CBN’s decision to move some departments to Lagos in order - Moghalu

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The movement of some departments of the Central Bank of Nigeria, CBN, from Abuja to Lagos has been described as a welcome development.

Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, who stated this, called on staff of the apex bank to support the recent management’s decision to relocate some departments to Lagos.

Moghalu expressed his concerns on X, formerly known as Twitter, on Sunday, dismissing insinuations that some staff were dissatisfied with the CBN’s decision to relocate departments from Abuja to Lagos.

He cited overcrowded conditions at the Abuja headquarters of the CBN as the reason for his position.

According to him, “I have seen reports of “disquiet” among some @cenbank staffers over the Bank management’s decision to move some its departments to the CBN Lagos office. I don’t see any serious basis for such “disquiet”.”

Moghalu said the Lagos office, completed and inaugurated approximately 12 years ago, has been underutilized.

He explained that the staff numbers at the Abuja headquarters exceed the health and safety limits of the building, hence the need to relocate.

Moghalu said the decision to move departments to Lagos is seen as rational, given that the market entities supervised by these departments are predominantly located in Lagos. The former official stated, “I don’t see any serious basis for such ‘disquiet.’ So, what’s the problem? Seems a rational decision to me.”