A leaked memo has revealed that the Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso, is planning to move some of the bank’s departments from Abuja to Lagos. The memo, which was obtained by Vanguard, stated that the move was part of a “decongestion action plan” to optimize the bank’s operational environment.
However, the plan has sparked outrage among the staff, who see it as a hidden agenda and a sign of disrespect. They argue that the CBN has enough facilities in Abuja to accommodate its staff, and that relocating them to Lagos would disrupt their work and lives.
Why Lagos?
According to the memo, the Bank Supervision Department is the main target of the relocation plan. The memo claimed that the move would “ensure compliance with building safety standards and enhance the efficient utilization of our office.”
But the staff are not convinced. They point out that the CBN has several underutilized buildings in Abuja, such as the former head office in Garki and the ones in Maitama District. Also suggest that the governor should use these buildings instead of sending them to Lagos, where the cost of living and transportation are higher.
They also question the logic of moving the Bank Supervision Department to Lagos, when the CBN’s mandate is to supervise the entire banking sector in the country, not just in Lagos. also fear that the move would compromise the quality and effectiveness of their work.
Who Else is Affected?
The memo did not specify how many staff would be affected by the relocation plan, but it hinted that other departments could also be involved. These include Other Financial Institutions, Consumer Protection, Payment System Management, and Monetary Policy.
The staff are worried that the plan would create chaos and confusion in the bank, as well as affect their morale and productivity. They are also unhappy with the way the governor has treated them since he assumed office.
Sources told Vanguard that the governor had initially wanted to sack all the directors of the CBN, but he was stopped by the fact that they were not political appointees. He then decided to transfer most of them from the headquarters to other units, such as the Financial Systems Stability Secretariat and the CBN training institute in Maitama.
The staff see this as a way of sidelining and punishing them for their loyalty to the previous administration. They accuse the governor of having a bias against them and a preference for his own cronies.
What Next?
The staff have vowed to resist the relocation plan and to seek legal action if necessary. They have also called on the National Assembly and the Presidency to intervene and stop the governor from carrying out his plan.
They say that the plan is not in the best interest of the bank, the economy, or the country, and that it would only create more problems than it would solve.
