Missing $6.2m Buhari Election Fund: SERAP Gives CBN Seven Days to Explain
SERAP says the missing sums include intervention loans, bank recoveries and Anchor Borrowers Programme funds, and it wants an independent forensic reconciliation.
- On Saturday, the Socio-Economic Rights and Accountability Project gave Central Bank of Nigeria Governor Olayemi Cardoso seven days to account for over ₦1.63 trillion in missing public funds and $6.23 million in election-related expenditures.
- The demand follows findings in the Auditor-General's 2023 Annual Report, published August 7, 2026, which exposed significant discrepancies in intervention loans to states and financial support for distressed banks.
- Specific concerns include over ₦1.25 trillion in unrecovered intervention loans to states, ₦116.18 billion in loans to distressed banks, and ₦262.86 billion disbursed under the Anchor Borrowers Programme without transparent beneficiary disclosures.
- Regarding the $6.23 million, SERAP urged the CBN to publish findings from an internal investigation into the alleged fraud purportedly requested by former President Muhammadu Buhari and secure full recovery.
- Citing constitutional mandates, SERAP urged the CBN to refer suspected criminal conduct to the Economic and Financial Crimes Commission or the Independent Corrupt Practices and Other Related Offences Commission for investigation.
16 Articles
16 Articles
Missing $6.2m Buhari election fund: SERAP gives CBN seven days to explain
The Socio-Economic Rights and Accountability Project, SERAP, has given the Central Bank of Nigeria, CBN, seven days to account for $6.23 million election money and over N1.63 trillion missing public funds. SERAP made the demand in a letter dated September 26, 2026, signed by its Deputy Director, Kolawole Oluwadare. According to SERAP, the Auditor-General’s 2023 […] Missing $6.2m Buhari election fund: SERAP gives CBN seven days to explain
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247ureports.comSERAP gives CBN 7 days to account for allegedly diverted $6.23m election funds, ₦1.63trn other public funds
The Socio-Economic Rights and Accountability Project (SERAP) has given the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, and the CBN seven days “to account for US$6.23 million in allegedly diverted or unaccounted-for election funds and over ₦1.63 trillion in other public funds, or face appropriate legal action.” The grave allegations are […]
SERAP Gives CBN 7 Days to Explain $6.23 million
LAGOS, Nigeria — The Socio-Economic Rights and Accountability Project, SERAP, has given the Central Bank of Nigeria seven days to account for a $6.23 million payment linked to an alleged election-funding request and more than ₦1.63 trillion in public funds flagged in a federal audit. SERAP addressed the demand to CBN Governor Olayemi Cardoso in […]
SERAP Queries CBN Over $6.23m Election Funds, N1.63tn Public Funds
By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has given the Governor of the Central Bank of Nigeria, Mr Yemi Cardoso, and the apex bank seven days to account for $6.23 million in allegedly diverted or unaccounted-for election funds and over N1.63tn in other public funds. SERAP made the demand in a letter […]
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