The Socio-Economic Rights and Accountability Project (SERAP) has urged Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), to provide an explanation for the over N100 billion in ‘dirty and bad notes’ and other large sums of cash awaiting examination, which are stored in various branches of the apex bank.
SERAP highlighted that these allegations are documented in the latest annual report by the Auditor-General of the Federation.
The organization also called on Cardoso to account for N7.2 billion allocated for the construction of the CBN Dutse branch in 2010 and N4.8 billion earmarked for the renovation of the CBN Abeokuta branch in 2009.
Furthermore, SERAP demanded the publication of the names of the contractors who received these funds but failed to complete the projects.
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In a letter released on Saturday and signed by SERAP deputy director Kolawole Oluwadare, the organization said: “These grim allegations by the Auditor-General suggest grave violations of the public trust, the provisions of the Nigerian Constitution, the CBN Act, and national and international anti-corruption obligations.”
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or 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 letter reads in part.
“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Central Bank of Nigeria (CBN) has since 2017 been keeping over N100 billion [N100,672,999,000.00] ‘dirty and bad notes’, and other large sum of cash awaiting examination in various branches of the CBN.”
