Moghalu Backs CBN’s Decision to Move Departments to Lagos

Former deputy governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu, had faulted the criticism of the apex bank’s decision to move some of its departments to Lagos from Abuja.

The decision by the CBN had been criticized by anonymous sources in the bank who labelled the move as tribalistic.

Reacting, Moghalu stated that there was a need for the decision, just as he pointed out that the Abuja headquarters was congested with staff.

He shared on X, “I have seen reports of “disquiet” among some @cenbank 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 yrs ago while I was at the Bank. As for as I can remember, it was under-utilized. Meanwhile, the numbers of staff in the Abuja HQ are vastly over the health and safety of 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.”

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