Former Central Bank Deputy Governor Backs Controversial Relocation Move Amid Employee Concerns

Former Central Bank Deputy Governor Backs Controversial Relocation Move Amid Employee Concerns

Central Bank’s Bold Move: Former Deputy Governor Moghalu Backs Controversial Relocation Amidst Employee Concerns

In a recent development, Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, supports the apex bank’s decision to relocate specific departments, a decision met with skepticism among employees.

Central Bank’s Strategic Pivot: Circular Outlines Justification for Relocation Plan

The CBN, in a circular dated January 12th, meticulously explains the rationale behind its strategic relocation plan.

The move aims to address concerns about overcrowding at its Abuja headquarters, citing occupancy limits and health and safety as primary considerations.

Workforce Dynamics: Extensive Staff Relocation Planned to Mitigate Overcrowding Challenges

Part of the CBN’s plan involves relocating 1,533 staff members to alternate facilities in Abuja, Lagos, and branches facing understaffing.

This ambitious move signals the bank’s commitment to alleviate the strain on the Abuja office and enhance overall operational efficiency.

Employee Apprehension: Central Bank’s Relocation Decision Sparks Varied Reactions

The recent decision by the CBN has triggered a spectrum of reactions among employees, who express concerns that the relocation may render the Abuja office redundant.

These concerns highlight potential disruptions and uncertainties within the workforce.

Optimizing Resources: Moghalu Advocates Utilizing Underutilized Lagos Office as a Pragmatic Solution

Kingsley Moghalu, expressing his endorsement for the relocation, emphasizes the underutilization of the Lagos office, established during his tenure 12 years ago.

His perspective positions the move as a pragmatic solution to the challenge of overstaffing in Abuja.

Employee Reassurance: Moghalu Dismisses Disquiet, Stresses Decision’s Rationality

Addressing reported disquiet among employees, Moghalu dismisses concerns, stating, “I don’t see any serious basis for such ‘disquiet.'”

He emphasizes that the Lagos office, completed 12 years ago, justifies relocating departments to tackle the overstaffing issue in Abuja.

Safety Imperative: Abuja HQ Overcrowding Raises Health and Safety Concerns

Moghalu underscores health and safety concerns at the Abuja headquarters, where staff numbers surpass the building’s limits.

This underscores the necessity of the relocation plan, aiming to provide a safer and more conducive working environment for CBN employees.

Strategic Efficiency: Moghalu Stresses Operational and Geographic Factors Behind the Decision

In his response to concerns, Moghalu rationalizes the decision, pointing out that the market entities supervised by the relocating departments are predominantly in Lagos.

This, coupled with the overstaffing issues in Abuja, supports the move as a necessary and rational decision for the overall efficiency of the CBN.**

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