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CBN’s decongestion move is a logical decision, it would Reduce Inefficiency and Crowded workspaces, Says Moghalu

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Aformer deputy governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has supported the move by the apex bank to “decongest” its head office in the Federal Capital Territory (FCT), Abuja, describing it as a logical decision.
NEWSTHUMB reports that on January 12, 2024, the CBN issued a circular announcing the commencement of plans to comprehensively “decongest” its Head Office.

The internal memo, from the Director, Human Resources Department to all staff is reportedly designed to align with building safety standards and enhance office space efficiency.

According to the memo, the departments affected include Banking Supervision; Other Financial Institutions Supervision; Consumer Protection; Payment System Management, and Financial Policy Regulations.

“This is to notify all staff members at the CBN Head Office that we have initiated a decongestion plan designed to optimise the operational environment of the bank.

“This initiative aims to ensure compliance with building safety standards and enhance the efficient utilisation of our office space.

“This action is necessitated by several factors, including the need to align the bank’s structure with its functions and objectives, redistribute skills to ensure a more even geographical spread of talent and comply with building regulations, as indicated by repeated warnings from the Facility Manager, and the findings and recommendations of the Committee on Decongestion of the CBN Head Office.

“The action plan focuses on optimising the utilisation of other bank’s premises. With this plan, 1,533 staff will be moved to other CBN facilities within Abuja, Lagos and understaffed branches.“Our current occupancy level of 4,233 significantly exceeds the optimal capacity of 2,700 designed for the Head Office building. This overcrowding poses several critical challenges:

“Safety Concerns: The building’s infrastructure was designed for a specific number of occupants. Exceeding this capacity has raised safety concerns, increased health and accident risks – and hinders efficient emergency evacuation.“Reduced Efficiency: Crowded workspaces are negatively impacting productivity and collaboration. Additionally, overstretched facilities have led to increased maintenance costs.

“Structural Integrity: The building’s integrity can be compromised by exceeding its designed capacity.”The memo further said the decongestion would also improve the apex bank’s operational and workflow efficiency.

“Strategic alignment: The decision to redistribute departments and staff is rooted in a strategic approach to align the structure of the bank with its functions and objectives. Certain departments may be better suited to operate in proximity to financial institutions’ head offices, which are predominantly located in Lagos. This strategic alignment ensures optimal collaboration and efficiency,” the memo partly stated.

Meanwhile the announcement to relocate 1,533 staff to other facilities in Abuja to Lagos stirred mixed reactions, with some workers at the apex bank reportedly expressing “disquiet” about the move.

Some staff of the CBN see the planned decongestion as “a ploy to shed weight”.

A source told our correspondent that some politically exposed staff of the bank have either resigned or been moved to locations outside Abuja. “More are already considering throwing in the towel because they cannot function well outside Abuja or Lagos.”

Subsequently, Moghalu, a political economist and ex-CBN deputy governor weighed in on the discussion via his social media handle yesterday.

He acknowledged that the Lagos office, inaugurated during his tenure 12 years ago, has been underutilised, making the relocation a logical approach in addressing overcrowding in Abuja, especially with regards to the workers’ health and safety limits of the building.

He said: “I don’t see any serious basis for such “disquiet”. A new Lagos Office for the Bank was completed and inaugurated about 12 years ago while I was at the Bank. As far as I can remember, it was under-utilised.

“Meanwhile, the numbers of staff in the Abuja HQ are vastly over the health and safety limits of the building. Moreover, the market entities supervised by the Departments that will move to Lagos are mostly in Lagos. So what’s the problem? Seems a rational decision to me.”

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BREAKING: Ex-NIWA Boss Oyebamiji Clinches Osun APC Governorship Ticket

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The immediate past Managing Director of the National Inland Waterways Authority, Bola Oyebamiji, on Saturday emerged as the consensus candidate of the All Progressives Congress for the forthcoming Osun State governorship election.

Oyebamiji’s emergence followed a motion moved by two governorship aspirants, Kunle Adegoke (SAN) and Senator Babajide Omoworare, at the primary election venue located within the premises of Ebunoluwa Group of Schools, Osogbo.

The Chairman of the APC governorship primary committee and Governor of Edo State, Monday Okpebholo, thereafter subjected the motion to a voice vote, which received overwhelming support from party members present at the primary.

Okpebholo subsequently declared, “By the power conferred on me, I present to you Bola Oyebamiji, as the governorship candidate of our party.”

Newsthumb earlier reported that the APC governorship primary in Osun State commenced in Osogbo, the state capital, with the arrival of the committee chairman, Monday Okpebholo, who noted that the candidate will emerge by affirmation.

APC’s gov candidate Oyebamiji pledges to reposition Osun
He arrived at the venue alongside the co-chairman of the committee, Governor Lucky Aiyedatiwa of Ondo State, and other members of the governorship primary committee, including Governor Abdullahi Sule of Nasarawa State, Dr Obafemi Hamzat, who represented the Lagos State Governor, and former Kogi State Governor, Yahaya Bello.

Earlier on Tuesday, 1660 delegates that would elect the APC candidate in the December 13 governorship primary of the party emerged.

There were also clear indications that the seven APC governorship aspirants in the state had stepped down to back a consensus flagbearer after a late-night meeting with President Bola Tinubu at the State House, Abuja, on Wednesday.

