Aformer deputy governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has supported the move by the apex bank to “decongest” its head office in the Federal Capital Territory (FCT), Abuja, describing it as a logical decision.
NEWSTHUMB reports that on January 12, 2024, the CBN issued a circular announcing the commencement of plans to comprehensively “decongest” its Head Office.
The internal memo, from the Director, Human Resources Department to all staff is reportedly designed to align with building safety standards and enhance office space efficiency.
According to the memo, the departments affected include Banking Supervision; Other Financial Institutions Supervision; Consumer Protection; Payment System Management, and Financial Policy Regulations.
“This is to notify all staff members at the CBN Head Office that we have initiated a decongestion 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:
“Structural Integrity: The building’s integrity can be compromised by exceeding its designed capacity.”The memo further said the decongestion would also improve the apex bank’s operational and workflow efficiency.
“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,” the memo partly stated.
Meanwhile the announcement to relocate 1,533 staff to other facilities in Abuja to Lagos stirred mixed reactions, with some workers at the apex bank reportedly expressing “disquiet” about the move.
Some staff of the CBN see the planned decongestion as “a ploy to shed weight”.
A source told our correspondent that some politically exposed staff of the bank have either resigned or been moved to locations outside Abuja. “More are already considering throwing in the towel because they cannot function well outside Abuja or Lagos.”
Subsequently, Moghalu, a political economist and ex-CBN deputy governor weighed in on the discussion via his social media handle yesterday.
He acknowledged that the Lagos office, inaugurated during his tenure 12 years ago, has been underutilised, making the relocation a logical approach in addressing overcrowding in Abuja, especially with regards to the workers’ health and safety limits of the building.
He said: “I don’t see any serious basis for such “disquiet”. A new Lagos Office for the Bank was completed and inaugurated about 12 years ago while I was at the Bank. As far as I can remember, it was under-utilised.
“Meanwhile, the numbers of staff in the Abuja HQ are vastly over the health and safety limits of the building. Moreover, the market entities supervised by the Departments that will move to Lagos are mostly in Lagos. So what’s the problem? Seems a rational decision to me.”
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