The Socio-Economic Rights and Accountability Project (SERAP) has given the Central Bank of Nigeria (CBN) and its Governor, Olayemi Cardoso, seven days to account for US$6.23 million in allegedly diverted election funds and over ₦1.63 trillion in other public funds. The allegations are documented in Volume II of the Auditor-General of the Federation's 2023 Annual Report. The funds include over ₦1.25 trillion in unrecovered CBN intervention loans to state governments, ₦116.18 billion in unrecovered loans to distressed banks, and ₦262.86 billion disbursed under the Anchor Borrowers' Programme. SERAP threatened legal action if the CBN fails to comply.
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