Central Bank of Nigeria Initiates Head Office Relocation from Abuja to Lagos with 1,500 staff to resume in lagos
In a strategic move aimed at improving office space efficiency and adhering to building safety regulations, the Central Bank of Nigeria (CBN) has initiated plans to relocate its head office from Abuja to Lagos.
The decision comes after a circular dated January 12, 2023, from the HR director to all employees, announcing the redeployment of at least 1,500 staff members to the Lagos office by Friday, as reported by The Punch.
The decision, rooted in concerns over safety, health risks, and the necessity to comply with building requirements, was prompted by repeated warnings from the facilities manager and recommendations from the committee on decongestion of the CBN head office building.
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The move aims to mitigate the increasing risks of accidents and health issues associated with the current workspace.
Among the departments slated for relocation are
- Banking Supervision.
- Other Financial Institutions Supervision.
- Consumer Protection Department,
- Payment System Management Department.
- Financial Policy Regulations Department.
In what Ejes gist news described as a discreet “housecleaning” move, the CBN has reportedly redeployed eight top directors as part of efforts to reinvigorate the institution.
This follows an initiative by CBN Governor Olayemi Cardoso to audit staff and identify personnel deemed unsuitable for their roles in alignment with the bank’s new direction.
However, the decision to shift crucial sections of the CBN to Lagos has faced opposition from certain groups. The contentious nature of the move underscores the challenges and diverse reactions emerging from various quarters across the country.
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As the CBN gears up for this significant transition, it marks a pivotal moment in the institution’s evolution, balancing safety concerns and regulatory compliance against the need for operational efficiency. The outcome of this relocation is poised to shape the future dynamics of the CBN and its role in the Nigerian financial landscape.
