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Monday, January 29, 2024

Tinubu’s relocation of CBN to Lagos favours North, South: Mohammed Idris

“These are pragmatic administrative steps to improve operational efficiency and reduce operating costs,” said Mr Idris.

and • January 29, 2024
Mohammed Ndume and Mohammed Idris
Mohammed Ndume and Mohammed Idris

Information minister Mohammed Idris says the relocation of some Central Bank of Nigeria (CBN) departments and the Federal Airports Authority of Nigeria (FAAN) headquarters to Lagos (in the South-West) by President Bola Tinubu favours the North.

Africa’s most populous nation is divided almost equally between North and South.

This came amid opposition to the relocation by the Arewa Consultative Forum (ACF) and some northern politicians, who claimed it was anti-North. 

In a statement on Sunday, Mr Idris said such a claim was aimed at dividing the country. 

“It is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria (FAAN) and of certain departments of the Central Bank of Nigeria (CBN) are political moves aimed at marginalising a section of the country,” the minister said. 

Mr Idris added, “These allegations are unfounded. Instead, these are pragmatic administrative steps to improve operational efficiency and reduce operating costs.”

He urged “all Nigerians to be especially mindful of all persons and groups at home and abroad, who specialise in making false and inciting claims on radio, TV and social media, as well as in peddling altered videos and images for viral dissemination.”

The minister stressed the need for the citizens to “stand together as one, against these forces that constantly seek to test and break the bonds that hold us.”

On Tuesday, Senator Ali Ndume accused the “Lagos boys” of being behind the relocation, which he described as a “mistake” that would soon be reversed. A coalition of northern youths also threatened to organise protests across the 19 northern states to oppose the relocation directive.

In an internal memo last week, CBN said that transferring some departments to Lagos state aimed to decongest the Abuja headquarters and optimise “the operational environment of the bank.”

The affected CBN departments include Other Financial Institutions Supervision (OFISD), Consumer Protection Department (CPD), Banking Supervision (DBS), Financial Policy Regulations Department (FPRD) and Payment System Management Department (PSMD).

But presidential media aide Bayo Onanuga described the northerners castigating Mr Tinubu’s decision as disgruntled northern elements bent on emasculating the incumbent president’s regime.

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