Approximately 1,500 staff members of the Central Bank of Nigeria (CBN) are set to resume duties at the bank’s Lagos office on Friday, following their redeployment from the headquarters. Despite facing criticism, the plan to relocate employees to Lagos is proceeding, according to an exclusive report from a source within the apex bank.
Confirming the information, 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 redeploy staff is part of the new management’s strategy to enhance staff safety, boost productivity, and alleviate congestion at the head office. The CBN cited various factors for the move, including aligning the bank’s structure with its functions, redistributing skills to ensure a more even geographical spread of talent, and complying with building regulations.
A memo issued to staff explained the decongestion action plan, aiming to optimize the operational environment of the bank while ensuring compliance with building safety standards and maximizing office space efficiency.
Departments scheduled for relocation include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department, as directed by CBN Governor Yemi Cardoso.
Despite opposition from Northern groups, the CBN governor remains committed to the relocation plan, anticipating a reduction in the headquarters’ occupancy level from 4,233 to 2,733 personnel.
An inside source revealed that some of the affected staff members have already started moving to Lagos. “Over 80 per cent of the Banking Supervision Department staff have been redeployed, and the same for the Payment System Department,” the source noted.
Concerns have been raised by groups like the Northern Elders Forum (NEF), warning of potential negative impacts, including increased costs, loss of talent, operational disruptions, reduced coordination, regional economic disparities, and weakened economic development in Northern Nigeria. Senator Ali Ndume and other Northern senators and youths have also expressed displeasure over what they perceive as a move to short-change the North.
Despite the opposition, the CBN governor remains resolute in implementing the relocation, emphasizing its benefits for efficiency and compliance.
