Despite Economic Hardship, CBN Governor, Deputies Acquire Billion-Naira Bulletproof Cars

Amid ongoing economic challenges faced by many Nigerians, the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, and his four deputies have purchased an ultra-modern armoured vehicle and awarded themselves hefty allowances, according to a report by DAILY NIGERIAN.

According to the report, Cardoso procured six armoured Lexus LX 600 2023 models for himself and his deputies at a staggering cost exceeding N10 billion.

Sources within the CBN revealed that each of the apex bank’s deputy governors—Emem Usoro, Philip Ikeazor, Bala Bello, and Sani Abdullahi—has delivered one of the armoured SUVs. At the same time, Cardoso acquired two for use in Lagos and Abuja.

This purchase comes even though the CBN governor and his deputies already had armoured vehicles in their convoy.

Additionally, Cardoso reportedly purchased about 20 of the latest Toyota Camry cars at N85 million each for other CBN management and board members.

Beyond the luxury vehicles, the insiders disclosed that the governor and his deputies have significantly increased their annual housing allowances to nearly 1 billion naira despite residing in official, palatial residences in the upscale Maitama district of Abuja.

Furthermore, they have allegedly upgraded their international travel privileges from business class to first class, with a ticket from Abuja to New York costing approximately $15,000.

The foreign travel allowances have also been inflated, with the CBN officials allegedly pocketing $7,000 per night during foreign trips.

While the CBN is yet to respond to these allegations, this revelation follows other recent reports of government spending amidst national economic hardships.

Recently, it was reported that President Bola Tinubu acquired new presidential jets without disclosure of the total price, which has led to widespread criticism.

Additionally, the Vice President’s official residence in Abuja was renovated with 21 billion naira, sparking further debate on government spending priorities.

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