THE CENTRAL BANK OF NIGERIA HAS ALLOCATED FIVE DEPARTMENT TO LAGOS AFTER RESULTING TO THE REDEPLOYMENT OF 1500 STAFF MEMBERS
The Central Bank of Nigeria (CBN) is set to relocate five departments currently based in the Federal Capital Territory, Abuja, to its new office in Lagos.
The departments being moved include: Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department. Approximately 1,500 staff members of the apex bank are slated to resume duties at the Lagos office on Friday, February 02, 2024, following their redeployment from the headquarters.
In line with recent reports from Punch’s online source, the Central Bank of Nigeria (CBN) has affirmed its plan to relocate several departments from its current headquarters in the Federal Capital Territory, Abuja, to a new office in Lagos. An official stated, “Yes, the plan is still on, and they will resume work by February 2, which is the first week of next month.”
The decision to move departments such as Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department is attributed to considerations of staff safety, increased productivity, and the need to decongest the current head office. The move aims to align the bank’s structure with its functions and objectives while ensuring a more even geographical spread of talent.
CBN emphasized compliance with building regulations, citing warnings from the facility manager and recommendations from the Committee on Decongestion of the CBN Head Office. A memo issued to staff outlined the decongestion action plan to optimize the operational environment, ensuring building safety standards and efficient office space utilization.
Despite opposition from some Northern groups, the CBN governor, Yemi Cardoso, remains committed to the relocation, anticipating a reduction in the headquarters’ occupancy level from 4,233 personnel to 2,733.
Source: Techeconomy
