“What’s the Problem?”: Moghalu Speaks on CBN’s Staff Relocation Plan From Abuja to Lagos
- Kingsley Moghalu has expressed his opinion on the recent announcement by the CBN to relocate some of its staff from Abuja.
- The move has been reported to have generated concerns and silent protests from affected CBN staff.
- The Central Bank of Nigeria has its headquarters in Abuja with satellite offices across the country
Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
Kingsley Moghalu has expressed his support to the Central Bank of Nigeria's plans to relocate key departments from Abuja to its Lagos office.
This decision has stirred reactions by some Nigerians and some workers at the CBN reportedly expressing “disquiet” about the move.
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CBN plans to relocate key departments
On Friday, January 12th, the CBN issued a circular outlining its plan to decongest its Abuja headquarters, citing exceeding occupancy levels and concerns over health and safety.
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The apex bank in the circular explained that a total of 1,533 staff will be move from facilities in Abuja, Lagos, and understaffed branches.
However, the Daily Nigerian reported disquiet among some CBN workers, with concerns that the relocation would render the Abuja office “useless.”
Moghalu defends CBN decision
Speaking on the development, Moghalu, who is a former deputy governor of the CBN, in a post on X, pointed out that the Lagos office, inaugurated during his tenure 12 years ago, has remained underutilised.
He added that the relocation a logical solution to address overstaffing in Abuja.
His post reads:
"I have seen reports of “disquiet” among some CBN staffers over the Bank management’s decision to move some its departments to the CBN Lagos office.
“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.”
Data Shows CBN Defended Naira With Over $5 Billion in Six Months
Legit.ng also reported that to maintain stability in the exchange rate, the CBN sold $5.78 billion of forex market in the first half of 2023.
This represents a 26.84 per cent drop compared to the $7.90 billion net sales recorded at the end of June 2022.
CBN disclosed this in its half-year financial market activity report released on its website on Tuesday, October 10, 2023.
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