SERAP Drags CBN To Court Over Failure To Account For N100bn Dirty Notes

The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against the Central Bank of Nigeria, alleging the disappearance of N100 billion in contaminated Naira notes.

SERAP disclosed this in a statement on Sunday by its deputy director, Kolawole Oluwadare.

According to the group, the case was filed last week in suit number FHC/L/MSC/441/2024 at the Federal High Court, Lagos.

It stated that the suit is to direct and compel the CBN to explain the whereabouts of the over N100 billion dirty and bad notes kept in various branches of the Central Bank of Nigeria (CBN) since 2017.

“Nigerians have the right to know the whereabouts of the public funds. Granting the reliefs sought would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition”, the suit by SERAP’s lawyers, Kolawole Oluwadare and Mrs Adelanke Aremo reads in part.

Meanwhile, the apex bank has yet to officially react to the claim by SERAP as of the time of filing this report.

Earlier, in June, SERAP had issued a 7-day ultimatum to CBN to account for the alleged missing N100 billion dirty notes.