By Ayomide Otitoju
The Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), to explain the whereabouts of over N100 billion in “dirty and bad notes” and other large sums awaiting examination across various CBN branches. This demand follows allegations detailed in the latest annual report from the Auditor-General of the Federation.
In a letter dated June 29, 2024, signed by Deputy Director Kolawole Oluwadare, SERAP highlighted grave concerns regarding potential violations of public trust, the Nigerian Constitution, the CBN Act, and both national and international anti-corruption obligations.
The organization further pressed Cardoso to clarify the status of N7.2 billion allocated for the construction of the CBN Dutse branch in 2010, as well as N4.8 billion designated for renovating the CBN Abeokuta branch in 2009. They also demanded the publication of names of contractors who received funds but failed to complete these projects.
Additionally, SERAP called for accountability on outstanding loans of N1.2 billion to Enugu State Government in 2015 and N1.9 billion to Anambra State Government between 2015 and 2016, urging their full recovery and return to the treasury.
The organization emphasized the necessity of referring these alleged violations to appropriate anti-corruption agencies for investigation and prosecution if necessary, stressing that failure to comply within seven days could lead to legal action.
SERAP underscored the importance of transparency and adherence to constitutional principles by public institutions, asserting that accountability in managing public resources is essential under both Nigerian law and international conventions against corruption.
