The Central Bank of Nigeria (CBN) is facing controversy after allegations surfaced that its Governor, Yemi Cardoso, and his four deputies purchased six armored vehicles worth over N10 billion. This news comes at a time when Nigeria is struggling with economic hardship and inflation.
According to reports, the CBN governor and his deputies, who were appointed by President Bola Ahmed Tinubu in September 2023, procured the luxury vehicles despite already having armored vehicles in their convoy. This has raised questions about the bank’s leadership and their priorities amidst the country’s economic challenges.
Furthermore, sources have alleged that the governor and his deputies have increased their annual housing allowances to about N1 billion, despite occupying official residences in Abuja. They have also been accused of upgrading their international travel privileges from business class to first-class, with a single first-class ticket from Abuja to New York costing around $15,000.
The CBN has yet to confirm or deny these allegations, and the spokesperson for the bank, Hakama Sidi-Ali, has not responded to calls or messages. This situation has sparked outrage and calls for accountability amidst the country’s economic woes.
