Relocation: CBN headquarters overpopulated – Cardoso


Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has explained that the move to relocate departments and personnel in the bank’s headquarters in Abuja to other branches is due to “overpopulation”.

Cardoso spoke on Monday during an interview on Arise Television.

When asked if the CBN headquarters is over-populated, Cardoso said: “It is over-populated” adding that the bank anticipates that the move will address the concern at the bank’s headquarters in Abuja.

“Quite frankly, anybody that comes to the bank and interacts at the level will see that it is over-populated. We’ve got to see that we are able to manage potential issues that could fall out from an overpopulated environment,” he stated.

READ ALSO: BREAKING: CBN uncovers $2.4b invalid FX claims – Cardoso

He explained further that the CBN, as a national institution, has a presence in every State of the Federation.

However, the apex bank Governor said a situation where staff members with technical skills are located in one particular section could undermine collective efforts.

“So this has really been an attempt to realise that and to ensure that skills are moved from overabundance to where there is a great shortage of these skills,” he said.

The CBN Governor noted that the apex bank regulates banks based in Lagos and those in charge of such oversight should have the right skills to effectively do their jobs.

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