The Socio-Economic Rights and Accountability Project (SERAP) has flagged fresh concerns over how the Central Bank of Nigeria (CBN) managed public funds, citing findings from the Auditor-General of the Federation’s 2022 audit report.
According to the report, the CBN failed to remit ₦1,445,593,400,000 in operating surplus to the Consolidated Revenue Fund, as required. The audit also found that the apex bank failed to collect more than ₦1,413,450,108,864 in revenues owed to the Federation.
The disclosures form part two of SERAP’s ongoing “Auditor-General Watch” series, which is examining findings from the federal audit report.
SERAP said the discrepancies demand urgent clarification, calling on relevant authorities to determine what became of the funds, recover all monies owed to the Federation, and hold accountable anyone found culpable of wrongdoing.
The organisation said Nigerians are entitled to transparency on how public resources are managed, and indicated that further findings from the Auditor-General’s report would be published in subsequent instalments of the series.
