Nigeria · Story · Politics
SERAP's legal action against CBN over unaccounted funds
SERAP has taken legal action 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 September 27, 2026, SERAP demanded that the Central Bank of Nigeria account for $6.23 million in allegedly diverted election funds and over ₦1.63 trillion in public funds, threatening legal action if the CBN failed to comply. On October 11, 2026, SERAP filed a lawsuit against the CBN at the Federal High Court in Abuja, following the Auditor-General's report on these unaccounted funds, demanding disclosure of transactions and identification of recipients.
Flare-up watch: Calm (0.4) · How this is judged → · All Nigeria briefings →
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
Sources: each headline links to the original article on the publisher's site.