Sanusi Lamido hails movement of some CBN departments from Abuja to Lagos, says It’s strategic

With 90 percent of commercial banks headquartered in Lagos, former Central Bank of Nigeria (CBN) governor Sanusi Lamido Sanusi has described the relocation of some departments of the apex bank to Lagos as a “brave and strategic move.

“The 14th Emir of Kano, in a statement, has knocked those criticizing the policy, stating that it is “absolutely unnecessary.”.

According to him, moving certain functions to the Lagos office (which is bigger than the Abuja head office) is an eminently sensible move.

“In my mind, what I would have done was to move FSS and most of Operations to Lagos such that the two Deputy Governors would be largely operating out of Lagos or, even if they were more in Abuja, the bulk of their operational staff would be in Lagos.

“Economic Policy, Corporate Services, and all the departments reporting to the Governor directly, such as Strategy, Audit, Risk Management, the’ Governor’s Office, etc., would remain in Abuja.

“It makes eminent strategic sense, and I would have done this if I had stayed.”Sanusi explained further that moving staff to the Lagos office to streamline operations, make them more effective, and reduce costs is a normal prerogative of management.

He added: “The problem we have now is that many employees are children of politically exposed persons, and their Abuja life and businesses are more important than the CBN work.

“The CBN is just an address for them, and if they have to choose between their spoilt Abuja life and the job, they would gladly leave the CBN.

“All the more reason for the governor to put his foot down and get rid of those elements; they are dangerous for the bank’s future.

“The question of locating functions is a strategic and not tactical one. A proper analysis should be done to identify which roles are best suited to Lagos and which to Abuja.

“Once the logic is clear, the people then follow. Non-communication of strategic intent opens the door to mischievous misrepresentation and arbitrariness.

“I don’t like the idea of arguing that the office structure cannot handle the staff numbers. I am sure Julius Berger would refute that if they wanted to engage.”

Sanusi’s statement comes barely 24 hours after Northern senators and youths expressed displeasure over the move, which they contended was a calculated move to shortchange the North.

Amplifying the dissenting voices from the North, the Senator representing Borno South Senatorial, Ali Ndume, said President Tinubu was being misinformed by “political cartels” to make wrong decisions.

Ndume, who spoke during an interview on Tuesday, said the President was being ill-advised by “Lagos boys” in the corridors of power, stressing the planned relocation would have “political consequences.”