The Digest:
A damning 2022 audit report has revealed that the Central Bank of Nigeria failed to remit N1.44 trillion of federal government funds, prompting SERAP to issue a seven-day ultimatum for explanations. According to the Auditor-General's findings, the CBN under Governor Yemi Cardoso's watch also authorized questionable expenditures and failed to recover billions in dubious loans, painting a picture of systemic financial mismanagement.
Key Points:
- CBN failed to remit N1.44 trillion federal operating surplus in 2022
- SERAP gives Governor Yemi Cardoso a 7-day ultimatum for explanations
- N629 billion Anchor Borrowers Programme funds paid to "unknown beneficiaries"
- N784 billion in unpaid loans and interventions remain unrecovered
- N125 billion spent on "questionable intervention activities" without documentation
- N1.79 billion was unjustifiably spent on immigration service vehicles
- Auditor-General fears funds may have been "diverted" in multiple cases
Sources: SERAP, FIJ
