As Nigeria struggles with economic hardship and inflation, Central Bank of Nigeria (CBN) Governor Yemi Cardoso and his four deputies have reportedly acquired bulletproof SUVs worth over N10 billion.

According to Daily Nigerian, the CBN officials have been spending extravagantly, including the purchase of ultra-modern armoured vehicles and an increase in their allowances, even as many Nigerians struggle with hunger, hardship, and inflation.

It is reported that Governor Cardoso recently procured six armoured Lexus LX 600 2023 models for himself and the four deputy governors—Emem Usoro, Philip Ikeazor, Bala Bello, and Sani Abdullahi—at a cost exceeding N10 billion.

Cardoso secured two SUVs for his personal use in Lagos and Abuja, while the other four deputies received one.

Furthermore, sources indicate that the officials already had armoured vehicles in their convoys before acquiring the new ones.

Additionally, it is claimed that about 20 Toyota Camry cars, each costing approximately N85 million, were purchased for CBN management and board members.

Reports also allege that the CBN governor and his deputies have significantly increased their annual housing allowances to around N1 billion, despite residing in official residences in Maitama, Abuja.

Moreover, they have reportedly upgraded their international travel privileges from business class to first class, with the cost of a first-class ticket from Abuja to New York currently around $15,000.

Their foreign travel allowances have also allegedly been increased, with each official reportedly receiving $7,000 per night during foreign trips.