The Central Bank of Nigeria (CBN), in a significant move, is set to relocate several of its departments from the congested Abuja headquarters to Lagos, aiming to optimize operational efficiency and comply with building safety standards.
The apex bank’s Governor, Yemi Cardoso, cited the large staff strength in Abuja as a key justification for this strategic decision.
A reliable source confirmed this development to Vanguard in Abuja, with an internal memo revealing that the Bank Supervision Department is among those directly affected by the new policy.
The memo outlined the purpose of the initiative, stating, “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action plan designed to optimise the operational environment of the bank
“This initiative aims to ensure compliance with building safety standards and enhance the efficient utilisation of our office.”
While Banking Supervision is explicitly mentioned, there are indications that other departments, such as Other Financial Institutions, Consumer Protection, Payment System Management, and Monetary Policy, could also be subject to the relocation plan.
The strategic move, spearheaded by Governor Yemi Cardoso, reflects the CBN’s commitment to maintaining a conducive and compliant working environment while ensuring the efficient use of resources.
