CBN Governor Assures Nigerians to Shun Controversial Statements Concerning Relocation Plans
- Posted on February 05, 2024
- Featured
- By PETER AGADA
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), today expounded on the plans to relocate some departments and personnel to other apex bank branches nationwide, especially those in Lagos State, due to overpopulation at its headquarters in Abuja.
This announcement was made public by Mr Cardoso on Monday, February 5, 2024, in an interview with Arise Television. Following the controversy arising from Apex Bank's decision to relocate some parts of its department, he granted this interview to relocate some departments from the HQ.
Cardoso said he is disappointed at the controversial statements that have been going on ever since the CBN issued the announcement. He mentioned that such a move is normal for any vibrant entity, such as the Central Bank, to succeed.
What Cardoso is Saying?
Mr Cardoso said that the plans to relocate some departments of the Bank align with the Bank's structure with its functions and objectives and redistribute skills to ensure a more even geographical spread of talent.
He said,
I think there's been an attempt to sensationalise what is a normal process for any vibrant entity like a central bank. Remember that as a national institution, the Central Bank has a presence in every federation state.
A situation where many technical skills are in one particular location to the detriment of others needs to speak better. So this has been an attempt to realign that and to ensure that skills are moved from where there's an overabundance to where there's a significant shortage of those skills. So that's basically what that is about.
And concerning Lagos, which you mentioned, from our perspective, it makes a lot of sense that the entities that we are attempting to regulate and need to be on top of are based in Lagos, and they should have the right skills from the central bank right next to them so they can adequately and effectively do their jobs.
About CBN Capacity
I think there's been an attempt to sensationalise what is a normal process for any vibrant entity like a central bank. Remember that as a national institution, the Central Bank has a presence in every federation state.
A situation where many technical skills are in one particular location to the detriment of others needs to speak better. So this has been an attempt to realign that and to ensure that skills are moved from where there's an overabundance to where there's a significant shortage of those skills. So that's basically what that is about.
And concerning Lagos, which you mentioned, from our perspective, it makes a lot of sense that the entities that we are attempting to regulate and need to be on top of are based in Lagos, and they should have the right skills from the central bank right next to them so they can adequately and effectively do their jobs.
In the interview, Mr Cardoso was asked if the headquarters was above its carrying capacity; he stated,
It is overpopulated. And with what we are doing right now, we are hoping that will also help ease the issue of overpopulation.
And frankly, anybody who comes to the Bank and interacts on that level will see it. It needs to be more populated. And we've got to ensure that we can manage potential issues that could fall out from an overpopulated environment.
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