The Nigerian Central Bank has announced plans to relocate several of its divisions from Abuja to Lagos.

While some bank employees opposed the transfer and said it was driven by tribal sentiment, a source told Punch that the decision was made to guarantee “staff safety and increased productivity.”

This is to inform every employee at the CBN Head Office that we have started an action plan for decongestion, which is intended to improve the Bank’s working environment.

The objective of this initiative is to optimize the effective use of our office space while guaranteeing adherence to building safety regulations.

“A number of factors make this action necessary, including the necessity of matching the Bank’s organizational structure to its goals and functions, redistributing talent geographically to ensure a more equitable distribution, and adhering to building codes, as demonstrated by the Facility Manager’s repeated warnings and the conclusions and suggestions of the Committee on Decongestion of the CBN Head Office.

The action plan is centered on making the best use of the facilities owned by other banks. According to this plan, 1,533 employees will be transferred to understaffed branches and other CBN locations in Abuja and Lagos.

“With 4,233 occupants, we are currently far above the 2,700 maximum capacity that was intended for the Head Office building. There are numerous serious issues raised by this congestion.

According to the source, “the CBN is saying that they should relocate fully to that state for safety and to increase productivity, instead of sending 200 workers to work in other states and return to the head office.”

The departments of Banking Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment System Management, and Financial Policy Regulations are the ones that CBN Governor Yemi Cardoso has designated for relocation.