The Central Bank of Nigeria, CBN, has been asked to explain a missing $4.5 billion fund. from Nigeria’s foreign reserves between 2018 and 2019.
The query was issued by the Auditor-General of the Federation, Shaaka Chira.
According to an audit report from the Office of the Accountant General, the sum was unaccounted for in Nigeria’s foreign reserves between 2018 and 2019.
The yearly audit report provides comprehensive information about the spending and financial affairs of the various ministries, departments, and agencies under the government in a fiscal year.
According to the report, the country’s foreign reserves, which stood at US$42,594,842,852.75 in December 2018, decreased to US$38,092,720,200.72 in 2019. By a simple calculation, US$4,502,122,652.03 could not be accounted for.
