Cardoso Confirms CBN Headquarters Is Over-Populated

The Central Bank of Nigeria (CBN) Governor, Dr. Olayemi Cardoso, has hinted that the bank’s headquarters in Abuja is overpopulated.

The CBN governor noted that the development remains part of the reason the bank is relocating some of its staff members from Abuja to Lagos.

Cardoso spoke on Monday during an interview on Arise Television.

Speaking on the rationale behind the movement of staff to Lagos, the apex bank’s governor claimed that there is an attempt to sensationalise what is a normal process for any vibrant entity like the central bank.

When asked if the CBN headquarters is over-populated, Cardoso replied in the affirmative.

“It is over-populated,” he said, adding that the bank anticipates that the move will address the concern at the bank’s headquarters in Abuja.

“Quite frankly, anybody that comes to the bank and interacts at the level will see that it is over-populated. We’ve got to see that we are able to manage potential issues that could fall out from an overpopulated environment,” he stated.

He explained further that the CBN, as a national institution, has a presence in every state of the federation.

However, the apex bank governor said a situation where staff members with technical skills are located in one particular section could undermine collective efforts.

“So this has really been an attempt to realise that and to ensure that skills are moved from overabundance to where there is a great shortage of these skills,” he said.

The CBN governor noted that the apex bank regulates banks based in Lagos and those in charge of such oversight should have the right skills to effectively do their jobs.

In January, the CBN in an internal memo announced plans to transfer some of its departments to Lagos on the ground that its headquarters in Abuja is congested with staff.

The move generated concerns across the country, particularly among the northern lawmakers, some of whom have condemned the relocation of some departments in the CBN and the headquarters of the Federal Airport Authority of Nigeria (FAAN) from Abuja to Lagos State.

The senators called on the federal government to consider a reversal of the relocated departments or ready to face legal actions.