Nigeria · Story · Politics
SERAP takes legal action against CBN over unaccounted funds
SERAP has filed a lawsuit against the CBN for failing to account for $6.23 million in election funds and over ₦1.63 trillion in public funds.
No new coverage since 11 October 2026.
The story so far as of 11 October 2026
On 27 September, SERAP issued a seven-day ultimatum to the Central Bank of Nigeria (CBN) to account for $6.23 million in allegedly diverted election funds and over ₦1.63 trillion in other public funds. Following this, on 11 October, SERAP filed a lawsuit against the CBN at the Federal High Court in Abuja for failing to provide the requested accountability. The lawsuit demands disclosure of the transactions and identification of the recipients of these funds.
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Coverage, day by day
- Regulation
SERAP sues CBN over $6.23m and ₦1.63trn unaccounted funds
Impact Lenders to Nigerian public projects face increased scrutiny over fund accountability.
Sources: Channels TV ↗, Vanguard Nigeria ↗
- Politics
SERAP demands CBN account for $6.23m election funds
Impact Financial institutions and government contractors face potential legal and regulatory scrutiny as SERAP pressures CBN for transparency.
Sources: Punch ↗, Daily Post Nigeria ↗
Sources in this story
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