SERAP sues Nigeria's central bank over $6.23m election funds, ₦1.63trn
The civil society group wants the Central Bank of Nigeria to account for funds flagged in an Auditor-General's report.
What happened
The Socio-Economic Rights and Accountability Project (SERAP) has sued the Central Bank of Nigeria (CBN) at the Federal High Court in Abuja, demanding it account for $6.23m in election funds and over ₦1.63trn in other public funds.123
The lawsuit follows a report, published August 7, 2026, that identified financial transactions and unrecovered loans from January to December 2023.1
The funds in question were flagged by the Auditor-General, according to SERAP's filing, with Vanguard reporting the allegations stem from Volume II of the Auditor-General's report.23
The lawsuit was filed at the Federal High Court in Abuja.2
Key points
What the coverage leaves out
- None of the outlets reviewed reported a response from the Central Bank of Nigeria to the lawsuit.
- None of the outlets reviewed detailed the specific transactions or loans identified in the Auditor-General's report.
- None of the outlets reviewed specified what legal remedy or outcome SERAP is seeking beyond an accounting of the funds.
Why it matters
Sources (3)
Every outlet we drew on, grouped by where it is based. Read the originals for the full reporting.
Africa
- 1Channels TelevisionNGPrivate
SERAP Sues CBN Over Alleged $6.23m, ₦1.63trn Unaccounted Public Funds
- 2PunchNGPrivate
- 3VanguardNGPrivate