CBN faces lawsuit over $1bn of allegedly misappropriated funds

- By Robyn King
- 14 Oct 2026

A non-governmental organisation has filed a lawsuit against the Central Bank of Nigeria (CBN) in relation to more than $1 billion of allegedly misappropriated funds.

The Socio-Economic Rights and Accountability Project (Serap) issued a statement on October 11 in which it said it had filed the lawsuit following allegations documented in volume two of the annual report by the country’s auditor-general, published on August 7. The findings cover various periods between January and December 2023

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