In an unfolding scandal at the Central Bank of Nigeria (CBN), outrage brews among senior staff as consultants hired by Governor Olayemi Cardoso allegedly earn exorbitant monthly salaries while wielding significant influence within the institution. The controversy centers around two consultants, Nkiru Balonwu and Daphne Dafinone, who have been nicknamed the “Cardoso women.”...CLICK HERE TO CONTINUE READING.>>
Appointed without clear terms of reference or a competitive hiring process, these consultants reportedly pocket N50 million and N35 million monthly, respectively, figures that surpass the salaries of the governor, deputy governors, and the combined pay of numerous directors. Their presence has ignited debates about their roles and the necessity of their high compensation, especially given the bank’s existing 29 departments and a robust talent pool comprising over 400 PhD holders.
Thank you for reading this post, don't forget to subscribe!Balonwu, founder of The Africa Soft Power Group, was controversially appointed as a corporate communication consultant despite the CBN’s well-staffed communications department. Dafinone, a chartered accountant, has taken on various responsibilities, including overseeing a contentious early retirement program for 1,000 staff members, bypassing the bank’s HR protocols.
Adding to the controversy, Dafinone faces legal troubles, with a court case pending over an alleged N100 million fraud related to a property transaction. Despite this, she was appointed by Cardoso to the board of NIRSAL, a CBN-affiliated institution, raising further questions about governance standards.
Staff members express dissatisfaction, citing the consultants’ undue influence, as they reportedly issue directives and occupy offices on the eleventh floor, above those of the deputy governors. “These women are the real people running the CBN,” lamented one director, highlighting the extent of their power.
The appointments appear to contravene Nigeria’s Public Procurement Act 2007, which mandates transparent hiring processes for consultants. This has sparked discussions about accountability and the misuse of public funds.
As the scandal unfolds, efforts to reach Cardoso and the consultants for comment have been unsuccessful. The situation continues to draw significant attention, with many calling for a reevaluation of the consultants’ roles and remuneration.
Stay tuned to 9jalead Official Nigeria for further updates on this developing story.
