By Dorcas Jonah
The Transparency Advocacy for Development Initiative (TADI) has dismissed recent reports alleging that the Central Bank of Nigeria (CBN) failed to remit over ₦17.44 trillion of public funds.
This is contained in a statement jointly signed by Comrade Yomi David, the Executive Director, and Public Relations of TADI, Adeniran Taiwo, on Monday in Abuja.
According to the group, the allegations stem from a gross misinterpretation of the 2022 Auditor-General’s Report on Non-Compliance.
“TADI clarified that the report raised an audit query concerning a recomputation of the CBN’s operating surplus for the 2022 financial year, amounting to about ₦1.445 trillion,’’ the group said.
TADI stressed that the issue predates the current CBN Governor, Olayemi Cardoso’s assumption of office in September 2023 and therefore could not be attributed to his administration.
The group explained that the Auditor-General’s report identified outstanding revenues totaling ₦1.768 trillion across 12 Ministries, Departments, and Agencies (MDAs) with the CBN recording the largest unresolved figure due to accounting and reconciliation differences.
The organisation emphasised that such queries highlight the need for clarification and improved documentation, not evidence of financial mismanagement.
The group described the reports on ₦16 trillion allegations as fictitious and unsupported by any audit documentation.
“The ₦16 trillion figure does not appear anywhere in the 2022 Auditor-General’s Report. It is a political extrapolation not an audit finding.
“There is no documentary or factual basis for claims that such an amount was unremitted or mismanaged by CBN leadership.
The group appealed that the Cardoso should not be hold accountable for the financial irregularities that occurred before his tenure.
The group also noted that accountability must be tied to periods of administrative authority.
The group described the attempt to link Cardoso to pre-2023 audit issues as unfair, illogical, and contrary to global public finance principles. (NAN)
