Breaking: CBN: Emefiele Earns More Than Buhari

The chairman of the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, Mohammed Bello Shehu has disclosed that the salary of the Central Bank of Nigeria, CBN Governor is bigger than that of the president of Nigeria.

The RMFAC boss spoke in light of the recent backlash it received from Nigerians following its decision to review upward the salaries of the president, vice president, Senate President, Speaker of the House of Representatives, and the Chief Justice of the federation, CJN.

Responding to the planned increase, for instance, the Inter-party Advisory Council, IPAC, and Civil Society Organisations, CSOs, said the decision came at the wrong time.

Also, Transparency International, TI, the Civil Society Legislative Advocacy Centre, CISLAC, and the Transition Monitoring Group, TMG, said it was absurd to increase the salaries of these officials who are already earning bogus pay packages at the time the country is going through a serious economic crisis.

The CSOs stated: “It is not timely. They have a huge amount of money they are taking. We need to reduce it. The president, Vice President, Senate President Speaker, and other judicial officers, have a huge amount of money as salary with pension and allowances”

The Revenue boss spoke on Friday on Channels television, adding that some chief executives of federal government agencies receive a bigger salary than the nation’s leader.

He mentioned the Managing Director of the Nigeria National Petroleum Company Ltd, Managing Directors of the NPA, and NIMASA others Comptroller General of the Nigerian Customs Service, NCS  amongst others, as some chief executives of federal government agencies who receive a bigger pay package than the president of the country.

He said,” I believe that no chief executive should earn more than the president of the country”, adding that the salary of these appointees must be less than the salary of the president and commander-in-chief of the country.

The RMAFC chairman had last month said there’s a need to pay fair, credible remuneration to the affected officers.

He said; “The salaries of members of the House is even worse but because they claim they are independent they packaged all sorts of allowances.

“There is a need for that review. I have seen a magistrate that earns N150,000 a month. That is a magistrate, somebody who passes judgment. Ask around, it will shock you, they are all over Nigeria, they don’t have housing, they don’t have transportation, they have very difficult conditions of service.

“I think it’s about time this is reviewed for national good because we have to be able to take care of judicial officers apart from the ministers and permanent secretaries.

“We have a middle-level worker in NNPC, in CBN who earns more than a judge, that’s the reality. In some places like the NCC, no one even knows. Anybody working in NCC will never disclose their salary to you.”

“The salary of a serving minister is N500,000, housing allowance is 200 percent of the basic. I know of a Deputy Governor of the Central Bank, when he left, his gratuity was N500 million. That is a lifetime pension”.