By Pwanagba Agabus, Jos
The Youth Wing of Conference of Autochthonous Ethnic Communities Development Association (CONECDA) has called on the management of the Central Bank of Nigeria CBN, to come out clear the recent allegations of misconduct in the organisation.
Recall that the Apex Bank recently sacked over 100 of its staff allegedly without recourse to due process and the matter is being challenged at the National Industrial court, by the affected staff.
CONECDA stated this through the North Central Coordinator of its Youth Wing, Comrade Paul Joshua Dekete, while briefing journalists in Jos the Plateau State Capital.
He said, “It is a known fact that Nigeria grapples with a worsening economic crisis marked by the soaring inflation and a depreciating naira and the Central Bank of Nigeria (CBN) is facing a scandal that has only heightened public anxiety.
“Allegations of gross misconduct, extravagant spending, and abuse of power have been leveled against the CBN’s top leadership, yet the institution’s ongoing silence on these matters is perhaps the most troubling aspect of all.
“The controversy on extravagant spending amid economic hardship centers around CBN Governor Olayemi Michael Cardoso and his four deputy governors; Philip Ikeazor, Emem Nnan Usoro, Bala Bello, and Muhammad Sani Abdullahi who are accused of authorizing the purchase of six armored Lexus LX 600 vehicles worth a staggering N10 billion.
“The shocking aspect of this expenditure is not just the amount but the fact that the CBN already had similar armored vehicles in its fleet, used by the previous administration.”
According to him, “These actions paint a picture of a leadership disconnected from the harsh realities facing everyday Nigerians, who are struggling under the weight of an increasingly tough economy.
“The scandal does not stop at luxury vehicles and inflated housing allowances. It has been reported that Governor Cardoso and his deputies have upgraded their international travel from business class to first class, at a time when the Nigerian economy is struggling.
“The cost of a first-class ticket to destinations like New York, exceeding $15,000, has become the standard for these officials. Additionally, their foreign travel allowances, or estacodes, have been increased to over $7,000 per night, allowing them to pocket more than $50,000 during a week-long trip, excluding other perks like entertainment and extra baggage allowances”, he explained.
Dekete further stated that, “The scandal also extends to the recent sacking of over 300 CBN employees, including directors from 50% of its departments.
“These departments are now being managed by acting directors who report directly to the accused officials, likely in hopes of securing permanent positions. This wave of terminations has sparked outrage, with over 100 of the dismissed staff taking their grievances to the National Industrial Court.
“They are demanding billions in compensation, arguing that their appointments were terminated without due process, in direct violation of the CBN’s Human Resource manual and the Central Bank of Nigeria Act of 2007.
“The dismissal of these staff members without due regard to the law that establishes the CBN, as well as the bank’s own Human Resource policies, raises serious concerns about the institution’s commitment to corporate governance.
“Despite the gravity of these allegations, the CBN has remained conspicuously silent. Days after the initial reports surfaced, the bank has offered no official statement, neither confirming nor denying the accusations, there has been no communication on the CBN’s official channels.
“This silence is not just disappointing it is deeply troubling.
“In the face of such serious accusations, the CBN’s refusal to address the public suggests a troubling disregard for accountability and transparency.
“For many Nigerians, the CBN’s silence may be interpreted as an implicit admission of guilt, further eroding trust in an institution that plays a crucial role in the nation’s economic stability.
“As Nigerians continue to feel the effects of rising prices and a devalued currency, the actions or inactions of the CBN’s leadership”, he stressed.
