 2022 Auditor-General’s report, which highlighted major financial discrepancies in the CBN’s records.

SERAP noted that over ₦1.4 trillion in operating surplus was not remitted to the Consolidated Revenue Fund, ₦629 billion under the Anchor Borrowers’ Programme remains unaccounted for, and ₦784 billion in intervention loans have yet to be recovered. Additionally, ₦125 billion “intervention” funds reportedly lack proper documentation, raising concerns over transparency and accountability.

The group urged the CBN to identify those responsible, recover the funds, and refer implicated individuals to anti-corruption agencies such as the EFCC and ICPC. SERAP warned that failure to provide a full account within the seven-day window would force the organisation to pursue legal action to protect public resources.