Sanusi Lamido Endorses Relocation Of CBN Departments To Lagos
Former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, has expressed his support for the apex bank’s decision to relocate five of its departments from the headquarters in the Federal Capital Territory (FCT) to Lagos.
Sanusi criticised those opposing the move, labelling their stance as detrimental to the bank’s future.
He stressed the importance of prioritising the bank’s interests over personal preferences for staying in Abuja.
Sanusi pointed out that many CBN employees are children of politically exposed individuals who prioritise their personal lifestyle and business interests in Abuja over their responsibilities at the bank.
He believes that moving certain functions to the bank’s larger office in Lagos will enhance operational efficiency and reduce costs.
In his proposal, Sanusi suggested relocating the Financial Systems Stability (FSS) department and most of the Operations department to Lagos, with two Deputy Governors operating primarily from there.
However, he recommended that departments reporting directly to the Governor, such as Economic Policy, Corporate Services, Strategy, Audit, Risk Management, and the Governor’s Office, remain in Abuja.
Sanusi noted that the decision to relocate certain departments should be based on strategic analysis to determine the roles best suited for each location.
Related: President Tinubu Has No Plan To Relocate FCT To Lagos – Presidency
Regarding the capacity of the Lagos office to accommodate additional staff, Sanusi dismissed concerns, suggesting that construction company Julius Berger could confirm the viability of the move.
Additionally, Sanusi advocated for consideration of individual circumstances, showing empathy towards employees who may face challenges relocating, such as young mothers with school-going children or those with medical conditions.
He urged the CBN to concentrate on its primary mandates of controlling the exchange rate and inflation, asserting that success in these areas would fortify the Governor’s position and facilitate the implementation of necessary changes despite resistance.
Sanusi also addressed criticism from Northern politicians regarding the relocation, asserting that principled decisions should override such objections. He recalled his own experience of facing religious opposition when licensing Jaiz Bank, noting that he proceeded with the decision regardless of the criticism.
Sanusi clarified his involvement in the construction of the new Lagos building, crediting Charles Soludo for the design and contract. He said his role in the foundation laying ceremony and utilisation of the building during his tenure as CBN Governor.