Sanusi Lamido Endorses CBN’s Plan to Move Departments to Lagos

Former Emir of Kano, Sanusi Lamido Sanusi, has voiced his support for the Central Bank of Nigeria’s (CBN) decision to relocate select departments from Abuja to Lagos.

Sanusi, who also served as the Governor of the CBN, emphasized the pragmatic advantages of such a move and highlighted the larger infrastructure capacity available in the commercial hub of Lagos.

His endorsement comes amid escalating controversies spurred by the decision, particularly from the Northern political echelons, who fear economic disparities between regions might worsen with the relocation.

The former Emir urged the current CBN Governor, Olayemi Cardoso, to remain steadfast in the face of mounting political pressures opposing the move.

Sanusi’s counsel underscores the importance of maintaining principled decisions despite vocal dissent, suggesting that yielding to political pressure could set a detrimental precedent for the institution.

Drawing from his own experiences, Sanusi recounted instances where he faced similar opposition, particularly during his efforts to license non-interest banks.

Despite the initial uproar, he persevered, eventually normalizing the regulatory landscape.

Sanusi disclosed that during his tenure, he had contemplated a similar relocation plan but was unable to execute it due to logistical constraints.

His vision entailed centralizing certain operational aspects in Lagos while retaining critical functions in Abuja, a strategy he deemed strategically sound.

Addressing concerns about office infrastructure and staff readiness, Sanusi challenged assertions of inadequacy, suggesting that renowned construction firm Julius Berger could provide clarification if necessary.

He also dismissed claims that the move would disrupt the CBN’s nationwide operations, emphasizing the importance of prioritizing the institution’s strategic objectives over individual preferences.