The Socio-Economic Rights and Accountability Project (SERAP) has announced that it has taken legal action against the Central Bank of Nigeria (CBN) over the alleged disappearance of N100 billion in damaged Naira notes.
In a statement released on Sunday by SERAP’s deputy director, Kolawole Oluwadare, the organization disclosed that the lawsuit was filed last week under suit number FHC/L/MSC/441/2024 at the Federal High Court in Lagos.
The lawsuit aims to compel the CBN to account for over N100 billion in damaged and unusable Naira notes that have reportedly been stored in various CBN branches since 2017.
“Nigerians have the right to know the whereabouts of 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 respond to SERAP’s claims at the time of this report.
Earlier, in June, SERAP had issued a 7-day ultimatum to the CBN to account for the allegedly missing N100 billion in damaged notes.