NEWS
CBN Silence on Alleged N10 Billion Vehicle, Allowances Scandals Questionable -Group

From Jude Dangwam, Jos
Youth group has expressed concerns over the silence of the leadership of the Central Bank of Nigeria (CBN) over allegations of gross misconduct, extravagant spending, and alleged abuse of power with the recent purchase of six armored Lexus LX 600 vehicles worth a staggering N10 billion which the bank already have.
The North Central Coordinator of the Conference of Autochthonous Ethnic Communities Development Association (CONECDA) Youth Wing, Comrade Paul Joshua Dekete made the outcry while speaking with Journalists in Jos the Plateau State capital.
According to Dekete, “It has become duty bound on us to address this press conference having keenly followed trend of activities at the country’s Apex Bank in recent times.
“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.” He stated
He pointed that the controversy on extravagant spending amid economic hardship is said 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” is disturbing .
“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. The public is left questioning why such an extravagant purchase was necessary when the bank already had these resources?
“This lavish spending is compounded by allegations that the officials have inflated their annual housing allowances to over N1 billion each, despite already living in luxurious official residences. ” Dekete expressed worried
He reiterated that the actions at the Apex Bank only 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 lamented bitterly
The regional Coordinator recalled that the same scandal was recently witnessed by the sacking of over 300 CBN employees, including directors from 50% of its departments now being managed by acting directors who report directly to the accused officials.
“This wave of terminations has sparked outrage, with over 100 of the dismissed staff taking their grievances to the National Industrial Court pressing demands and damages running into billions of naira.
“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.
For Dekete, the lack of response from the CBN raises critical questions about governance within one of the country’s most important federal institutions.
“How can the public have confidence in the CBN’s ability to manage the economy when its leaders are accused of such flagrant misuse of resources? More importantly, why is the CBN refusing to engage with the public on these issues? Nigerians deserve transparency, especially from an institution as vital as the CBN.
“The allegations against Governor Cardoso and his deputies strike at the heart of the bank’s integrity. If these claims are unfounded, the CBN must categorically refute them and provide evidence to the contrary. If there is truth to these allegations, the bank’s leadership must be held accountable for their actions.
“The CBN’s ongoing silence does more than just raise suspicions; it undermines the institution’s credibility at a time when Nigeria can least afford it. The economy is in shambles, with ordinary citizens bearing the brunt of the downturn. The public needs assurance that those in charge of managing the nation’s finances are acting with integrity and in the best interests of the country.
“As Nigerians continue to feel the effects of rising prices and a devalued currency, the actions or inactions of the CBN’s leadership will be closely scrutinized. The public deserves to know what is happening within the CBN, and they deserve leaders who are transparent and accountable. Silence, in this case is not just ungolden, but represents a flagrant and offensive disregard for public trust.” He emphasized
The Coordinator called on the National Assembly to investigate the trend of events at the CBN while calling on President Bola Ahmed Tinubu to as a matter of urgency give attention to the happenings at the CBN which is aimed at rubbishing his administration by some few elements within the Bank.
NEWS
FG Imposes 7-year Ban on New Federal Tertiary Institutions

The Federal Executive Council (FEC) has approved a seven-year moratorium on the establishment of new federal tertiary institutions.
Dr Tunji Alausa, Minister of Education announced the approval, after Wednesday’s FEC meeting, presided over by President Bola Tinubu at the Presidential Villa, Abuja.
He explained the ban applies to all federal universities, polytechnics, and colleges of education.
According to Alausa, the decision aims to address systemic decay caused by unregulated expansion.
”What we are witnessing today is duplication of new federal tertiary institutions, a significant reduction in the current capacity of each institution, and degradation of both physical infrastructure and manpower.
”“If we do not act decisively, it will lead to marked declines in educational quality and undermine the international respect that Nigerian graduates command.”
“We are doing this to further halt decays in tertiary institutions which may in future affect the quality of education and consequently cause unemployment of graduates from some of these institutions.”
Alausa noted Nigeria currently has 72 federal universities, 108 state universities, and 159 private universities with similar trends in polytechnics and colleges of education.
He pointed to a growing mismatch between the number of institutions and available student enrollment.
He cited a northern university with fewer than 800 students but over 1,200 staff, calling it unsustainable.
The minister described the moratorium as a bold corrective measure by the Tinubu administration.
He said the government would now focus on upgrading existing institutions, improving infrastructure, boosting manpower, and increasing capacity.
“We need to improve the quality of our education system and increase the carrying capacity of our current institutions so that Nigerian graduates can maintain and enhance the respect they enjoy globally.”
The minister however announced that the Council approved 9 new private universities out of the 79 active requests pending applications.
”Several of these applications have been in the pipeline for over six years, with investors having already built campuses and invested billions of Naira,” he explained.
“Due to inefficiencies within the NUC, approvals were delayed. We have since introduced reforms to streamline these processes, and today’s approvals are a result of clearing this backlog.”
(NAN)
Foreign News
CAF Sanctions Kenya Again over Crowd Trouble

