The Socio-Economic Rights and Accountability Project (SERAP) has called on the Central Bank of Nigeria (CBN) to provide a detailed and transparent account of the alleged missing N3 trillion public funds or face immediate legal action.
In a statement issued on Sunday, SERAP urged the apex bank to disclose comprehensive information on the status, utilization, and management of the funds reportedly unaccounted for in its financial operations. The organisation stressed that Nigerians deserve full transparency, given the critical role the CBN plays in maintaining economic stability and managing national resources.
SERAP noted that despite repeated demands for clarity, the CBN has failed to provide satisfactory explanations regarding the whereabouts and usage of the funds. The group emphasized that the lack of accountability raises serious concerns about governance, fiscal responsibility, and public trust.
“The CBN has a legal and moral obligation to explain how N3 trillion in public funds was spent. If the bank fails to comply within seven days, SERAP will take all necessary legal steps to ensure accountability,” the statement read.
SERAP further stated that it has already issued a formal request for transparency, invoking the Freedom of Information (FoI) Act, and warned that continued silence from the CBN would only deepen suspicion and erode confidence in the nation's financial institutions.
The organisation called on President Bola Ahmed Tinubu and relevant oversight bodies, including the National Assembly, to ensure that the CBN adheres to the highest standards of openness and fiscal discipline.