As Nigerians continue to grapple with severe economic challenges, including rising inflation and widespread poverty, a recent report has revealed that the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, along with his four deputies, has made an extravagant purchase of bulletproof SUVs valued at over N10 billion. This development has sparked widespread outrage and criticism across the nation.
According to sources from Daily Nigerian, the CBN officials, despite the prevailing economic difficulties faced by many Nigerians, have been indulging in luxury, acquiring state-of-the-art armored vehicles and significantly increasing their allowances. The vehicles in question are six Lexus LX 600 2023 models, armored for enhanced security, with two allocated for Governor Cardoso's use in Lagos and Abuja, while each of the four deputy governors—Emem Usoro, Philip Ikeazor, Bala Bello, and Sani Abdullahi—received one each.
This acquisition is particularly controversial given that these officials already had armored vehicles in their convoys prior to this purchase. The additional vehicles have raised questions about the necessity and timing of such a lavish expenditure.
Moreover, reports have surfaced that around 20 Toyota Camry cars, each costing approximately N85 million, were also purchased for CBN management and board members. This is seen as another example of excessive spending within the institution.
In a move that has further fueled public anger, it is alleged that Governor Cardoso and his deputies have significantly increased their annual housing allowances to about N1 billion, despite residing in official government-provided residences in the upscale Maitama area of Abuja. This increase comes at a time when many Nigerians are struggling to afford basic necessities such as food and housing.
The lavish spending doesn’t stop there. Reports also indicate that these officials have upgraded their international travel perks from business class to first class, with the cost of a first-class ticket from Abuja to New York currently standing at around $15,000. Additionally, their foreign travel allowances have reportedly been increased, with each official now receiving $7,000 per night during international trips.
This news has sparked outrage among citizens, who view these expenditures as insensitive and out of touch with the reality of the average Nigerian. The country is currently experiencing one of its worst economic periods, with high unemployment rates, a weak naira, and increasing costs of living.
Nigerians are calling for transparency and accountability from the CBN officials, urging them to reconsider their spending habits in light of the economic struggles faced by millions of citizens. The lavish lifestyle of public officials, particularly during such a challenging time, has become a point of contention, raising questions about the priorities and governance within the Central Bank.
