Cardoso: CBN Silent Amid Allegations Of N10bn Bulletproof Cars Purchase—-The Central Bank of Nigeria (CBN) has remained silent following allegations that its Governor, Olayemi Cardoso, along with four Deputy Governors, purchased six armored luxury vehicles valued at N10 billion.

The news, which surfaced two days ago, has sparked criticism due to the ongoing economic challenges faced by many Nigerians.

The report, originally published by the Daily Nigerian on August 30, 2024, alleged that Governor Cardoso and his deputies acquired six armored Lexus LX 600 2023 models.

This purchase has raised eyebrows, especially since the officials already have SUVs as part of their convoys. Furthermore, there are allegations that these senior officials have significantly increased their housing allowances, reportedly surpassing N1 billion.

Despite the growing public concern, the CBN’s spokesperson, Sidi Hakama, has not addressed the accusations.

The bank’s official communication channels, including its X handle and website, have also remained silent on the matter.

These developments come nearly a year after Governor Cardoso’s appointment by President Bola Ahmed Tinubu on September 15, 2023.

Since assuming office, Cardoso’s administration has seen the Monetary Policy Committee implement stricter measures, including raising the interest rate to 26.75 percent in July 2024.

While Nigeria’s inflation rate showed a slight decline to 33.40 percent in July 2024 from 34.19 percent in June 2023, the prices of goods remain high. Meanwhile, the exchange rate of the Naira to the U.S. Dollar stood between N1598.56 and N1645 in the official and parallel markets, respectively, as of Friday.