Moghalu Backs CBN Relocation Plan Amid Staff Worries

The Central Bank of Nigeria’s (CBN) recent announcement to relocate key departments to its Lagos office has stirred mixed reactions, with some workers at the apex bank reportedly expressing “disquiet” about the move.

But in a reaction to the reported “disquiet” among the state, a former deputy governor of the CBN, Kingsley Moghalu, has supported the move. He points out that the Lagos office, inaugurated during his tenure 12 years ago, has remained underutilised.

LEADERSHIP reports that on 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. The bank aims to move 1,533 staff to other 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, a former deputy governor of the CBN, weighed in on the discussion through social media. He acknowledged that the Lagos office, inaugurated during his tenure 12 years ago, has been underutilised, making the relocation a logical solution to address overstaffing in Abuja.

Writing on X, 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.”