CBN DECONGESTS HEAD OFFICE, RELOCATES DEPARTMENTS TO LAGOS

The Central Bank of Nigeria (CBN) is planning to transfer some of its departments
to Lagos State, the nation’s economic hub. This move is aimed at decongesting the
 apex bank’s head office located in the Federal Capital Territory, Abuja.
An internal memo revealed that the initiative is part of a decongestion
action plan designed to optimize the operational environment, align the bank’s
structure with its functions, and comply with building safety standards.

Despite reported resistance from some bank staff who claim the transfer is
motivated by tribal sentiments, an official source stated that the decision is
primarily for staff safety and increased productivity. The memo emphasized
the need to redistribute skills for a more even geographical spread of talent
and to comply with building regulations.

The action plan targets the optimization of other CBN premises, with 1,533
staff expected to be relocated to other CBN facilities within Abuja, Lagos,
and understaffed branches. The current occupancy level of 4,233 at the head
office exceeds the optimal capacity of 2,700, posing critical challenges related
to overcrowding. The departments scheduled for relocation include Banking Supervision,
 Other Financial Institutions Supervision, Consumer Protection, Payment System
Management, and Financial Policy Regulations. The decision reflects an effort
to enhance efficiency, comply with regulations, and ensure the safety of staff
 members.