Socio-Economic Rights and Accountability Project has urged the Governor of the Central Bank of Nigeria , Olayemi Cardoso to account for the whereabouts of the over N100 billion 'dirty and bad notes' and 'other large sum of cash awaiting examination' which are kept in various branches of the CBN.
It also urged Mr Cardoso to refer the grave violations of the Nigerian 1999 Constitution, the CBN Act and the country's national and international anti-corruption obligations to appropriate agencies for investigation and prosecution, as applicable, and the recovery of the public funds. The letter read in part:"We would be grateful if the recommended measures are taken within seven days of the receipt and publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest.
"The CBN in August 2010 also reportedly budgeted N7.2 billion for the construction of the Dutse branch building. The Dutse branch was due to be completed in November 2012, but the contractors have failed to complete the project. SERAP added that the CBN also reportedly failed to account for the missing outstanding loan of N1.2 billion granted to the Enugu State Government in 2015 and the outstanding loan of N1.9 billion granted to the Anambra State Government between 2015 and 2016.
"Section 16 of the Public Procurement Act states that 'all bidders shall possess the necessary professional and technical qualifications to carry out particular procurements; the financial capacity and adequate personnel to perform the obligations of the procurement contracts.There was a problem processing your submission. Please try again later.
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Nigeria: SERAP Gives CBN 7 Days to Account for Alleged Missing N100bn Dirty Notes, Other Public FundsThe Socio-Economic Rights and Accountability Project (SERAP) yesterday urged the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, to account for the N100 billion dirty and bad notes and other large sums of cash awaiting examination which are kept in various branches of the apex bank..
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