{
  "id": 13676454,
  "title": "SERAP sues CBN over $6.23m election funds, N1.63tn others",
  "url": "https://urgent.news/2026/10/11/serap-sues-cbn-over-6-23m-election-funds-n1-63tn-others-13676454",
  "topic": "world",
  "section": "World",
  "published": "2026-10-11T08:12:03.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/serap-sues-cbn-over-6-23m-election-funds-n1-63tn-others/"
  },
  "original_language": "en",
  "account": "The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) for its alleged failure to account for $6.23 million in election-related funds and over N1.63 trillion in other public funds, as identified in the Auditor-General of the Federation's 2023 annual report. The lawsuit, filed at the Federal High Court in Abuja, seeks a court order compelling the CBN to disclose the beneficiaries, repayment status, and recovery measures related to the funds, as well as identifying officials responsible for approving and disbursing the money.",
  "summary": "The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against the Central Bank of Nigeria (CBN) over its alleged failure to account for certain public funds. According to reports, the CBN is accused of not accounting for $6.23m in election-related funds and over N1.63tn in other public funds.\n\nThe funds in question include $6.23m linked to an allegedly fraudulent election-funding request, N1.25tn in unrecovered intervention loans to state governments, N116.18bn in loans to distressed and liquidated banks, and N262.86bn disbursed under the Anchor Borrowers’ Programme, as per the Auditor-General of the Federation’s 2023 annual report.\n\nSERAP is seeking a court order to compel the CBN to account for the funds, disclose the beneficiaries and repayment status of affected transactions, and identify officials responsible for approving and disbursing the money. The suit was filed at the Federal High Court in Abuja.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch Nigeria",
        "title": "SERAP sues CBN over $6.23m election funds, N1.63tn others",
        "url": "https://urgent.news/2026/10/11/serap-sues-cbn-over-6-23m-election-funds-n1-63tn-others",
        "published": "2026-10-11T08:06:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}