Northern Elders Reject Mass Transfer Of CBN Staff To Lagos

The Northern Elders Forum (NEF) has advised the Central Bank of Nigeria (CBN) against transferring essential departments from Abuja to Lagos State, expressing concern that such a relocation could result in a brain drain.

NEF emphasized that this move might cause a temporary disruption in the operations of the CBN, potentially affecting the bank’s overall performance and efficiency adversely.

The Director of Publicity and Advocacy of NEF, Abdul-Azeez Suleiman, asserted that the proposed relocation would bring about heightened expenses, diminished coordination, regional economic imbalances, and hindered economic development in northern Nigeria, among other potential consequences.

A statement by Suleiman reads partly: “It would require significant financial investment as the CBN would need to allocate funds for setting up new offices, purchasing or leasing properties, relocating employees, and other infrastructural requirements.

“This would strain the CBN’s budget and divert resources away from other essential functions and initiatives.

“Moving key departments to Lagos may lead to a loss of skilled employees who are unable or unwilling to relocate. This brain drain could negatively impact the CBN’s performance and efficiency.

“Relocation would lead to a temporary disruption in the CBN’s operations.

“Employees would need time to adjust to their new surroundings, potentially causing delays in decision-making and implementation.“