1,500 redeployed CBN staff to resume work in Lagos on Friday.


By Kamsi Anayo

At least 1,500 Central Bank of Nigeria (CBN) employees will resume work at the Lagos branch on Feb. 2.

This is as a result of the relocation of their departments from the Abuja headquarters. 

A source within the apex bank said  in spite of the rising criticism from some quarters, the relocation plan was proceeding unencumbered, with affected staff scheduled to resume their duties in Lagos on Friday.

The official said: “Yes, the plan is still on and they will resume work by Feb. 2, which is the first week of next month.”

The decision by the new management to move parts of CBN’s divisions to Lagos was for worker safety and greater productivity, the source said.

According to CBN itself, several reasons led to the decision, including the need to realign the bank’s organizational structure with its goals and missions and reallocate expertise to achieve a more equitable distribution of talent across geographies.

The apex bank said the initiative, contained in a circular dated Jan. 12, 2023 from the director of the human resources department, to all staff was designed to align with building safety standards and enhance office space efficiency.

The circular noted that the decision was prompted by safety concerns, increased health and accident risks, and the need to comply with building regulations, following repeated warnings from the facility manager and recommendations from the committee on decongestion of the CBN head office building.

The memo read: “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action plan designed to optimize the operational environment of the Bank.

“This initiative aims to ensure compliance with building safety standards and enhance the efficient utilization of our office space.”

According to reports, the departments penciled down for relocation by the CBN Governor, Yemi Cardoso, include Banking Supervision, other financial institutions supervision, consumer protection department, payment system management department, and financial policy regulations department.


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