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CBN to relocate headquarters from Abuja to Lagos


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The Central Bank of Nigeria (CBN) is set to relocate some of its departments from Abuja to Lagos State.

According to an internal memo, the departments affected include Banking Supervision; Other Financial Institutions Supervision; Consumer Protection; Payment System Management, and Financial Policy Regulations

NewsBand gathered that the decision is designed to decongest the apex bank’s head office.

Though, some staff members of the apex bank this medium learnt, have reportedly rejected the transfer, claiming that it is motivated by sectional bias.

An official of the CBN who doesn’t want to be quoted, said the transfer of some departments to Lagos is for the safety of the members of staff and their increased productivity.

“If a company with over 500 members of staff in its head office normally sends about 200 of them to go and work in other states and return to the head office, it will be more economical for the company and safer for the affected members of staff for the company to relocate them fully to go and work in those states. It will also enhance their productivity,” the official said

It added that only a few departments of the apex bank were affected by the transfer. He stated that the move is also aimed at cutting costs and ensuring their safety.

However, the memo announcing the planned relocation reads, “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion 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 space.

“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 action plan focuses on optimising the utilisation of other bank’s premises. With this plan, 1,533 staff will be moved to other CBN facilities within Abuja, Lagos and understaffed branches.

“Our current occupancy level of 4,233 significantly exceeds the optimal capacity of 2,700 designed for the Head Office building. This overcrowding poses several critical challenges:

“Safety Concerns: The building’s infrastructure was designed for a specific number of occupants. Exceeding this capacity has raised safety concerns, increased health and accident risks – and hinders efficient emergency evacuation.

“Reduced Efficiency: Crowded workspaces are negatively impacting productivity and collaboration. Additionally, overstretched facilities have led to increased maintenance costs.

“Structural Integrity: The building’s integrity can be compromised by exceeding its designed capacity.

The memo further said the decongestion would also improve the apex bank’s operational and workflow efficiency.

“Strategic alignment: The decision to redistribute departments and staff is rooted in a strategic approach to align the structure of the bank with its functions and objectives. Certain departments may be better suited to operate in proximity to financial institutions’ head offices, which are predominantly located in Lagos. This strategic alignment ensures optimal collaboration and efficiency”.

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