Former CBN Deputy Governor Defends CBN’s Decision to Move Departments to Lagos

Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), has responded to reports of internal unrest among CBN staff following the management’s decision to relocate certain departments to the CBN Lagos office. In a circular issued by the CBN’s human resources department on January 12, plans were outlined to decongest the bank’s head office in Abuja by relocating 1,533 staff to other CBN facilities in Abuja, Lagos, and understaffed branches.

The bank cited overcrowding as a significant challenge, with the current occupancy of 4,233 exceeding the optimal capacity of 2,700 for the head office building. According to reports by The Nation and Daily Nigerian, the move has sparked discontent among CBN staff, with concerns raised about the impact on the effectiveness of the Abuja office. In response to these reports, Kingsley Moghalu took to social media to express his support for the decision.

He highlighted that the CBN’s Lagos office, which was inaugurated during his tenure as deputy governor 12 years ago, has been underutilized. He emphasized that the relocation aims to address the issue of overstaffing in the Abuja headquarters, where the staff count exceeds recommended health and safety limits. Moghalu argued that the decision is logical as the affected departments primarily oversee market entities located in Lagos.

He expressed his confusion regarding the reported disquiet among staff, stating that the move seems rational given the circumstances. “I don’t see any serious basis for such ‘disquiet’,” he tweeted. “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. 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’s remarks indicate his support for the CBN’s decision to optimize its office spaces and address the challenges posed by overstaffing in Abuja. His perspective adds a nuanced understanding to the ongoing discussion about the CBN’s internal restructuring.

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