The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Central Bank of Nigeria over an alleged failure to account for about ₦3 trillion in public funds.
Court documents indicate that the suit was lodged at the Federal High Court, Abuja Division, where the advocacy organisation is asking the judiciary to compel the apex bank to provide a detailed explanation of the disputed funds.
The group is seeking orders mandating full disclosure of disbursement records and measures taken to recover any unaccounted sums.
According to filings before the court, the case is anchored on findings contained in the 2022 annual audit report issued by the Auditor-General of the Federation.
The audit reportedly raised concerns over significant financial discrepancies and questioned the documentation of several transactions within the apex bank’s accounts.
Part of the controversy revolves around disbursements under the Anchor Borrowers’ Programme, where substantial sums were reportedly paid to beneficiaries whose identities were not clearly documented.
The advocacy group maintains that the lack of transparency undermines accountability in the management of public resources.
Furthermore, the suit argues that failure to provide a comprehensive account of the funds contravenes constitutional principles on public finance oversight and weakens public trust in financial governance.
Hence, the organisation is urging the court to direct immediate compliance with transparency obligations and ensure that any missing funds are traced and recovered where necessary.
As of press time, the Central Bank of Nigeria had not issued a formal response to the lawsuit.
However, the proceedings are expected to test the scope of institutional accountability within Nigeria’s public finance framework and could set a precedent for future transparency-related litigation.