CBN: Staff Relocation to Lagos Stirs Controversy

The Central Bank of Nigeria (CBN) has recently stirred a heated debate with its decision to move key departments from Abuja to Lagos.

This week, around 1,500 staff members are set to start work in the new Lagos office, as reported by ThePunch.

An insider confirms the timeline, stating, “They will resume work by February 2, the first week of next month.”

This move, initiated by CBN’s new management, aims to address several issues. The primary goals include enhancing staff safety, increasing productivity, and reducing congestion at the Abuja head office.

A memo to staff explains the move: “This action aims to meet safety standards and improve office space efficiency.” The goal is to optimize the bank’s operations.

Departments moving to Lagos cover Banking Supervision, Consumer Protection, Payment System Management, and Financial Policy Regulations.

However, this decision has faced criticism, especially from northern groups. The Northern Elders Forum and Katsina Elders Forum have opposed it, and the Arewa Consultative Forum labeled it as a potential detriment to their region.

Nevertheless, CBN Governor Yemi Cardoso is determined to go ahead with the plan. This significant shift aims to create a better work environment for CBN staff.

In conclusion, CBN’s move to Lagos has sparked intense debate, reflecting the complexity of such operational changes. As staff settle into their new roles, the CBN focuses on enhancing its service for the nation’s future.