Mr. Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria (CBN), has expressed his support for the planned relocation of specific departments of the apex bank to Lagos State. The decision, aimed at relieving congestion at the CBN’s head office in Abuja, has sparked controversy among some staff members who claim it carries sectional bias.
According to an internal memo obtained by ChatNews TV, the departments affected by the relocation include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment System Management, and Financial Policy Regulations.
Contrary to the disapproval expressed by some staff members, Mr. Moghalu argued that the move was a logical solution to address overstaffing issues in Abuja. He pointed out that the Lagos office, inaugurated 12 years ago, has remained underutilized.
“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-utilized,” Moghalu stated in a post on his official social media handle.
He further explained that the number of staff in the Abuja headquarters exceeds the health and safety limits of the building. Moreover, the market entities supervised by the departments slated for relocation are primarily based in Lagos.
“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,” Moghalu added.
The CBN’s decision to decentralize certain functions to its Lagos office is seen by Moghalu as a strategic move that aligns with operational requirements and geographic considerations. The controversy surrounding the relocation remains a subject of debate within the CBN, with conflicting opinions on whether the move is necessary or motivated by sectional interests.
