NEF said such a movement would lead to a temporary
disruption in CBN’s operations that could negatively impact the bank’s
performance and efficiency.
The Director of Publicity and Advocacy of NEF, Abdul-Azeez
Suleiman, said the relocation would lead to an increased cost, reduced
coordination, regional economic disparities, impaired economic development in
northern Nigeria, among others.
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.”
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