Dr Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), while reacting to relocating departments and personnel to other branches, said it was a response to the current “overpopulation” at its headquarters.
Cardoso, while stating this in an interview with Arise Television on Monday, said the process was normal for any vibrant entity like a central bank, adding that the move was to align the bank’s structure with its functions and objectives and redistribute skills to ensure a more even geographical spread of talent.
“I think there’s been an attempt to sensationalize 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,” he said.
The Informant247 reports that the CBN’s decision to redeploy over 1,500 personnel from its headquarters to other branches in the country has been met with public outcry, whereas the Northern Elders Forum and some other Northern groups had condemned the move
Meanwhile, the implementation of the directive has reduced the headquarters’ occupancy level to 2,733 personnel from 4,233.
The departments relocated by the CBN include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department.