The Central Bank of Nigeria (CBN) has remained silent following allegations that its Governor, Olayemi Cardoso, along with four deputy governors, purchased six state-of-the-art armored vehicles worth N10 billion, despite the economic challenges facing the country. The report, which emerged two days ago, has stirred significant public concern and debate.
Allegations
of Extravagant Spending
According
to a report by the Daily
Nigerian on August 30, 2024, Governor Cardoso and his deputies—Mr.
Philip Ikeazor, Emem Nnan Usoro, Bala Bello, and Muhammad Sani
Abdullahi—acquired six armored Lexus LX 600 vehicles from the 2023 model
lineup. The report claims that Cardoso received two of these luxury vehicles,
while each deputy governor received one. This acquisition is particularly
controversial given that the officials already have SUVs as part of their
official convoys.
The
report further alleged that the CBN governors had recently increased their
housing allowances to over N1 billion. This move has been criticized by many,
considering the current economic hardship experienced by ordinary Nigerians.
CBN's
Silence and Lack of Response
Despite
the public outcry, the CBN has not released any official statement to confirm
or deny the allegations. The bank's spokesperson, Sidi Hakama, has yet to
address the media regarding the matter. Additionally, there has been no mention
of the issue on the CBN's official social media platforms or its website, as observed
by DAILY POST
on Sunday.
Background
of Governor Cardoso's Appointment and Policy Measures
The
allegations come almost a year after Olayemi Cardoso was appointed Governor of
the CBN by President Bola Ahmed Tinubu on September 15, 2023. Since Cardoso's
appointment, the Monetary Policy Committee (MPC) under his leadership has
implemented several stringent economic measures. The most recent action was the
increase of the interest rate to 26.75 percent in July 2024, aimed at curbing
inflation and stabilizing the economy.
Despite
these measures, the inflation rate in Nigeria only showed a slight decline,
dropping to 33.40 percent in July 2024 from 34.19 percent in June 2023.
However, the reduction in inflation has not translated to a decrease in the
prices of goods and services, which remain significantly high. Additionally,
the Naira's exchange rate against the Dollar stood at N1,598.56 on the official
market and N1,645 on the parallel market as of Friday, reflecting ongoing
economic volatility.
Public Reaction
and Ongoing Concerns
The alleged purchase of luxury armored vehicles has sparked outrage among Nigerians, who view it as an extravagant expenditure, especially in the face of widespread poverty and economic hardship. Many are calling for transparency and accountability from the CBN, urging the institution to address the allegations publicly.
As the situation unfolds, Nigerians are keenly watching for any response from the CBN or the involved officials to clarify the details surrounding the alleged purchase and to provide assurances regarding the prudent use of public funds.
.png)
No comments:
Post a Comment