BREAKING: CBN Governor Cardoso Under Fire as Auditor-General Uncovers Missing N1.44 Trillion

CBN Governor Cardoso has come under fire as Auditor-General uncovered a missing N1.44 trillion.

NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, is facing mounting pressure to explain the whereabouts of N1.44 trillion in missing or unremitted public funds, as revealed in the 2022 Auditor-General of the Federation’s report released on September 9, 2025.

According to the report, more than N1 trillion in operating surplus belonging to the Federal Government was not remitted into the Consolidated Revenue Fund (CRF) by the apex bank.

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In a strongly worded statement issued over the weekend, the Socio-Economic Rights and Accountability Project (SERAP), through its Deputy Director, Kolawole Oluwadare, demanded full accountability from Cardoso and the CBN leadership.

SERAP said: “According to the Auditor-General, the CBN in 2022 failed to remit over N1 trillion of the Federal Government’s portion of operating surplus into the Consolidated Revenue Fund. These grave violations reflect deeper institutional failures in transparency, accountability, and adherence to the CBN Act.”

The organisation warned that failure by Cardoso and the CBN to publicly account for the missing funds would lead to immediate legal action.

SERAP further urged the CBN governor to identify and report all officials involved in the alleged misappropriation to anti-graft agencies, including the EFCC and the ICPC, for urgent investigation and prosecution.

As of the time of filing this report, the CBN has not issued any response to the allegations.