Central Bank of Nigeria Initiates Decongestion Plan, Set to Transfer Departments to Lagos

In a bid to optimize its operational environment, the Central Bank of Nigeria (CBN) is set to transfer some of its departments from the head office in Abuja to Lagos State. An internal memo obtained on Saturday outlined the move as a strategic initiative to decongest the apex bank’s head office.

The transfer, according to an anonymous CBN official, is aimed at improving staff safety, increasing productivity, and reducing costs. While some staff members have resisted, claiming tribal sentiments, the official emphasized that the decision is focused on the well-being and efficiency of the affected employees.

The affected departments include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department. CBN Governor Yemi Cardoso reportedly initiated this move to align the bank’s structure with its functions and objectives.

Explaining the rationale behind the decision, the official mentioned that staff members from Abuja were regularly sent to work in Lagos, creating safety concerns and cost inefficiencies. The move aims to consolidate these departments in Lagos permanently, ensuring both staff safety and operational efficiency.

The overcrowded state of the Abuja office, designed for 3,000 staff but currently accommodating 4,000, poses challenges such as safety concerns, reduced efficiency, and potential compromise of structural integrity. The memo outlined that the decongestion plan would involve relocating 1,533 staff to various CBN facilities within Abuja, Lagos, and understaffed branches.

The initiative, aligned with building safety standards and regulatory compliance, is expected to enhance the overall efficiency of the Central Bank of Nigeria’s operations and ensure a more balanced geographical spread of talent.

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