SERAP gives CBN 7 days to account for $6.23m election funds, N1.63trn
The civil society group has demanded the Central Bank of Nigeria explain allegedly diverted funds or face legal action.
What happened
SERAP gave the CBN Governor, Olayemi Cardoso, and the CBN seven days to account for $6.23m in allegedly diverted or unaccounted-for election funds and over N1.63 trillion in other public funds, or face legal action.123
SERAP also urged the CBN to account for N262.86 billion disbursed under the Anchor Borrowers' Programme, including the names and number of beneficiaries and participating 'Anchors.'2
Key points
What the coverage leaves out
- None of the outlets reviewed reported a response from the CBN or Governor Cardoso to SERAP's allegations.
- None of the outlets reviewed detailed the specific evidence SERAP is relying on for the allegations of diversion.
Why it matters
SERAP is a Nigerian civil society organisation that has previously used public letters and legal threats to press government bodies for financial accountability.123
What to watch
- Whether the CBN responds within the seven-day deadline set by SERAP.
- Whether SERAP proceeds with legal action if the CBN does not comply.
Sources (3)
Every outlet we drew on, grouped by where it is based. Read the originals for the full reporting.
Africa
- 1PunchNGPrivate
Account for $6.23m election funds or face legal action, SERAP tells CBN
- 2Premium TimesNGIndependent
SERAP asks CBN to account for allegedly diverted $6.23m, ₦1.63trn
- 3VanguardNGPrivate