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flag SERAP demands CBN explain alleged diversion of $3.5 trillion in public funds within seven days.

flag The Socio-Economic Rights and Accountability Project (SERAP) has demanded the Central Bank of Nigeria explain the alleged diversion of N3 trillion in public funds within seven days, citing a 2022 Auditor-General report. flag SERAP accused the CBN of failing to remit over N1.4 trillion in surplus, not recovering N629 billion from the Anchor Borrowers’ Programme, and losing N784 billion in intervention loans. flag It also criticized N125 billion spent on undocumented interventions and N1.7 billion spent on vehicles for the Nigeria Immigration Service, calling the actions unconstitutional. flag SERAP warned of legal action if the CBN does not respond, emphasizing public accountability and the need to recover misused funds.

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