Chief Goddy Uwazuruike, a lawyer and a prominent member of Ohanaeze Ndigbo Worldwide, has supported the Federal Government’s decision to relocate some departments of the Central Bank of Nigeria (CBN) to Lagos.
According to Uwazuruike, who disclosed this during an interaction with the znstion on Thursday, said the move would reduce time and costs.
He added that the move would make processes more efficient, effective and beneficial for the banking sector in the country.
He mentioned the regular meetings between the CBN governor and the bank CEOs as a main reason for the move.
He also urged that the decision should not be seen as a political issue, but as a way to improve operational performance.
Uwazuruike also pointed out that the move would help the CBN to run its operations smoothly and to monitor the banking sector closely.
In his words, “This move is intended to reduce time and expenditure in the performance of statutory duty, rather than being a relocation to Lagos, as some have argued.
“The relocation is expected to streamline processes, improve efficiency, and have a significant impact on the banking sector in Nigeria.”
“The new location in Lagos will allow for more convenient access, enabling 10 CBN executives to efficiently meet with over 200 banks.
“Additionally, the relocation will facilitate CBN supervisors’ ability to conduct unannounced visits to banks, enhancing their oversight capabilities.”