The Central Bank of Nigeria has announced plans to relocate several of its departments to Lagos State, as detailed in an internal memo disclosed by an official to GOLDENNEWSNG Online. The move aims to alleviate congestion at the apex bank’s head office, with the intention of enhancing safety and productivity. Some staff members, however, have resisted the transfer, attributing it to tribal sentiments, but the CBN official insists it is for their well-being.
The affected departments slated for relocation include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department. The decision is justified by the need to boost productivity, cut costs, and ensure the safety of the relocated staff.
The CBN official emphasized that the relocation is akin to optimizing the operational environment of a company, with overcrowding concerns at the Abuja office, which is designed for 3,000 staff but currently accommodates 4,000. The memo outlines the action plan to move 1,533 staff to other CBN facilities in Abuja, Lagos, and understaffed branches.
Safety concerns, reduced efficiency due to crowded workspaces, and potential compromise of the building’s structural integrity are cited as critical challenges arising from the current overcrowding. The decongestion is expected to address these issues, improve operational efficiency, and strategically align departments with the functions and objectives of the bank.