BREAKING: Auditor-General Reportedly Orders CBN to Explain Depletion of Foreign Reserves

• Over $8 billion [$8,973,684,257.95] was reportedly withdrawn from Nigeria's foreign reserves between 30th June 2019 and 30th June 2020
• The Socio-Economic Rights and Accountability Project (SERAP) said the withdrawal was done without "cogent reason."
• The advocacy said the auditor-general of the federation, Shaakaa Kanyitor Chira, has the apex to explain the depletion of the foreign reserves in that period

Legit.ng journalist Adekunle Dada has over 5 years of experience covering metro and government policy.

FCT, Abuja - The auditor-general of the federation, Shaakaa Kanyitor Chira, has reportedly ordered the Central Bank of Nigeria (CBN) to explain the depletion of the foreign reserves between 2019 and 2020.

The Socio-Economic Rights and Accountability Project (SERAP) said over $8 billion [$8,973,684,257.95] was withdrawn from Nigeria's foreign reserves between 30th June 2019 and 30th June 2020 but without "cogent reason."

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The advocacy group stated this via its X handle (formerly known as Twitter) @SERAPNigeria, on Thursday, February 15.

Nigerians react

@edoyakulo

The missing $8B from the foreign reserve is about N12 trillion of today's value but it will be explained away and nobody will be held liable.

@hannah_agha

In 2024 y was the audit not done before now

@Peteraboh

At the end of the day, nobody will be tried and nobody will go to prison

@realKingKuroO

Another shameless uttered forged signature they'll opine.

@Tee_5806

Buhari needs to come back to answer some questions.

@scientistelochi

Just look at the loot

@williamsidopise

"By the time the dust is settled, we will all see the damage Buhari did to our economy, Tinubu should summon the courage and bring Buhari and his cabals in or they will hip the whole blame of the coming economy collapse on him just like they are doing to Emefiele"

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Recovered stolen funds reportedly missing from CBN

Meanwhile, Legit.ng reported that SERAP said stolen public funds recovered between 2016 and 2019 are reportedly missing from the apex bank. The group said the auditor-general of the federation has ordered the CBN to account for the missing money.

This was disclosed in a tweet shared via its X handle (formerly known as Twitter) @SERAPNigeria, on Wednesday, February 14.

“Recovered stolen public funds between 2016 and 2019 are reportedly missing from the Central Bank of Nigeria [CBN]. The Auditor-General of the Federation wants the CBN to account for the money.”

Source: Legit.ng