The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria(CBN) over its alleged failure to account for N3 trillion in public funds, including more than N629 billion reportedly paid to “unknown beneficiaries” under the Anchor Borrowers’ Programme.
This was disclosed in a statement issued on Sunday by SERAP’s Deputy Director, Kolawole Oluwadare.
According to the organisation, the suit, marked FHC/ABJ/CS/250/2026, was filed last week at the Federal High Court in Abuja.
SERAP said the legal action followed allegations contained in the latest annual report of the Auditor-General of the Federation, published on September 9, 2025. The group is asking the court to compel the CBN to account for the allegedly missing funds and provide detailed explanations of how the money was spent.
In its statement, SERAP argued that the alleged discrepancies amount to a breach of public trust and violate provisions of the 1999 Constitution (as amended), the CBN Act, and established anti-corruption standards.
The organisation stated that it is seeking an order of mandamus directing the CBN to account for and explain the whereabouts of the N3 trillion, including comprehensive reports on the disbursement of the funds.
SERAP maintained that Nigerians have a right to transparency regarding public finances, adding that granting the requested reliefs would advance citizens’ rights to restitution, compensation, and guarantees of non-repetition.
