Socio-Economic Rights and Accountability Project (SERAP) has called for an urgent investigation into findings contained in the 2022 report of the Auditor-General of the Federation, which alleged that the Central Bank of Nigeria (CBN) failed to remit over ₦1.4 trillion in operating surplus to the Consolidated Revenue Fund.
In a post published on its official X account on Sunday as part of its SERAP Auditor-General Watch series, the organisation highlighted key observations from the audit report, describing the findings as issues requiring immediate clarification.
According to SERAP, the Auditor-General reported that the apex bank did not remit ₦1,445,593,400,000 of its operating surplus to the Consolidated Revenue Fund.
The organisation also said the audit found that the CBN failed to collect more than ₦1,413,450,108,864 in revenues.
Quoting from its post, SERAP stated: “The Auditor-General of the Federation has raised serious concerns about the management of public revenues by the Central Bank of Nigeria (CBN).”
It further cited the audit findings, saying: “The CBN failed to remit ₦1,445,593,400,000 of its operating surplus to the Consolidated Revenue Fund.”
SERAP also quoted another aspect of the report: “The CBN also failed to collect over ₦1,413,450,108,864 in revenues.”
The anti-corruption organisation maintained that the allegations warrant thorough scrutiny by the appropriate authorities to determine the circumstances surrounding the reported figures.
“These findings require urgent clarification and investigation.”
It urged the relevant agencies to ensure accountability and recover any public funds found to be due to the Federation.
“The relevant authorities must establish what happened to these funds, ensure that all monies due to the Federation are recovered, and hold anyone responsible for wrongdoing to account where appropriate.”
SERAP stressed that transparency in the management of public finances remains essential to public trust.
“Nigerians deserve to know how their public resources are managed.”
The organisation added that it would continue highlighting additional observations from the Auditor-General’s report in subsequent editions of its SERAP Auditor-General Watch series.
The Central Bank of Nigeria had not responded publicly to the claims at the time of filing this report.
