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1,500 redeployed CBN staff resume at Lagos office



The members of staff of the Central Bank of Nigeria (CBN) will on Friday resume at its Lagos office following their redeployment from the Abuja office.

A source at the apex bank told newsmen that at least 1,500 staff will report to the CBN office in Lagos, that the plan, though heavily criticised, was still in motion, and affected staffers would be resuming on Friday. The plan is still on and they will resume work by February 2, which is the first week of next month.

The new management had earlier decided to relocate some of CBN’s departments to the country’s economic hub for staff safety, increased productivity, and to decongest its head office in Abuja.

Apex Bank said the action was necessitated by several factors, including the need to redistribute skills to ensure a more even geographical spread of talent and align the bank’s structure with its functions and objectives.

The bank also added that the decision is in compliance with building regulations, as indicated by repeated warnings from the facility manager, and the findings and recommendations of the Committee on Decongestion of the CBN Head Office.

Following a memo issued to staff which read, “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action plan designed to optimise the operational environment of the Bank. This initiative aims to ensure compliance with building safety standards and enhance the efficient utilisation of our office space.”

Reports made it known that the departments penciled down for relocation by the CBN governor Yemi Cardoso include Consumer Protection Department, Financial Policy Regulations Department, Payment System Management Department, Banking Supervision, and other Financial Institutions Supervision.

Recall, the Northern Elders Forum and some other Northern groups had condemned the move by the Apex Bank, newsmen gathered that the CBN governor was committed to implementing it, as it is expected to reduce the HQ occupancy level to 2,733 personnel from 4,233.

Another source told newsmen that some of the affected staffers had started relocating to Lagos, some had already gone ahead. Over 80% of the Banking Supervision Department staff have been redeployed and the same for the Payment System Department,” the source said.

Some quarters have expressed worry over the potential negative impact of relocating those essential departments on both the institution itself and the country as a whole, among which includes, increased costs, loss of talent, disruption in operations, reduced coordination, regional economic disparities, impaired economic development in Northern Nigeria, and decreased investor confidence in the nation’s economy.

“Hoeweer, moving them entirely to Lagos will only serve to further strengthen the already dominant position of Lagos, while potentially weakening the significance and role of Abuja,”

Senator Ali Ndume, who is the Chief Whip of the Senate warned that there would be “political consequences” if the plan to relocate some departments of CBN as well as the corporate headquarters of Federal Airports Authority of Nigeria to Lagos were implemented. Also that, those misleading the President are not doing him any good because this is going to have some political consequences. If Tinubu were not elected president, the CBN governor would not be there.”

Some northern senators and youths have also expressed displeasure over the development, which they claimed was a calculated move to short-change the North in the system..

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