CBN Leadership Faces Criticism Amid Reports of Lavish Spending on Armored SUVs and Hefty Allowances

As the nation groans under hunger, hardship and inflation, the governor of the Central Bank, CBN, Yemi Cardoso, and his four deputies are lavishing in abundance, purchasing ulta-modern armored vehicles and smiling home with jumbo allowances.

The CBN governor and his deputies were nominated and confirmed by the Senate in September 2023.

Insiders said each of the apex bank’s deputy governors — Emem Usoro, Philip Ikeazor, Bala Bello and Sani Abdullahi — has taken delivery of one of the armored SUVs.

Sources however said the apex bank governor got two SUVs, to be used in Lagos and Abuja.

Insiders further alleged that Mr Cardoso also bought about 20 latest Toyota Camry cars at the rate of N85m for the CBN management and the board members.

The jumbo allowances of the CBN governor, deputies

CBN insiders revealed that the governor and his deputies have allegedly jacked up their annual housing allowances to about a staggering 1 billion naira despite occupying official palatial residences in Maitama, Abuja.

According to the sources, they upgraded their international travel privileges from business class to first class at a time a first class ticket from Abuja to New York costs about 15,000 dollars.The insiders said the governor and his deputies have also upgraded their foreign travel allowances, pocketing 7,000 dollars a night for a foreign trip.

Attempts to get reaction from the CBN spokesperson Hakama Sidi-Ali were unsuccessful as she neither responded to call nor SMS sent to her phone number.

How much is Lexus LX 600?

According to www.fox7austin.com, the full-size LX 600 is based on the latest Toyota Land Cruiser, which is a favorite of government agencies and aid organizations operating in hostile areas.

“The LX 600 is aimed more at the rich and famous looking for protection and includes a host of features that turn their trucks into luxurious bunkers.

“The vehicle has been fully armored to take shots from a 7.62mm rifle and has been certified to be able to withstand simultaneous blasts from two hand grenades.

“Along with the ballistic bodywork and glass, the vehicle is equipped with protection for its engine, cargo area and fuel tank. It rides on a beefed-up suspension to handle the extra weight and run-flat tires to keep it moving under all circumstances,” the website said.

Options include a siren, fire suppression system, night vision cameras and escape hatches in case it is rolled or otherwise disabled.

According to the experts, the standard LX 600, with its 409 hp turbocharged V6 and 4×4 drivetrain, starts at $88,245, while the armored versions cost well over $200,000, depending on the configuration.