In the face of intense opposition, President Bola Tinubu remains resolute in relocating key departments of the Central Bank of Nigeria (CBN) to Lagos, with approximately 1,500 staff members set to commence work in the state this Friday.
The contentious move, criticized particularly by Northerners, drew concerns from the Northern Elders Forum (NEF). The NEF, in a statement, expressed apprehension about potential adverse effects, citing increased costs, talent loss, operational disruptions, reduced coordination, regional economic disparities, hampered development in Northern Nigeria, and diminished investor confidence in the nation’s economy.Senator Ali Ndume, Chief Whip of the Senate, also cautioned against the relocation, predicting “political consequences” if implemented. He argued that those influencing the President were not acting in his best interest, emphasizing that without Tinubu’s election as president, the CBN governor would not be in office.Despite the backlash, insider sources revealed to Punch that the relocation plan was proceeding as scheduled, with affected staff members expected to resume duties on February 2. One official confirmed, “Yes, the plan is still on, and they will resume work by February 2, which is the first week of next month.”Another source disclosed that some affected staffers had already initiated the relocation process. “Some have already gone ahead. Over 80 per cent of the Banking Supervision Department staff have been redeployed, and the same for the Payment System Department,” the source disclosed, underscoring the ongoing nature of the controversial decision.
