CBN To Move Departments to Lagos

According to an official’s disclosure of an internal memo, the Central Bank of Nigeria has declared its intention to move a number of its departments to Lagos State.

The goal of the action is to reduce traffic at the headquarters of the largest bank in order to improve both productivity and safety. However, a CBN official asserts that the relocation is for the staff members’ benefit, despite resistance from certain employees who blame it on tribal feelings.

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The departments of Banking Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment System Management, and Financial Policy Regulations are among those that will be relocated. The necessity to increase output, save expenses, and guarantee the security of the relocating employees justifies the decision.

The CBN official stressed that the move is similar to maximizing a business’s working environment, citing concerns about congestion at the Abuja headquarters, which was built to hold 3,000 employees but only has 4,000 at the moment. The action plan to transfer 1,533 employees to other CBN locations in Abuja, Lagos, and understaffed branches is outlined in the memo.
Critical difficulties stemming from the existing congestion include safety concerns, lower productivity due to crowded workspaces, and potential damage of the building’s structural integrity. These problems are anticipated to be resolved by the decongestion, which will also increase operational effectiveness and strategically match departments to the goals and roles of the bank.

Credit: Goldennews