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CBN Set To Decongest Abuja Head Office, Relocate Some Departments To Lagos

Sunday 14 January 2024

The Central Bank of Nigeria (CBN) is relocating several of its departments to Lagos.

Yesterday, a source verified the development to the Sunday Vanguard in Abuja.

According to the source, Governor Yemi Cardoso justified his actions by citing the enormous personnel strength at the Abuja headquarters.

He stated that an internal memo revealed that the Bank Supervision Department was among those affected by the new policy.

The memo 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.”

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Aside from banking supervision, other financial institutions, consumer protection, payment system management, and monetary policy departments may also be affected.

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via: Information Nigeria

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