CBN RELOCATION: 1,500 Staff to Resume in Lagos on Friday


By Innocent Orok

At least 1,500 members of staff of the Central Bank of Nigeria ( CBN) will on Friday resume at its Lagos office following their redeployment from the headquarters.

Recalled that the President Bola Ahmed Tinubu administration has decided to relocate some departments of the Nigeria’s apex bank to Lagos, the commercial nerve centre of Nigeria, despite huge opposition , especially from the northern part of the Country.

“Yes, the plan is still on and they will resume work by February 2, which is the first week of next month,” an official of CBN said.

The latest development comes on the backdrop of the decision of the new management to relocate some of CBN’s departments to the country’s economic hub for staff safety, increased productivity, and to decongest its head office.

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

It added that it was also 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.

A memo issued to staff 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.”

According to reports, the departments penciled down for relocation by the CBN governor Yemi Cardoso include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department.

Although the Northern Elders Forum and some other Northern groups had condemned the move, our correspondent gathered that the CBN governor was committed to implementing it, as it is expected to reduce the Headquarters occupancy level to 2,733 personnel from 4,233.

Some of the affected staffers had started relocating to Lagos. “Some have 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.

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