June 8, 2024

Central News

at the center of it

CBN moves 50% staff off Abuja headquarters to boost operational efficiency

AT least 1,500 members of staff of the Central Bank of Nigeria (CBN) will on Friday resume at its Lagos office, following their redeployment from the Abuja headquarters.
“Yes, the plan is still on and they will resume work by February 2, which is the first week of next month,” an official has said.
The latest development comes on the backdrop of the decision of the new management to relocate some of CBN’s departments to the country’s economic hub for staff safety, increased productivity, and to decongest its head office.
CBN says the action is necessitated by several factors, including the need to align the bank’s structure with its functions and objectives and redistribute skills to ensure a more, even geographical spread of talent.
It adds that it is also in compliance with building regulations, as indicated by repeated warnings from the facility manager, as well as findings and recommendations of the “Committee on Decongestion of the CBN Head Office.”
A memo issued to staff reads in part: “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action 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.”
According to reports, the departments being relocated by the CBN governor Yemi Cardoso include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment Systems Management Department, and Financial Policy Regulations Department.
Although the Northern Elders Forum and some other Northern groups have condemned the move, inside sources say the CBN governor is adamant and committed to implementing it, as it is expected to reduce the HQ occupancy level to 2,733 personnel from 4,233.
“Some have already gone ahead. Over 80 per cent of the Banking Supervision Department staff have been redeployed and the same for the Payment System Department,” a CBN source says this morning.