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Moghalu supports CBN’s rational office relocation decision


A former deputy governor of the Central Bank of Nigeria, Kingsley Moghalu, has responded to reports of internal discontent among CBN staff over the decision to relocate certain departments to the CBN Lagos office. 

In a circular issued on January 12 by the director of the human resources department, the CBN outlined plans to decongest its overcrowded head office in Abuja, relocating 1,533 staff to facilities in Abuja, Lagos, and understaffed branches.

According to The Nation, the move has sparked unease among CBN employees, with concerns raised about the potential ineffectiveness of the Abuja office following the changes.

Moghalu, in a social media post, provided insights into the situation, emphasizing the rationale behind the decision. He pointed out that the CBN’s Lagos office, inaugurated during his deputy governor tenure 12 years ago, has been underutilized. 

Moghalu stated, “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-utilized.”

Highlighting the underlying issue of overstaffing at the Abuja headquarters, Moghalu justified the decision to relocate staff. 

He added, “Moreover, the numbers of staff in the Abuja HQ are vastly over the health and safety limits of the building.” Moghalu emphasized that the affected departments primarily oversee market entities located in Lagos, making the move a rational decision.

In conclusion, Moghalu questioned the concerns, stating, “So what’s the problem? Seems a rational decision to me.” 


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