The socio-economic Rights and accountability has sued the central bank of Nigeria falling to account for the $6.23m in election and other related funds and also more than N1.63tn other public funds stolen by the auditor general of the federation dated back to 2023 as announced on the federation 's 2023 annual report.
SERAP is seeking a court order to make the central bank of Nigeria (CBN) to give an account for the misappropriated funds, disclose the beneficiaries and repayments status of affected transactions and identity the officials responsible for the approving and disbursing the money.
The organization disclosed this on Monday by Kolawole Oluwadare, its deputy director.
The funds includes $6.23m linked to an allegedly fraudulent electoral funding perpetuated by former president Mahamadu Buhari, N1.25tn in unrecovered intervention loan to state governments, N116.18bn in loan to distressed and liquidated banks, and N262.86bn disbursed under the achore borrowers' programme.
The group (SERAP ) is seeking an order to direct and compel the central bank of Nigeria (CBN) to give an account to the tone of $6.23m allegedly diverted and unaccounted for election and another over N1.63tn in other public funds.
The group also want the central bank of Nigeria CBN to identify officials and other persons responsible for approving and disbursing the affected funds and also disclose any disciplinary actions taken against them.
The organization while explaining it's position, stated that the trust and accountability of public institutions like the central bank of Nigeria, is a crucial pillar of Nigeria constitutional democracy.
How ever, no date has been fixed for hearing.
Source: the punch.
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