Why we are Moving Some Departments to Lagos – CBN Official

Why we are Moving Some Departments to Lagos – CBN Officia

The Central Bank of Nigeria (CBN) has said its plan to relocate some of its departments from its head office in Abuja to Lagos state is intended to decongest the CBN’s head office and improve efficiency.

A CBN official who sought anonymity stated that it is for the safety and productivity of staff, and is not motivated by tribal sentiment.

The official also added that the decision was made with the best interests of the bank and its staff in mind.

“What is happening now at the CBN is likened to a company with over 500 staff and say 200 used to go to work in other states and return to the head office. It is not out of place for the company to relocate them fully to that state to work and increase their safety and productivity,” he added.

The official of the apex bank stated that only some departments of the apex bank, including the Bank Supervision Department, were affected by the transfer.

He stated that the move is meant to increase the productivity of the affected staff while also cutting costs and ensuring their safety.

Economic Confidential gathered that five CBN departments will be relocated, including Banking Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment System Management, and Financial Policy and Regulation. These changes are being overseen by CBN Governor Yemi Cardoso.

”Most of the bank’s headquarters are in Lagos. The CBN usually sends staff from Abuja to work in Lagos for like one to two months and return to the head office.

“Being on the road all the time is not safe for them and not also cost-efficient for the bank. We know that anybody leaving their comfort would feel the pain, that is why some of the affected workers are complaining but I can assure you that, it is for their good,” he said.

The official explained that the Abuja office has a capacity of 3,000 staff members, but the current staff strength is 4,000, which is putting a strain on the office’s facilities.

“Abuja office is designed to carry about 3 000 staff but we are 4 000 already. The facility managers have already warned of the implication; the security of staff is also at stake with the increased number because it overwhelms the managers,” the official stated.

Excerpts from the memo obtained by Economic Confidential read 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.

“This action is necessitated by several factors, including the need to align the Bank’s structure with its functions and objectives, redistribute skills to ensure a more even geographical spread of talent and comply with building regulations, as indicated by repeated warnings from the Facility Manager, and the findings and recommendations of the Committee on Decongestion of the CBN Head Office.

“The action plan focuses on optimising the utilisation of other Bank’s premises. With this plan, 1,533 staff will be moved to other CBN facilities within Abuja, Lagos and understaffed branches.

“Our current occupancy level of 4,233 significantly exceeds the optimal capacity of 2,700 designed for the Head Office building. This overcrowding poses several critical challenges:

“Safety Concerns: The building’s infrastructure was designed for a specific number of occupants. Exceeding this capacity has raised safety concerns, increased health and accident risks – and hinders efficient emergency evacuation.

“Reduced Efficiency: Crowded workspaces are negatively impacting productivity and collaboration. Additionally, overstretched facilities have led to increased maintenance costs.

“Structural Integrity: The building’s integrity can be compromised by exceeding its designed capacity.”

The memo further said the decongestion would also improve the apex bank’s operational and workflow efficiency.

“Strategic alignment: The decision to redistribute departments and staff is rooted in a strategic approach to align the structure of the Bank with its functions and objectives. Certain departments may be better suited to operate in proximity to Financial Institutions’ head offices, which are predominantly located in Lagos. This strategic alignment ensures optimal collaboration and efficiency,” the memo stated.