Muhammadu Sanusi II, the former emir of Kano, has clarified his stance regarding the relocation of Central Bank of Nigeria (CBN) staff to Lagos, emphasizing that he did not advocate for moving the CBN headquarters to Lagos.
Sanusi explained that his support was directed towards the right of the CBN to strategically post staff, rather than a call for a full-scale relocation.
In response to the recent announcement by the CBN to move its banking supervision department to Lagos, concerns were raised by the Northern Senators Forum (NSF), prompting engagements with the federal government.
Sanusi, addressing the issue in a private WhatsApp group, dismissed objections to the relocation as politically motivated.
Confirming his statement to TheCable, he clarified, “I didn’t say CBN should relocate to Lagos. Moving certain functions to the Lagos office is an eminently sensible move. It makes eminent strategic sense.”
The former emir acknowledged the existing challenges, noting that some employees, being children of politically exposed persons, prioritize their Abuja-based lives and businesses over CBN responsibilities. Despite expressing support for streamlining operations and reducing costs through staff movements, Sanusi emphasized the need for a proper analysis to identify strategic roles best suited for Lagos and Abuja.
Additionally, Sanusi highlighted the importance of empathy in the decision-making process, suggesting considerations for individual situations such as young mothers or individuals with medical conditions who may not need to relocate.
Addressing broader concerns, Sanusi urged the CBN to focus on key economic indicators such as the exchange rate and inflation to enhance credibility. He emphasized that maintaining control over these factors would strengthen the CBN’s position and allow it to implement changes effectively.
Regarding the ideal structure, Sanusi shared that during his tenure, he had contemplated a similar restructuring, proposing to move certain operational aspects to Lagos while retaining essential departments in Abuja. He advised the current CBN governor to proceed with the planned policy, asserting that succumbing to political pressure could compromise the institution’s autonomy.
In conclusion, Sanusi reiterated that his support was for the strategic posting of staff, not a call for the complete relocation of the CBN headquarters to Lagos. He urged the institution to rise above political pressures and focus on the necessary reforms, emphasizing the importance of maintaining control over its key mandates.
