As Nigeria grapples with economic challenges and inflation, Central Bank of Nigeria (CBN) Governor Yemi Cardoso and his four deputies have reportedly splurged over N10 billion on bulletproof SUVs. According to Daily Nigerian, the CBN officials have been indulging in extravagant spending, including the purchase of ultra-modern armoured vehicles and a significant increase in their allowances.

Governor Cardoso allegedly acquired six armoured Lexus LX 600 2023 models, valued at over N10 billion, for himself and his deputies – Emem Usoro, Philip Ikeazor, Bala Bello, and Sani Abdullahi.

Each deputy received one SUV, while Cardoso secured two for his personal use in Lagos and Abuja. Notably, the officials already had armoured vehicles in their convoys before acquiring the new ones.

Furthermore, sources reveal that approximately 20 Toyota Camry cars, costing around N85 million each, were purchased for CBN management and board members. The CBN governor and his deputies have also reportedly increased their annual housing allowances to around N1 billion, despite residing in official residences in Maitama, Abuja.

Additionally, they have allegedly upgraded their international travel privileges from business class to first class, with a first-class ticket from Abuja to New York costing around $15,000. Their foreign travel allowances have also been increased, with each official reportedly receiving $7,000 per night during foreign trips.”