The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has revealed that the recent ongoing initiatives to redeploy personnel and departments to other branches are as a result of overpopulation at the headquarters.
The Governor of the apex bank in Nigeria made the revelation in an interview with Arise Television on Monday.
Cardoso asserted that the move was to align the bank’s structure with its functions and objectives as well as redistribute skills to ensure a more even geographical spread of talent.
Also Read:
- Dissecting the legal battle over Wigwe’s estate, inheritance, by Sunday Babatunde
- IGP petitioned over alleged Dubai property fraud
- Afenifere wades into Natasha-Akpabio feud, seeks investigation
- Suspected herdsmen kill vigilante team leader in Delta
- Aiyedatiwa okays employment of 1,010 secondary school teachers in Ondo
The Central Bank of Nigeria had issued a memo to its staff members at the Head Office about initiated decongestion plans to optimise the operational environment of the bank.
However, the initiative, to reduce the headquarters occupancy level to 2,733 from 4,233 personnel, has been condemned by the Northern Elders Forum and some other Northern groups.
Reportedly, the departments relocated by the CBN included Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department.
Responding to the outrage following the apex bank’s decision, Cardoso lamented that there is an attempt to sensationalise the issue, adding that the process was normal for any vibrant entity like a central bank.
He told Arise TV: “I think there’s been an attempt to sensationalise what is a normal process for any vibrant entity like a central bank.
“Bear in mind that as a national institution, the Central Bank has a presence in every state of the federation.
“A situation where a large number of technical skills are in one particular location to the detriment of others does not speak well.
“So this has been an attempt to realign that and to ensure the skills are moved from where there’s an overabundance to where there’s great shortage of those skills.
“So that basically what that is about.
“And with respect to Lagos, which you mentioned, from our perspective, it makes a lot sense that the entities which are attempting to regulate and need to be on top of that are based in Lagos and they would have the right skills from the Central Bank right next to them so they can adequately and effectively do their jobs.”
Responding to a question on the CBN headquarters carrying above its capacity, Cardoso affirmed: “It is overpopulated.
“And with what we are doing right now, we are hoping that will also help in easing the issue of overpopulation, which it is.
“And quite frankly, anybody that comes to the bank and interacts on that level will see that it is.
“It is overpopulated.
“And we’ve got to ensure that we can manage potential issues that could fall out from an overpopulated environment.”
Follow The Eagle Online Channel on WhatsApp
