The Central Bank of Nigeria has decided to relocate some of its departments to Lagos State. This plan is aimed at reducing congestion at the apex bank’s head office. An official from the CBN, who preferred to remain anonymous, explained that the relocation is intended to enhance safety and productivity, despite reported resistance from some staff members who believe it is driven by tribal sentiments.
The transfer affects specific departments such as the Bank Supervision Department. The CBN Governor, Yemi Cardoso, identified the Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department for relocation to Lagos.
The decision to move departments is tied to the overcrowding issue at the Abuja office, which was designed to accommodate 3,000 staff but currently houses 4,000 employees. This situation has prompted concerns about safety, facility management, and building compliance.
An internal memo obtained by PUNCH Online outlined the reasons behind the decongestion plan. It aims to optimize the operational environment, comply with building safety standards, and make more efficient use of office space. The memo also highlighted that the current occupancy level of 4,233 exceeds the optimal capacity of 2,700, posing safety, efficiency, and structural integrity challenges.
The decongestion plan is expected to involve relocating 1,533 staff to other CBN facilities within Abuja, Lagos, and understaffed branches. Additionally, the memo emphasized that this initiative aims to improve the bank’s operational and workflow efficiency while strategically aligning departments with the bank’s functions and objectives.