SERAP gives CBN seven days to account for missing N100b dirty notes, others

Socio-Economic Rights and Accountability Project has urged the Governor of Central Bank of Nigeria , Olayemi Cardoso, to explain the whereabouts of over N100 billion bad notes and other large sums of cash awaiting examination, which are kept in various branches of CBN.

Other monies being sought include outstanding loan of N1.2 billion granted the Enugu state government in 2015 and the outstanding loan of N1.9 billion granted the Anambra State Government between 2015 and 2016. In the letter issued at the weekend by its Deputy Director, Kolawole Oluwadare, SERAP said the grim allegations by the Auditor-General suggested grave violations of public trust, the provisions of the Constitution, the CBN Act, and national and international anticorruption obligations.

“According to the recently published 2020 audited report by the AGF, the CBN has since 2017 been keeping over N100 billion ‘dirty and bad notes’, and other large sums of cash awaiting examination in various branches of the CBN. The Auditor-General fears that the ‘dirty and bad notes’ initially planned to be destroyed may have been diverted and re-injected into the economy,” it stated.

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