Sanusi Supports Tinubu’s Plan To Relocate Some CBN Dpts to Lagos, Says It’s Sensible

January 25, 2024 9News Nigeria Business, Hot News, National, Politics, Trending News 0

Former governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, has expressed his support for the relocation of certain departments of the CBN from Abuja to Lagos.

Sanusi said he believes that this move is the right decision and dismisses those who oppose it as playing dirty politics. Sanusi made these remarks in a statement released on Wednesday.

Recently, the CBN’s plan to relocate some departments and units to Lagos has faced criticism, particularly from politicians in the northern region who warn of potential political consequences. However, Sanusi, who served as the 14th Emir of Kano, views this relocation as an “eminently sensible move.”

Sanusi argues that transferring certain functions to the larger Lagos office, as opposed to the Abuja head office, is a logical step. He reveals that he had intended to implement a similar move during his tenure as governor but was unable to do so due to time constraints.

“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 operations would be in Lagos,” Sanusi stated.

The former CBN governor believes that this relocation would enhance efficiency and effectiveness within the bank. He emphasizes the importance of considering practicality and long-term benefits rather than succumbing to political pressures.

Sanusi’s endorsement carries weight due to his extensive experience in the financial sector and his previous role as CBN governor. His support for the relocation bolsters the credibility and rationale behind this decision.

While opposition may persist, Sanusi’s authoritative stance lends support to the argument that this move is a strategic and necessary step for the Central Bank of Nigeria. Only time will tell how this relocation will ultimately impact the operations and functioning of the institution.

“Economic policy, Corporate services and all the departments reporting to the Governor directly such as Strategy, Audit, Risk management, Governors’ office etc would remain in Abuja.

“It makes eminent strategic sense. And I would have done this if I had stayed.”

“Moving staff to the Lagos office to streamline operations and make them more effective and reduce cost is a normal prerogative of management.

“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 a 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 can not handle the staff numbers. I am sure Julius Berger would refute that if they wanted to engage.”

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