The Central Bank of Nigeria (CBN) has denied approving or authorising the release of $46 billion to a private organisation for empowerment and development projects, dismissing a document circulating online as fake.
The purported approval, dated 13 August 2026 and allegedly issued from the CBN Governor’s Office in Abuja, claimed that Governor Yemi Cardoso had approved a $46 billion developmental grant to the ATUFEG Empowerment and Development Center.
The document, referenced as GOV/END/2026/00050, claimed that the apex bank had authorised the immediate transfer of the funds to the beneficiary’s designated account, stating that “The CBN confirms full endorsement and authorises the immediate transfer of these funds to the beneficiary’s designated account for utilisation according to the stipulated mandate.”
It further stated that the purported approval was final and binding and bore the name and purported endorsement of the CBN governor.
However, the CBN, in a post on its official X handle, disowned the document, saying it did not issue any such approval or authorisation.
The purported grant document listed ATUFEG Empowerment and Development Center as the beneficiary and included personal and banking-related identification details, while claiming that the $46 billion would be used to execute “approved national empowerment and development projects.”
The document also claimed that the funds had been endorsed for immediate transfer, but the CBN said the purported approval was not genuine.
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