Waste of Resources: Senior Management of Nigeria’s Central Bank travel to South Africa for ‘Unnecessary’ Trip


SaharaReporters has learnt that the senior management of the Central Bank of Nigeria (CBN) is on an expensive week-long executive retreat in South Africa, in continuation of the Jonathan administration’s declared public resolve to cut costs and keep expenditure to the barest minimum that is routinely laughed at in practice.

Our source within the CBN said today that the retreat was scheduled to begin last Monday, June 25, and end on Friday, June 29, 2012.

“Our group also believes that there are more than enough venues in Nigeria which can provide the necessary environment for business retreats in a serene environment,” said the source. “Nigeria, despite the current upheavals still possesses tourist spots which can accommodate such business retreats.”

He expressed disappointment that an organization with the profile of the CBN, which is expected to lead the cause of fiscal responsibility and prudence in public expenditure, would choose this path. “We hasten to add that the CBN is not alone in this practice – other Ministries, Departments and Agencies send staff abroad for the most mundane of reasons.”

Following the nationwide street demonstrations against the government’s hike of fuel prices in January, President Jonathan pledged to cut down on the size of his government, and review its lavish expenditures.

But he has failed to do so, repeatedly traveling with extensive delegations to various destinations. Last week, he was in Brazil with 116 people. He is currently in Belgium at a non-descript Customs conference with another large group of officials and estacode-hunters.

His wife, Patience Jonathan, Mrs. Jonathan will leave Brussels for the United States with a whopping 36 aides to attend another inconsequential jamboree for African First Ladies organized by an unknown group.

Under the governorship of Mr. Lamido Sanusi, the CBN has lately become controversial. A few months ago, it abruptly donated N100 million to Kano, Sanusi’s hometown, following an attack upon the city by Muslim militants.

Two weeks ago, the governor walked into the Bank for work in the morning in an impractical chieftaincy garb of the Dan Majen of Kano, following his installation a few days before.

“The cost of the [CBN Senior Management] so-called retreat to the Nigerian taxpayer must be immense,” our source said.

Culled from a news website based in New York, Sahara Reporters

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