Highlight

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

"Moving certain functions to the Lagos office (which is bigger than the Abuja head office) is an eminently sensible move"

857

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.”

Leave a comment

Related Articles

May 29: Tinubu orders low-key celebration of first anniversary

President Bola Tinubu’s first anniversary in office on May 29 will be...

Tax Evasion: Absence of Binance official, Gambaryan, in court stalls arraignment

Daniel Okejeme The absence of Binance official Tigran Gambaryan in court on...

I started administering Rivers State eight months after assuming office, says Gov. Fubara

by Daniel Okejeme Rivers Gov. Siminalayi Fubara has said that he started governing...

Plateau, Benue killings, one death too many, says Obi

Daniel Okejeme A former governor of Anambra State, Mr. Peter Obi, says...

Chad PM Submits Resignation To Newly Elected Junta Chief

Two weeks after his defeat to junta chief Mahamat Deby in the...

Banex Plaza attack: A threat to national security – Nigerian Army

Daniel Okejeme The Nigerian Army’s spokesperson, Maj.-Gen. Onyema Nwachukwu has described the...

Rivers Gov. Fubara swears in eight newly-confirmed commissioner-nominees

Daniel Okejeme The Governor of Rivers State, Siminalayi Fubara, has conducted the...

Banex Plaza closure: HURIWA cautions against misusing military troops

By Daniel Okejeme The Human Rights Writers Association of Nigeria (HURIWA) has...

Breaking: OPay, Moniepoint, Others To Resume Onboarding New Customers ‘In Months’ – CBN

The Central Bank of Nigeria (CBN) has announced that mobile money operators,...

Updated: CBN raises interest rate to 26.25% amid rising inflation

The CBN’s Monetary Policy Committee (MPC) has increased the benchmark interest rate...

Popular Abuja pastor in abusive marriage, evicts wife, six children from his house

A popular Abuja pastor (names withheld) has allegedly thrown out his estranged...

Renewed Hope City: FG Launches Portal for Intending Homeowners

The Federal Government has launched the Renewed Hope Cities and Estates portal...

Woman collapses following soldier’s alleged assault at Banex military checkpoint, Abuja

Days after shutting down Abuja’s Banex Plaza over traders attack on a...

Only students from federal institutions will benefit first from student loans scheme, says FG

The Nigerian Education Loan Fund (NELFUND) has announced that only students from...

Bandits break into houses, kidnap 20 residents in FCT’s Dawaki

In a new wave of kidnappings in the Federal Capital Territory, no...

UBA at 75: It’s testament to resilience, innovation, remarkable financial strength – GMD

In its 75 years of operation, the United Bank for Africa (UBA)...

Just in: Few hours after President Raisi’s death, earthquake hits Iran

A few hours after the tragic death of Iran’s President Ebrahim Raisi...

Rivers NSCDC busts nine stolen crude oil refiners extracted from vandalized oil wellheads

The Nigeria Security and Civil Defence Corps (NSCDC) says it has apprehended...

Just in: Court rejects Nnamdi Kanu’s bail, house arrest request

A Federal High Court in Abuja on Monday rejected the plea of...

Nigeria’s oil production nears 1.7mbpd – NNPC Ltd

Nigeria’s crude oil production is approaching 1.7 million barrels per day, according...