The Socio-Economic Rights and Accountability Project (SERAP) has sued the Central Bank of Nigeria (CBN) at the Federal High Court, Abuja, demanding it account for $6.23 million in election funds and over N1.63 trillion flagged by the Auditor-General. The lawsuit follows allegations in Volume II of the Auditor-General of the Federation's 2023 Annual Report, published on 7 August 2026, covering various periods between January and December 2023. The funds include $6.23 million in payments linked to an allegedly fraudulent election-funding request purportedly made by former President Muhammadu Buhari, over N1.25 trillion in unrecovered CBN intervention loans to state governments, N116.18 billion in loans to distressed and liquidated banks, and N262.86 billion disbursed under the Anchor Borrowers' Programme. SERAP is seeking accountability for these funds.
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