The Central Bank of Nigeria (CBN) is set to transfer some of its departments to Lagos State, according to an internal memo obtained by News About Nigeria.
The change is intended to increase performance and decongest the head office of the apex bank.
Some staff members have reportedly resisted the transfer, claiming it is motivated by tribal sentiment, but an anonymous CBN official stated that it is for safety and increased productivity.
The affected departments include Bank Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department.
The CBN Governor, Yemi Cardoso, is said to have initiated the relocation plan to optimise the operational environment and comply with building safety standards.
The memo stated that the current occupancy level of 4,233 staff exceeds the optimal capacity of 2,700 designed for the head office building.
According to the memo, this poses safety concerns, reduces efficiency, and potential compromise to structural integrity.
The decongestion plan will involve the relocation of 1,533 staff to other CBN facilities within Abuja, Lagos, and understaffed branches.
According to the CBN, the change is strategic and in line with the goals and organisational structure of the bank.
It is expected to improve collaboration, efficiency, and the overall working environment for staff.
The memo also pointed out the potential cost savings associated with the relocation of staff to other CBN facilities.
“This action is necessitated by several factors, including the need to align the Bank’s structure with its functions and objectives, redistribute skills to ensure a more even geographical spread of talent and comply with building regulations, as indicated by repeated warnings from the Facility Manager, and the findings and recommendations of the Committee on Decongestion of the CBN Head Office,” the memo read in part.
