The Socio-Financial Rights and Accountability Venture (SERAP) has filed a lawsuit in opposition to the Central Bank of Nigeria (CBN), demanding a full account of an alleged N3 trillion in lacking or diverted public funds.
The lawsuit can also be looking for accountability over the sum of N629 billion reportedly paid to “unknown beneficiaries” underneath the Anchor Debtors’ Programme.
In an announcement launched on Sunday, SERAP stated the authorized motion adopted what it described as “grave allegations” contained within the newest annual report of the Auditor-Common of the Federation, revealed on September 9, 2025.
Based on the group, the swimsuit marked FHC/ABJ/CS/250/2026 was filed final week on the Federal Excessive Court docket in Abuja, looking for an order of mandamus to compel the apex bank to disclose the whereabouts of the funds and supply detailed explanations of how they had been spent.
What they’re saying
SERAP argued that the findings within the Auditor-Common’s report recommend critical breaches of constitutional provisions, the CBN Act, and established anti-corruption requirements.
The organisation said that the alleged diversion of funds displays a broader failure of accountability inside the central bank and undermines public confidence within the administration of nationwide assets.
- “These grim allegations by the Auditor-Common recommend grave violations of the general public belief, the provisions of the Nigerian Structure 1999 (as amended), the CBN Act, and anticorruption requirements,” the assertion stated.
SERAP added that the scenario highlights the CBN’s alleged failure to conform absolutely with its governing legal guidelines and to uphold ideas of transparency and accountability.
The group maintained that residents have a basic proper to understand how public funds are managed and to demand accountability for any misuse.
It famous that granting the courtroom orders sought would assist safe restitution and compensation the place applicable, whereas additionally stopping a recurrence of such alleged abuses.
“Nigerians have the precise to know the whereabouts of the lacking or diverted public funds,” SERAP stated, including that transparency is crucial to rebuilding belief in public establishments.
Flashback
This isn’t the primary time SERAP has dragged the apex bank to courtroom. Final yr, the civil society group had additionally filed a lawsuit in opposition to the CBN “over the failure to disclose the small print of any direct funds to the 774 native authorities councils in Nigeria together with the quantities despatched to every council.”
In that lawsuit, SERAP was asking the courtroom to “direct and compel the CBN to reveal the small print of any direct funds to the 774 native authorities councils in Nigeria together with the quantities despatched to every council for the reason that Supreme Court docket judgment.”
SERAP was additionally asking the courtroom to “direct and compel the CBN to reveal whether or not any direct cost has been comprised of the Federation Account with the CBN to the native authorities councils in Rivers State and to clarify the rationale for any such cost.”
The end result of that lawsuit can’t be ascertained as of the time of submitting this report.
What it is best to know
SERAP was created in 2004 and registered as a non-governmental, non-profit group underneath Nigerian legal guidelines.
The group stated it goals to make use of human rights legislation to encourage the federal government and others to handle developmental and human rights challenges comparable to corruption, poverty, inequality and discrimination.
Amongst its a number of lawsuits in opposition to authorities establishments, final yr, SERAP additionally filed a lawsuit in opposition to the Nigerian Nationwide Petroleum Firm Restricted (NNPCL) over its alleged failure to remit N500 billion in oil income to the Federation Account between October and December 2024.
