CBN Announces Headquarters Decongestion, Departments Moved To Lagos

The Central Bank of Nigeria (CBN) plans to relocate some of its departments to Lagos State, aiming to decongest its head office, according to an internal memo obtained by PUNCH Online on Saturday….CONTINUE READING

While some staff members have reportedly resisted the transfer, claiming it’s driven by tribal sentiment, an anonymous CBN official asserted that the move is intended for safety and increased productivity.

The affected departments include Bank Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment System Management, and Financial Policy Regulations.

The decision is part of an action plan to optimize the operational environment, align the bank’s structure with its objectives, and comply with building safety standards. Overcrowding at the head office has raised safety concerns and hindered efficiency.

The memo indicated that 1,533 staff would be relocated to other CBN facilities within Abuja, Lagos, and understaffed branches, improving safety, efficiency, and strategic alignment.