The Central Bank of Nigeria (CBN) leadership, led by Governor Olayemi Michael Cardoso, is facing intense scrutiny over allegations of breaching official protocols and abusing office privileges.
In a scenario reminiscent of the investigation led by Jim Obazee, a special investigator hired by the federal government to uncover Emefiele’s activities while in office, multiple credible sources within the bank have now raised severe allegations against Governor Cardoso and his four deputy governors.
They are accusing the leadership under Cardoso of infractions that indicate weak systemic controls.
Whistleblowers within the bank have raised concerns about the upgrade of annual housing allowances to nearly N1 billion each for the governor and his deputies, who already reside in luxurious residences. Additionally, international travel privileges have been upgraded to first class, with travel allowances allegedly increased to $7,000 per night.
The bank is accused of hiring consultants at exorbitant rates, with one media consultant reportedly earning N30 million per month. Moreover, non-competitive and secretive hiring practices have led to the dismissal of hundreds of staff without due process, replaced by new hires through covert means.
The Procurement and Supply Services department has allegedly undermined the Human Resources department, leading to tension and suspicion among staff.
The allegations against Governor Cardoso and his deputies have raised severe questions about their leadership and commitment to modesty, with sources calling for justification for such excessive indulgence.
