The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against the Central Bank of Nigeria (CBN) over the alleged disappearance of N100 billion worth of damaged Naira notes. This information was revealed in a statement by SERAP’s deputy director, Kolawole Oluwadare, on Sunday.
According to the group, the lawsuit was filed last week under suit number FHC/L/MSC/441/2024 at the Federal High Court in Lagos. The suit seeks to compel the CBN to account for the missing N100 billion in damaged notes that have been stored in various CBN branches since 2017.
SERAP’s lawyers, Kolawole Oluwadare and Mrs. Adelanke Aremo, emphasized that Nigerians have the right to know the status of public funds. They argue that granting the reliefs sought in the suit would support Nigerians’ rights to restitution, compensation, and assurances of non-repetition.
As of the time of this report, the CBN has not officially responded to SERAP’s claims. In June, SERAP had issued a seven-day ultimatum to the CBN to address the alleged missing N100 billion in damaged notes.