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Despite Controversy, 1,500 CBN Staff to Resume at Lagos Office Friday
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At least 1,500 members of staff of the Central Bank of Nigeria will on Friday resume at its Lagos office following their redeployment from the headquarters, according to The Punch.
A source at the apex bank told our correspondent exclusively that the plan, though heavily criticised, was still in motion, and affected staffers would be resuming on Friday.
“Yes, the plan is still on and they will resume work by February 2, which is the first week of next month,” an official said.
The latest development comes on the backdrop of the decision of the new management to relocate some of CBN’s departments to the country’s economic hub for staff safety, increased productivity, and to decongest its head office.
CBN said the action was necessitated by several factors, including the need to align the bank’s structure with its functions and objectives and redistribute skills to ensure a more even geographical spread of talent.
It added that it was also in compliance 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.
A memo issued to staff read, “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action 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.”
According to reports, the departments penciled down for relocation by the CBN governor Yemi Cardoso include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department.
Although the Northern Elders Forum and some other Northern groups had condemned the move, our correspondent gathered that the CBN governor was committed to implementing it, as it is expected to reduce the HQ occupancy level to 2,733 personnel from 4,233.
Another source told the PUNCH that some of the affected staffers had started relocating to Lagos.
“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 hinted.
The NEF had, in a statement, expressed worry over the potential negative impact of relocating those essential departments on both the institution itself and the country as a whole.
“The movement would involve increased costs, loss of talent, disruption in operations, reduced coordination, regional economic disparities, impaired economic development in Northern Nigeria, and decreased investor confidence in the nation’s economy.
“Therefore, relocating them entirely to Lagos will only serve to further strengthen the already dominant position of Lagos, while potentially weakening the significance and role of Abuja,” it claimed.
More so, the Chief Whip of the Senate, Senator Ali Ndume, warned that there would be “political consequences” if the plan to relocate some departments of CBN as well as the corporate headquarters of Federal Airports Authority of Nigeria to Lagos were implemented.
He said, “Those misleading the President are not doing him any good because this is going to have some political consequences. If Tinubu were not elected president, the CBN governor would not be there. It was not Lagos votes that put Tinubu there.”
Northern senators and youths also expressed displeasure over the move, which they claimed was a calculated move to short-change the North.
Headlines
2027: Wike, Soludo, Adeleke Listed in APC’s Revised Presidential Campaign Council
The All Progressives Congress (APC) has named Nyesom Wike, Minister of the Federal Capital Territory (FCT); Ademola Adeleke, Osun State governor; and Chukwuma Soludo, Anambra State governor, as campaign coordinators in its expanded presidential campaign council for the 2027 general election, despite their affiliations with other political parties.
Wike belongs to the Peoples’ Democratic Party (PDP), Soludo is a member of the All Progressives Grand Alliance (APGA), while Adeleke won re-election as Osun governor in 2026 under the Accord Party.
Under the new arrangement, Wike will coordinate the APC campaign in Rivers State and the FCT, Soludo will oversee Anambra, while Adeleke will coordinate the campaign in Osun.
The expanded list is scheduled for inauguration by President Bola Tinubu at the Presidential Villa in Abuja on Wednesday.
The APC initially released its campaign council list on August 22, naming Abdulaziz Yari, former Zamfara governor, as director-general. Senate President Godswill Akpabio, House of Representatives Speaker Tajudeen Abbas and Yobe Governor Mai Mala Buni were appointed deputy director-generals.
In the revised list, Akpabio, Abbas and Kwara Governor AbdulRahman AbdulRazaq are deputy vice-chairmen I, II and III, respectively, while Buni becomes deputy director-general I for the North.
The council also includes former governors and party chieftains as advisers, which include former APC national chairmen Adebisi Akande and Abdullahi Adamu; former Ogun State Governor Ibikunle Amosun; former Osun State Governor Iyiola Omisore; Senator Ibrahim Dankwambo; Senator George Akume; former Ogun State Governor Segun Osoba; and Wale Edun. Obafemi George is listed as an adviser on media.
The Directorate of Election Planning, Coordination, Monitoring and Mobilisation, established ahead of the 2027 general election, has Faleke as Deputy Director-General, with Stella Okotete and Engr. Abdullahi Garba Ramat serving as Secretary I and Secretary II, respectively. Audu Maikori is also listed as a secretary.
Other members of the directorate include Soares Omotola, Bashir Dabo, Sheriff Mohammed Usman, Jibrin Bancir, Ayoola Peter Olajolo, Abubakar Sadiq Sada and Princess Folasade Ogunbiyi.
Headlines
Your One Month Petrol Price Discount Medicine After Death, Obi Tells Tinubu
The Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has questioned how the Federal government’s 30-day petrol price discount would reduce poverty, unemployment, insecurity and inequality in the country.
Obi raised the questions in a statement posted on his X platform on Sunday, describing the initiative as a reactive policy that substitutes political optics for sound economic planning.
