The Central Bank of Nigeria (CBN) has faced criticisms for its recent expenditures amounting to several billions of naira amid the economic challenges in the country.
According to reports the CBN governor, Yemi Cardoso, and his four deputies have acquired armoured vehicles and receive substantial allowances running into billions of naira, Daily Nigerian reports.
The governor allegedly purchased six armoured Lexus LX 600 vehicles at a cost of over N10 billion, with each deputy governor receiving one vehicle and the governor retaining two for use in Lagos and Abuja, Daily Nigerian further reported.
Citing insider sources, additionally, the CBN reportedly bought 20 Toyota Camry cars for management and board members worths around N84million.
The sources according to the report, claimed that the governor and deputies had increased their annual housing allowances to approximately N1 billion, despite occupying official residences in Abuja.
Furthermore, they have allegedly upgraded their international travel privileges to first class and receive a nightly allowance of $7,000 for foreign trips.
SaharaReporters reports that Cardoso and the banks deputy governors’ namely Emem Usoro, Philip Ikeazor, Bala Bello and Sani Abdullahi, were nominated and confirmed by the Senate in September 2023.
The bank’s spending has raised questions about its priorities during a time of economic hardship in Nigeria, in which an average Nigerian cannot afford two square meals in a day.
Meanwhile, checks on the price of Lexus LX 600 on 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 organisations 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
Meanwhile, SaharaReporters’ efforts to speak with the spokesperson of the CBN, Hakama Sidi-Ali, were unsuccessful as he neither answered his calls nor respond to a text message both SMS and WhatsApp as of the time of filing this report.