A former APC National Secretary, Senator Iyiola Omisore, on Wednesday, speaking on a TVC News programme, Politics Tonight, declared his support for the party’s arrangement to choose a consensus candidate for the 2026 Osun State governorship election.

Omisore, who was among seven aspirants disqualified by the APC Screening Committee for alleged violations of party guidelines and electoral provisions, said he accepted the decision following guidance from President Bola Tinubu.

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BREAKING: Supreme Court Rejects FG Pardon, Upholds Maryam Sanda’s Death Sentence

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The Supreme Court has overridden the pardon granted by President Bola Tinubu to an Abuja-based house wife, Maryam Sanda, who was in 2020 sentenced to death by hanging for killing her husband, Bilyaminu Bello, during a domestic dispute.

President Tinubu had reduced Sanda’s sentence to 12 years imprisonment on compassionate ground.

But in a judgment a on Friday, the Supreme Court, in a split decision of four-to-one, affirmed the death sentence handed Sanda by the Court of Appeal, Abuja which upheld the decision of a HIgh Court of the Federal Capital Territory (FCT), sentencing her to death by hanging.

The Apex Court resolved all the issues raised in the appeal she filed against her and dismissed the appeal for being without merit.

Court orders woman accused of killing husband to enter defence
Justice Moore Adumein held in the lead judgment, which he personally delivered, that the prosecution proved the case beyond reasonable doubt as required, adding that the Court of Appeal was right to have affirmed the judgement of the trial court.

Justice Adumein held that it was wrong for the Executive to seek to exercise its power of pardon over a case of culpable homicide, in respect of which an appeal was pending.

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He Was Visibly Upset’: Tinubu Orders Clearance of N1.5tr Contractors’ Debt — Onanuga

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….Inter-ministerial panel to fix payment delay

President Bola Ahmed Tinubu has directed the payment of N1.5 trillion owed to local contractors.

He raised a multi-ministerial panel to provide a permanent funding solution during yesterday’s Federal Executive Council (FEC) meeting.

Presidential spokesman Bayo Onanuga said the President was ‘visibly upset’ about the situation.

Onanuga said: “He made it very clear he was not happy and wants a one-stop solution.

“The President expressed grave displeasure about the fact that contractors are being owed.”

According to him, the Director-General of the Bureau of Public Procurement (BPP), Dr. Adebowale Adedokun, briefed the Council on the magnitude of outstanding obligations, prompting the President’s directive to constitute a multi-ministerial team to clear the backlog and come up with a funding plan.

Members of the committee are: Minister of Finance and Coordinating Minister of the Economy Wale Edun, Budget and Economic Planning Minister Atiku Bagudu, Works Minister Dave Umahi, Education Minister Olatunji Alausa, Housing Minister Ahmed Dangiwa and Marine and Blue Economy Minister Gboyega Oyetola.

Others are the Director-General of the Budget Office of the Federation Tanimu Yakubu, and the Federal Inland Revenue Service (FIRS) Executive Chairman, Dr. Zacch Adedeji.

Onanuga added: “All of them are expected to sit down, develop a plan as a committee, and then go to the President to tell him the solution they have found in allocating funds to pay contractors.”

He explained that the President was determined to “find the money and fix the problem,” even hinting that the government could borrow to settle verified obligations if necessary.

The development followed weeks of pressure from contractors, who have repeatedly protested delays in payment of certified arrears.

In September, the All Indigenous Contractors Association of Nigeria (AICAN) claimed during demonstrations in Abuja and at the National Assembly that more than N4 trillion was outstanding for 2024 capital projects.

The Ministry of Works had previously acknowledged a significant backlog and launched a verification exercise in January last year to account for roughly N1.5 trillion in unpaid federal highway contracts.

The issue has been further complicated by overlapping budget cycles, with 2024 capital components rolling into 2025.

Last month, the National Assembly approved an additional N1.15 trillion in domestic borrowing to help cover a widened 2025 deficit.

The government also tapped into the international markets with a $2.35 billion Eurobond to bolster its financing needs.

Also on December 3, members of the AICAN got an audience with Edun on the second day of their protest at the Ministry of Finance.

The protesters demanded payment for the contracts they executed for the Federal Government in 2024.

Also yesterday, Umahi expressed the Federal Government’s resolve to engage reputable indigenous contractors in the execution of critical infrastructural projects.

He dropped the hint during an inspection of the reconstruction of the Abuja-Keffi Highway.

The minister expressed satisfaction over the quality of the works on the road, which was awarded for reconstruction in October to JRB Construction Company Limited, an indigenous contractor.

The Abuja-Keffi dual carriageway project is a critical infrastructure development that aims to improve road connectivity and reduce travel time to Nasarawa State where most of the federal civil servants working in Abuja reside.

The project is expected to be completed in March.

The minister said: “This is the kind of organisation that will grow this country. Be assured that Mr. President is aware of what you are doing. And you are going to be paid to the last kobo.”

Umahi reiterated the government’s commitment to empowering indigenous companies.

He added: “We will continue to support and empower indigenous companies that have the capacity to deliver high-standard projects and contribute to the growth and development of the country.

“The recognition of JRB Construction Company Limited is a testament to the company’s exceptional performance and commitment to delivering high-standard projects.

“The company’s reputation as one of the top indigenous construction companies in Nigeria has been reinforced, and it is expected to continue to play a critical role in the development of infrastructure in the country.”

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