1,500 staff members redeployed from the CBN have commenced work at the Lagos office

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Over 1,500 Central Bank of Nigeria staff members are set to resume at the Lagos office this Friday after being redeployed from the headquarters.

Despite facing criticism, the plan is progressing, with officials confirming the resumption on February 2.

The relocation aims to enhance staff safety, productivity, and alleviate congestion at the head office, aligning with the bank’s functions and objectives.

The move also complies with building regulations and addresses recommendations for decongestion.

Identified departments for relocation include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment System Management, and Financial Policy Regulations.

Though faced with opposition, the CBN governor is committed to reducing the HQ occupancy level and has already seen some staff members relocating to Lagos.

Concerns have been raised by Northern groups regarding potential negative impacts on costs, talent loss, regional disparities, and investor confidence.

Political consequences are warned by figures such as Senator Ali Ndume if the relocation plan proceeds.

Northern senators and youths express dissatisfaction, alleging a deliberate effort to disadvantage the North.

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