The Confederation of African Football (CAF) has sanctioned African Nations Championship (CHAN) co-host, Kenya, for the second time in as many weeks over security breaches.
In a statement made available on Monday evening, the continental governing body said that it has limited entry to the 48,000-seat Moi International Sports Centre.
It also said that, known as Kasarani Stadium, can accommodate 27,000 fans for Sunday’s Group A match between Kenya and Zambia.
CAF said only electronic ticket holders would be allowed into the stadium, with thermal tickets prohibited.
The governing body warned that Kenya’s matches could be relocated from Kasarani Stadium if organisers fail to prevent further breaches.
“We trust these measures will be applied swiftly to protect competition’s integrity, ensure fan safety, and uphold confidence in Kenya’s commitment to the tournament,” CAF said.
The sanctions follow incidents on Aug. 10 when Kenya defeated two-time winner Morocco 1-0 in spite of playing the entire second half with 10 men.
The win put Kenya top of Group A with seven points.
The debutants would reach the quarterfinals with at least a draw against winless Zambia.
Last week, Kenya’s football federation was fined nearly 20,000 U.S. dollars for security lapses during the team’s 1-0 win over DR Congo in the tournament opener on Aug. 3.
In the latest case, CAF cited major lapses, including stadium gates and restricted service areas being overrun by ticketless spectators and holders of government-distributed physical tickets.
It also accused security personnel of losing control at exit points and allowing breaches of the perimeter fence that enabled thousands of ticketless fans to enter.
CAF had expressed alarm over the use of tear gas and flash grenades, reports of live ammunition fired near spectators and staff, and violent incidents such as stone-throwing at security personnel.
It also cited unsafe vehicle movement in spectator areas, inadequate police response, and the lack of medical incident reports in spite of injuries being reported.
Organisers were further criticised for insufficient communication tools and the absence of CCTV coverage at critical entry points.
Education
Varsity Don Advocates Establishment of National Bureau for Ethnic Relations, Inter-Group Unity

By David Torough, Abuja
A university scholar, Prof. Uji Wilfred of the Department of History and International Studies, Federal University of Lafia, has called on the Federal Government to establish a National Bureau for Ethnic Relations to strengthen inter-group unity and address the deep-seated ethnic tensions in Nigeria, particularly in the North Central region.
Prof.
Wilfred, in a paper drawing from years of research, argued that the six states of the North Central—Kwara, Niger, Kogi, Benue, Plateau, and Nasarawa share long-standing historical, cultural, and economic ties that have been eroded by arbitrary state boundaries and ethnic politics.According to him, pre-colonial North Central Nigeria was home to a rich mix of ethnic groups—including Nupe, Gwari, Gbagi, Eggon, Igala, Idoma, Jukun, Alago, Tiv, Birom, Tarok, Angas, among others, who coexisted through indigenous peace mechanisms.
These communities, he noted, were amalgamated by British colonial authorities under the Northern Region, first headquartered in Lokoja before being moved to Kaduna.
He stressed that state creation, which was intended to promote minority inclusion, has in some cases fueled exclusionary politics and ethnic tensions. “It is historically misleading,” Wilfred stated, “to regard certain ethnic nationalities as mere tenant settlers in states where they have deep indigenous roots.”
The don warned that such narratives have been exploited by political elites for land grabbing, ethnic cleansing, and violent conflicts, undermining security in the sub-region.
He likened Nigeria’s ethnic question to America’s historic “race question” and urged the adoption of structures similar to the Freedmen’s Bureau, which addressed racial inequality in post-emancipation America through affirmative action and equitable representation.
Wilfred acknowledged the recent creation of the North Central Development Commission by President Bola Tinubu as a step in the right direction, but said its mandate may not be sufficient to address ethnic relations.
He urged the federal government to either expand the commission’s role or create a dedicated Bureau for Ethnic Relations in all six geo-political zones to foster reconciliation, equality, and sustainable development.
Quoting African-American scholar W.E.B. Du Bois, Prof. Wilfred concluded that the challenge of Nigeria in the 21st century is fundamentally one of ethnic relations, which must be addressed with deliberate policies for unity and integration.