Urges reduction in cost of governance
The Civil Society Legislative Advocacy Centre, (CISLAC), has condemned the Central Bank of Nigeria (CBN) leadership, including its governor, Yemi Cardoso, for extravagant spending amid Nigeria’s economic challenges.
Recall that last week, reports have surfaced that Cardoso and his deputies, who were nominated and confirmed by the Senate in September 2023, have spent over N10 billion on ultra-modern armoured vehicles.
According to sources, Cardoso recently procured six armoured Lexus LX 600 2023 models for himself and his deputies. Insiders revealed that Cardoso personally acquired two SUVs to be used in Lagos and Abuja, despite already having armored vehicles in their convoy.
Additionally, it has been alleged that Cardoso purchased about 20 new Toyota Camry cars at the rate of N85 million each for CBN management and Board members. Further reports indicate that the governor and his deputies have significantly increased their annual housing allowances to nearly N1 billion, despite residing in official palatial residences in Maitama, Abuja.
In light of these revelations, CISLAC’s Executive Director, Auwal Musa Rafsanjani, expressed deep concern over the government’s continued extravagant spending amidst the country’s economic challenges.
In a press statement issued yesterday by CISLAC/Transparency International Nigeria, it emphasised that such expenditures are irresponsible, particularly when the nation faces severe socio-economic difficulties, including rising poverty, growing insecurity, a failing healthcare system, and an underfunded educational sector.
CISLAC criticised the reported N10 billion expenditure on luxury armored vehicles and increased housing allowances by the CBN leadership.
CISLAC’s Executive Director, Auwal Musa Rafsanjani, expressed concern over the government’s wasteful spending, calling it irresponsible given the nation’s rising poverty, insecurity, and inadequate infrastructure. He urged the government to cut unnecessary expenses, promote accountability, and invest in essential services and infrastructure.
CISLAC emphasised that public service should be about integrity, not luxury, and advocated for frugality, including using locally made vehicles.
The organisation will continue to support efforts to scrutinize budget appropriations and eliminate wasteful spending.
