February 21, 2024

Following their relocation from the Abuja headquarters, at least 1,500 Central Bank of Nigeria (CBN) employees will begin work at the Lagos branch on Friday, February 2.

A source within the apex bank informed PUNCH that despite facing criticism, the relocation plan is proceeding, with affected staff scheduled to resume their duties on Friday.

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

The decision by the new management to move parts of CBN’s divisions to the nation’s economic centre for worker safety, greater productivity, and head office decongest the context for the most recent development.

According to CBN, 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.

It further said that it complied with construction codes, as demonstrated by the facility manager’s repeated warnings, the Committee on Decongestion of the CBN Head Office’s findings, and its recommendations.

A memo issued to staff 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.

The Nation

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