**Missing Funds: SERAP Takes CBN to Court Over Alleged N3 Trillion** A storm is brewing at the Central Bank of Nigeria (CBN) as the Socio-Economic Rights and Accountability Project (SERAP) has dragged the apex bank to court over its alleged failure to account for N3 trillion in public funds. The lawsuit, which was filed at the Federal High Court in Abuja, has raised serious questions about transparency and accountability in the management of Nigeria's economy. According to SERAP, the CBN has failed to provide a detailed explanation of how N3 trillion in public funds, including N629 billion paid to "unknown beneficiaries" under the Anchor Borrowers' Programme, was spent. This development has sparked outrage among Nigerians, who are demanding that the CBN come clean on the alleged discrepancies in its financial records. The Auditor-General of the Federation's latest annual report, published in September 2025, highlighted these discrepancies, prompting SERAP to take action. The organisation is seeking an order of mandamus to compel the CBN to account for the allegedly missing funds and provide a comprehensive report on the disbursement of the funds. This development is a serious concern for Nigerians, who are already grappling with the economic challenges facing the country. The fact that N629 billion was paid to "unknown beneficiaries" raises questions about the effectiveness of the Anchor Borrowers' Programme and the CBN's oversight of public funds. SERAP's Deputy Director, Kolawole Oluwadare, stated that the organisation is seeking to advance citizens' rights to transparency, restitution, compensation, and guarantees of non-repetition. This lawsuit is a test of the CBN's commitment to transparency and accountability, and Nigerians are watching with bated breath to see how this plays out. As Nigeria continues to grapple with economic challenges, transparency and accountability in the management of public funds are more important than ever. The court's decision on this matter will have far-reaching implications for the country's economic future and the trust that Nigerians have in their institutions. Ultimately, the success of this lawsuit will depend on the CBN's willingness to come clean on the alleged discrepancies in its financial records and to provide a comprehensive report on the disbursement of the funds. Nigerians are eager to see justice served and for the CBN to be held accountable for its actions.