Despite Criticism, CBN Transfers 1,500 Staff, Departmental Hqtrs From Abuja to Lagos Office

Despite Criticism, CBN Transfers 1,500 Staff, Departmental Hqtrs From Abuja to Lagos Office
Central Bank of Nigeria (CBN)
The Federal Government of Nigeria has approved the transfer of about 1,500 staff of the Central Bank of Nigeria (CBN) from its National Headquarters in Abuja to the Operational Office of Lagos, the Center of Excellence.

A memo released by the CBN Management directs the 1,500 staff to resume at the Lagos Office of the bank on Friday, February 2nd, 2024.

The memo reads “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action plan designed to optimize the operational environment of the Bank. This initiative aims to ensure compliance with building safety standards and enhance the efficient utilization of our office space.

Recall that there are growing concerns among people of the Northern part of Nigeria following allegations that the administration of President Bola Ahmed Tinubu has finalized a plan to relocate the CBN from Abuja to Lagos.

However, the Federal Government of Nigeria has denounced the plan to relocate the CBN but agreed that some selected departments and staff of the apex bank would be relocated to Lagos to ensure staff safety, increased productivity, and decongestion of the head office.

An official of the CBN confided in the journalists that “Yes, the plan is still on, and they will resume work by February 2, which is the first week of next month.”

Among the departments of the CBN that would be relocated from the Abuja headquarters of the apex bank to Lagos are Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department.

Northern leaders including Northern Elders Forum and some other groups domiciled in the North have raised eyebrows citing the transfer of staff and departments of the CBN from Anuja to the Lagos Office of the apex bank as an attempt to depopulate the headquarters of the bank from 4,233 to 2,733 personnel which the leaders suggested may lead to increase costs, loss of talents, operational disruption, reduced coordination, regional economic disparities, impaired economic development in the North, and decreased investors confidence in the country’s economy.

Category: World-News
Tag: Despite Criticism CBN Transfers 1500 Staff Departmental Hqtrs From Abuja to Lagos Office
Written by Author (author)
Published 1/30/2024 12:05:51 PM

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