The Socio-Economic Rights and Accountability Project (SERAP) issues a seven-day ultimatum to Nigeria’s Central Bank of Nigeria (CBN) and its governor, Olayemi Cardoso, demanding explanations for alleged irregularities in election-related and other public funds. SERAP says failure to respond could lead to “appropriate” or legal action.
SERAP’s demand focuses on $6.23 million it says is allegedly diverted or unaccounted-for election funds, alongside claims involving more than ₦1.63 trillion in other public funds cited in the Auditor-General of the Federation’s 2023 Annual Report. Outlets report that SERAP bases its allegations on the Auditor-General’s findings of financial issues during 2023.
While the outlets largely agree on the ultimatum, the amounts involved, and the Auditor-General’s role, they differ slightly in emphasis. Some articles describe the demand as linked to funds for a “Buhari election,” and others broaden the list of questioned items, including unrecovered intervention loans to state governments and issues tied to bank and government lending programmes. SERAP’s letter is described as asking the CBN to provide details on beneficiaries, recovery measures, and internal investigations.
