CISLAC slams CBN leadership for extravagant spending, calls for cost-cutting measures
The Civil Society Legislative Advocacy Centre (CISLAC) has expressed strong condemnation over the lavish spending by the leadership of the Central Bank of Nigeria (CBN), particularly targeting the governor, Yemi Cardoso, and his four deputies.
Amid Nigeria’s ongoing struggles with hunger, economic hardship, and rising inflation, CISLAC is renewing its urgent call for the reduction of governance costs and greater accountability in the management of public funds.
In a statement issued on Sunday, Auwal Musa Rafsanjani, the Executive Director of CISLAC/Transparency International Nigeria, revealed that the CBN leadership has reportedly spent over N10 billion on luxury armoured vehicles, including six Lexus LX 600 2023 models and 20 new Toyota Camry cars for CBN management. These expenditures come at a time when Nigeria faces significant socio-economic challenges, such as escalating poverty, insecurity, and a failing healthcare system.
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Rafsanjani criticised the government’s reckless spending, stressing that public funds should be used to address the country’s pressing needs rather than being squandered on unnecessary luxuries. He emphasized the need for frugality and discipline in public service, urging a return to practices that prioritise the welfare of the nation over personal comfort.
CISLAC also advocated for the promotion of locally made vehicles and the elimination of inflated contracts, which have exacerbated Nigeria’s economic woes. The organization vowed to support efforts to scrutinise budget appropriations to eliminate wasteful spending and ensure that public funds are used responsibly.
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