- The Governor of the Central Bank of Nigeria and his deputies have allegedly gotten SUVs worth over N10 billion
- They also increased their travel privileges, travel allowance and housing allowance
- Nigerians react, some in disbelief, others ask for an explanation
Many Nigerians have expressed outrage at the blatant show of extravagance of the governor of the Central Bank of Nigeria, Yemi Cardoso, and his deputies, who allegedly purchased luxury vehicles worth N10 billion amid hardship and hunger among the masses.
It all started when the news broke out on social media that the CBN governor and his four deputies had allegedly acquired bulletproof Sports Utility Vehicles (SUVs) worth over N10 billion.
Nigerians took to social media to react to the news. Many were in disbelief and others speculated that the government must have sponsored the recent tribalism issues to distract Nigerians from their extravagant spending.
According to reports by Daily Nigerian and Within Nigeria, the apex bank officials have purchased luxury vehicles and are enjoying a significant increase in their allowances as many Nigerians grapple with hunger and inflation.
Governor Cardoso reportedly purchased six bulletproof Lexus LX 600 2023 models worth over N10 billion for himself and four deputies; Emem Usoro, Bala Bello, Sani Abdullahi and Philip Ikeazor.
Reports also have it that the CBN governor and his deputies significantly increased their housing allowance to approximately N1 billion although they reside in official residences.
The officials also increased their international travel privileges from business class to first class and their travel allowances have also been allegedly increased to $7,000 per night.
Meanwhile, it was also reported that 20 Toyota Camry cars worth N85 million each, were purchased for the CBN management and board members.
Nigerians react to CBN governor’s extravagance
Nigerians have expressed their anger at the news and have demanded an explanation from the CBN governor regarding the matter. While some Nigerians have expressed disbelieve at the news, others are not surprised at the extravagance of the current administration despite the hardship Nigerians face.
Here are some of the comments:
@AfamDeluxo posted: “This is why the are pumping money to distract Nigerians with tribalism while Bola Tinubu and his Lagos cartel loot Nigeria silly.”
@DiceOfTruth posted: “The "no government could have done better" crew, please come and carry your SUVs to share rice to your uncle and aunties. Wicked bunch of greedy bastards.”
@Dande_abdulaziz posted: “They keep saying Nigeria is poor so where are the monies coming from? High ranking government officials welfare is always increasing meanwhile noting for the citizens.”
@starleeon_ posted: “Let me announce to you that we have a leadership problem. At a time like this, when we should be cutting costs, they instead prioritize acquiring vehicles.”
@kingkhone4real posted: “They are cutting cost.”
@pdauda posted: “I mean if Oga can buy a jet, then surely they can spend small N10B here and there to buy SUVs? Wait for progressive clowns to chime in and say the cars will help them fight inflation and carry out effective monetary policy for the nation.”
@Omaba20 posted: “That's it. Collect from the poor and lavish on themselves. That is why till date I still believe there's no rationale behind subsidy removal and floating of dollars.”
@Saifull74385178 posted: “This people are thiefs.”
@Lewislewi2 posted: “These are the same people that asked Nigerians to patronize made in Nigeria product. They are the same people that ask marketers to reduce process of good within one month. They failed to assured Nigerians FG will reduce exchange rate to $1=N400 in next 30 days.”
@Ihekante posted: “While the poor voters are assured that things will get better after fixing some economic glitches caused by Buhari.”
@JeffOlisa042 posted: “@cenbank this cannot be true. Tell me this one of those fake news, otherwise you guys are just unconscionably heartless…”
@PetersTersoo posted: “They don't care about the ordinary Nigerian's plight. Y'all will just hv to keep lamenting while tinuboo and his cryminal-geng continue the looting and globetrotting, in grand style…”
@Nackson147 posted: “Government of snatch it, grab it and run away with. Everybody is grabbing it and running away with it. They use tribalism to destabilize the citizens, they grab and run away with the money while citizens are fighting themselves.”
Has your bank account been dormant for 10 years? CBN may take away your money to invest it
Meanwhile, TheRadar earlier reported that the Central Bank of Nigeria (CBN) directed all banks and other financial institutions to transfer all dormant accounts, unclaimed balances and other financial assets that have been dormant for at least 10 years to the CBN.
The CBN disclosed this in a circular released signed by its acting Director of the Financial Policy and Banking Regulation Department, John Onojah, on Friday, July 19, titled, ‘Guidelines on Management of Dormant Accounts, Unclaimed Balances and Other Financial Assets in Banks and Other Financial Institutions in Nigeria.’