See list of CBN Departments moving from Abuja to Lagos

To decongest its head office in Abuja, some officials of the Central Bank of Nigeria (CBN) are moving to Lagos.
The head office of the apex bank was in Lagos for decades before Nigeria’s eighth Commander-in-Chief, General Ibrahim Babangida, moved it to Abuja officially on December 12, 1991.
The movement, Freedom Online learned, was largely due to “safety, increased productivity and cutting costs”.
A source said “The need to decongest the apex bank’s head office is urgent and now”.
Officials of the following departments will move to Lagos: Banking Supervision; Other Financial Institutions Supervision; Consumer Protection Department; Payment System Management Department and Financial Policy Regulations Department.

Freedom Online learned that CBN Governor, Yemi Cardoso, has approved the relocation.
Also, an internal memo has been written to this effect.
It reads: “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.”
“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”.