… Govt’s attitude to security is mind boggling, as insecurity is on the increase in the six (6) geopolitical zones of Nigeria

The Central Bank of Nigeria has kept mum two days after allegations that its Governor, Olayemi Cardoso and four deputy Governors reportedly acquired six ultra-modern luxury vehicles worth 10 billion naira.

According to reports gaining grounds, Mr. CARDOSO and deputy governors, Mr. Philip Ikeazor, Emem Usoro, Bala Bello, and Muhammad Sani Abdullahi purchased six armoured Lexus LX 600 2023.

Reacting to the reports on Diamond FM’s flagship programme- Diamond Breakfast Show today (Monday, 2nd of September, 2024), Mr. Lawal Olanrewaju, a Public Expenditure Tracking Expert with BudgIT Foundation, condemned the said expenditure by principals of the CBN and added that their silence means the purchase was made already.

In his words: “things like this have the tendency of fueling tension and heating-up the polity. People can barely feed, and because you’re privileged to be appointed as a CBN Governor, you go on extravagant spending. It is uncalled for, they’ve done the procurement and even if you say they should return the cars, you cannot get the full value of the monies expended.

The fact that the cars were imported is enough ills for our ailing economy” he added

According to him, the frivolous spending by public office holders is inimical to Nigeria’s economy, advising that public funds be used for the benefit of the citizens.

On the issue of the trending videos showing Bandit Kingpin Bello Turji and his gang gyrating after taking over a Nigerian Army Armoured Personnel Carrier, Mr. Olarewaju said the government needs to be more proactive about fighting insurgency, as according to him the six geopolitical zones of Nigeria is gravely affected by insecurity.

‘’Insecurity, especially with the issue of bandits, kidnappers was largely restricted to over six local government in a particular geopolitical zone, and insurgency has spread to practically all the geo-political zones we have in Nigeria in less than a decade, what that tells us is either the government is highly incompetent in tackling this or they have a hand in it and however two truths can co-exist’’ Lawal maintained.

However, a statement from the Defence headquarters on Monday refuted the claims in the viral video, noting that the two Mines Resistant Armored Personnel Carriers displayed by the terrorists, were demobilized by troops to ensure they are useless.