The Central Bank of Nigeria (CBN) has been criticized for spending billions of naira recently, especially given the country’s economic difficulties.
According to Daily Nigerian reports, the CBN governor, Yemi Cardoso, and his four deputies have acquired armoured vehicles and received substantial allowances running into billions of naira.
The CBN 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.
According to insider sources, the CBN allegedly purchased 20 Toyota Camry cars for management and board members, costing around N84 million.
The report also indicates that the governor and deputies have raised their annual housing allowances to about N1 billion, even though they live in official residences in Abuja.
Additionally, they have reportedly upgraded their international travel perks to first class, with a nightly allowance of $7,000 for overseas 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 the vehicle rolls over or becomes otherwise disabled.
Experts note that the standard LX 600, equipped with a 409 hp turbocharged V6 engine and 4×4 drivetrain, starts at $88,245. However, armored versions can cost well over $200,000, depending on the configuration.
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