Former CBN Governor Sanusi Lauds Decision to Shift Apex Bank Functions to Lagos, Calls it “Sensible Move”

Former CBN Governor Sanusi Lauds Decision to Shift Apex Bank Functions to Lagos, Calls it “Sensible Move”

Sanusi Lamido Sanusi Voices Support for CBN’s Strategic Move

Former Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, has expressed his endorsement of the decision to relocate certain CBN departments from Abuja to Lagos.

Sanusi contends that the move is strategic and devoid of political motivations.

Support for the Relocation: Sanusi Labels the Move “Sensible”

Addressing the recent controversy surrounding the CBN’s announcement to move some departments to Lagos, Sanusi, who was relieved of his CBN governorship in 2014, termed the relocation as an “eminently sensible move.”

Despite political resistance, particularly from northern politicians, Sanusi emphasized that the move holds strategic significance.

Strategic Deployment Proposal: Sanusi’s Insights on CBN Operations

In his statement, Sanusi provided insights into how he would have strategically managed the relocation.

He suggested moving certain functions, such as Financial System Stability (FSS) and most Operations, to Lagos, considering the larger size of the Lagos office compared to Abuja.

This, according to him, would enhance operational efficiency.

Response to Criticism: Sanusi Deems Opposition “Absolutely Unnecessary”

Sanusi dismissed opposition against the relocation policy as “absolutely unnecessary,” emphasizing that the CBN has staff stationed across the country, managing branches and cash offices.

He criticized some employees for prioritizing their personal lives over their roles at the CBN, stating that the bank’s address has become a mere formality for certain individuals.

Strategic Decision-Making: Sanusi Advocates a Principled Approach

Sanusi stressed the need for a strategic and empathetic approach to the relocation. He recommended a thorough analysis to identify which roles are best suited to Lagos and which to Abuja.

In addressing staff relocation, Sanusi proposed considering individual situations, especially for those facing unique challenges such as young mothers or individuals with medical conditions.

Advice to CBN Governor: Sanusi Urges Firmness Against Political Pressure

Offering advice to the current CBN Governor, Sanusi urged the leadership not to succumb to political pressure and to push through decisions, no matter how tough.

He underscored the importance of maintaining principles and avoiding bending to external influences.

Conclusion: Sanusi’s Unpopular But Necessary Advice

In concluding his remarks, Sanusi acknowledged the unpopular and challenging nature of the CBN governor’s role, urging the incumbent to exhibit toughness and rise above ethnic, religious, and political pressures.

He drew parallels with past experiences, emphasizing the need for principled decisions and the ability to withstand public outcry for the greater good of the institution.