He argued that the discount, which he said amounts to less than five per cent of petrol costs, is unlikely to address the wider economic challenges facing Nigerians.
“The announcement by the APC-led Federal government offering a 30-day discount on price of petrol to relieve the acute hardship and hunger caused Nigerians by its unplanned removal of subsidy can only be described as another very reactive and confused approach to governance that is now the culture of the Tinubu government,” he said.
Obi said he had delayed commenting on the policy to allow time to assess its outcome, but maintains that the measure has not demonstrated a sustainable approach to addressing the country’s economic difficulties.
He recalled that President Bola Tinubu removed the petrol subsidy on May 29, 2023, arguing that the decision was taken without adequate consultation or a proper assessment of its likely effects on the economy and the livelihoods of ordinary Nigerians.
According to Obi, the subsidy removal was followed by other policies, including the floating of the Naira and tax reforms, which he argued are being implemented without proper sequencing and coordination.
He also criticised the government’s handling of multiple budgets, arguing that the combined effect of the policies has contributed to inflation and rising costs of goods and services.
Obi attributed what he described as increasing multidimensional poverty, business closures, unemployment, insecurity, widening inequality and youth migration to the economic pressures arising from the policies.
He also said the policies had weakened the general well-being of Nigerians, insisting that the government should assess their impact before introducing temporary relief measures.
The former Anambra State governor called for a detailed and publicly available regulatory impact assessment of government policies, arguing that such an exercise would help identify their effects and guide necessary adjustments.
He said a government committed to sustainable economic growth should engage stakeholders and ordinary citizens in consultations to develop inclusive policies that improve living conditions and expand economic opportunities.
Questioning the objectives of the petrol discount, Obi asked whether it would increase productivity and exports or whether it was intended to determine if the subsidy should be restored.
“Will it reduce poverty, unemployment, insecurity, and inequality? Will it increase productivity and exports? Is it a test to ascertain if subsidy should be restored? Is it another political gambit in the face of threats of electoral loss in the 2027 election?” he asked.
“Too many questions, no answer!” the former Governor of Anambra State added.
Headlines
2027: Atiku Urges INEC to Disclose Firm Printing Election Materials
The African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has raised concerns over the lack of transparency surrounding the production of sensitive materials for the 2027 general elections, urging the Independent National Electoral Commission (INEC) to disclose the companies handling the printing.
Atiku warned that keeping details of the contracts and the process of selecting contractors from the public could weaken confidence in the electoral process.
In a statement issued by his Director of Strategic Communication, Phrank Shaibu, on behalf of the ADC Presidential Campaign Council, the former vice-president also called on INEC to explain recent changes involving officials in key departments responsible for election operations and information technology.
Reports said that Director Isa Magaji Gum has been moved from the Electoral Operations Department to the Voter Registry Department, while Mrs. Oluyemi Titilayo Adeyemi-Showunmi has been appointed to head Electoral Operations.
Dr. Lawrence Bayode was also identified as head of Information and Communication Technology.
Atiku said the commission has a responsibility to explain the reasons for the changes, and demonstrate that the decisions followed due process.
“These departments are at the heart of election administration. INEC must explain these decisions, publish the criteria applied and show that every appointment and redeployment followed due process, was based on merit and was free from political interference,” he said.
He also asked INEC to confirm or deny reports that Hitech, or a company linked to it, had secured a contract to print sensitive election materials for 2027.
“We are concerned by reports that more than half of the sensitive election materials, including presidential ballot materials, may have been allocated to an undisclosed company reportedly based in France. There are also questions about reports that the Nigerian Security Printing and Minting Plc is handling materials for only 15 to 17 states, while private companies are responsible for the remaining states.”
The former vice-president said Nigerians deserve to know which companies are producing their ballots and how the contracts were awarded.
“Nigerians should not have to depend on unnamed sources to discover who is producing their ballots,” he said.
The statement called for the publication of the names of the contractors, contract allocations, procurement procedures and security arrangements.
Atiku further argued that any contract awarded to Hitech or an associated company would raise questions about the commission’s neutrality.
He cited publicly reported business ties between the Chagoury family, which owns Hitech, and the Tinubu family.
He also referred to controversies surrounding major Hitech contracts under President Tinubu’s administration, including the Lagos-Calabar Coastal Highway project.
However, Atiku said INEC should clearly address the matter if neither Hitech nor any company linked to it has been selected to print election materials.
He also called on the Central Bank of Nigeria to disclose allocations for banknote printing and explain the roles of local and foreign contractors.
“We urge INEC to maximise the capacity of local security-printing firms and ensure that all ballot papers and result sheets are properly secured and accounted for at every stage of the electoral process. Any attempt to manipulate the 2027 elections will be resisted through the ballot, lawful civic action and other democratic means available to Nigerians,” he said.






