News

CBN Decongests Dead Office, Moves Departments To Lagos

Published

2 years ago

January 13, 2024

Editor

The Central Bank of Nigeria is set to transfer some of its departments to Lagos State.

This was stated in an Internal memo made available to The PUNCH on Saturday.

The move, according to an official of the CBN who spoke on condition of anonymity, is to decongest the apex bank’s head office.

Although some staff members of the bank have reportedly resisted the transfer and claimed that it is motivated by tribal sentiment, the source said it is for their safety and increased productivity.

“What is happening now at the CBN is likened to a company with over 500 staff and say 200 used to go to work in other states and return to the head office. It is not out of place for the company to relocate them fully to that state to work and increase their safety and productivity,” he said.

The official stated that only some departments of the apex bank, including the Bank Supervision Department, were affected by the transfer.

He stated that the move is meant to increase the productivity of the affected staff while also cutting costs and ensuring their safety.

The PUNCH gathered through the official that the departments penciled down for relocation by the CBN Governor, Yemi Cardoso are Banking Supervision; Other Financial Institutions Supervision; Consumer Protection Department; Payment System Management Department and Financial Policy Regulations Department.

”Most of the bank’s headquarters are in Lagos. The CBN usually sends staff from Abuja to work in Lagos for like one to two months and return to the head office.

“Being on the road all the time is not safe for them and not also cost-efficient for the bank. We know that anybody leaving their comfort would feel the pain, that is why some of the affected workers are complaining but I can assure you that, it is for their good,” he said.

He also noted that the carrying capacity of the Abuja office is 3 000 but the staff strength is at 4 000 now which is a threat to the facilities at the head office.

“Abuja office is designed to carry about 3 000 staff but we are 4 000 already. The facility managers have already warned of the implication; the security of staff is also at stake with the increased number because it overwhelms the managers,” the official stated.

Excerpts from the memo obtained 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.

“This action is necessitated by several factors, including the need to align the Bank’s structure with its functions and objectives, redistribute skills to ensure a more even geographical spread of talent and comply 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.

“The action plan focuses on optimising the utilisation of other Bank’s premises. With this plan, 1,533 staff will be moved to other CBN facilities within Abuja, Lagos and understaffed branches.

“Our current occupancy level of 4,233 significantly exceeds the optimal capacity of 2,700 designed for the Head Office building. This overcrowding poses several critical challenges:

“Safety Concerns: The building’s infrastructure was designed for a specific number of occupants. Exceeding this capacity has raised safety concerns, increased health and accident risks – and hinders efficient emergency evacuation.

“Reduced Efficiency: Crowded workspaces are negatively impacting productivity and collaboration. Additionally, overstretched facilities have led to increased maintenance costs.

“Structural Integrity: The building’s integrity can be compromised by exceeding its designed capacity.”

The memo further said the decongestion would also improve the apex bank’s operational and workflow efficiency.

“Strategic alignment: The decision to redistribute departments and staff is rooted in a strategic approach to align the structure of the Bank with its functions and objectives. Certain departments may be better suited to operate in proximity to Financial Institutions’ head offices, which are predominantly located in Lagos. This strategic alignment ensures optimal collaboration and efficiency,” the memo stated.

News

PHOTOS: Brazil Welcomes Tinubu With Full Military Honours In Brasília

Published

8 hours ago

August 25, 2025

Editor

Brazil on Monday rolled out full military honours at the Planalto Palace in Brasília to receive President Bola Tinubu.

Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed this on X on Monday.

Onanuga said Tinubu was welcomed by his host, President Luiz Inácio Lula da Silva.

He wrote, “More photos of the official reception for President Tinubu at the Planalto Palace in Brasília, Monday, August 25, 2025. Brazil’s President Luiz Inácio Lula da Silva welcomed President Bola Tinubu with full military honours.”

News

Tinubu Signs Direct Flight, Other Agreements With Brazil

Published

8 hours ago

August 25, 2025

Editor

President Bola Ahmed Tinubu has signed a landmark Bilateral Air Service Agreement with Brazil, signalling the establishment of direct air links between Nigeria and South America’s largest economy.

The agreement was formalised on Monday during Tinubu’s official state visit to Brasília.

Media aide to the minister, Tunde Moshood, made this known through a statement, made available to The PUNCH.

At the signing ceremony which was witnessed by Messrs Nigerian President, Tinubu and the Brazilian President Luiz Inácio Lula da Silva in Brasilia also had the Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, signed the agreement on behalf of Nigeria, while Brazil’s Minister of Transport, Silvio Costa Filho, also signed for the host country.

The BASA creates a new framework for direct flights between Nigeria and Brazil, with the potential to significantly enhance trade, tourism, investment, and diplomatic relations.

The statement further noted that, “ It also marks a key step in Nigeria’s broader efforts to strengthen international partnerships and improve global connectivity.”

Tinubu had arrived in Brazil with a delegation that included Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of State for Foreign Affairs, Bianca Ojukwu; Minister of Agriculture and Food Security, Abubakar Kyari; and other senior government officials.

According to the statement, the Brazilian President welcomed the agreement, expressing his administration’s commitment to expanding cooperation with Nigeria in sectors such as aviation, agriculture, and infrastructure.

He described the BASA as a reflection of the strong ties between both countries and an opportunity to deepen economic and cultural collaboration.

Tinubu is also scheduled to hold meetings with key Brazilian government officials, including the President of the Senate, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

The two-day visit will include high-level discussions between Nigerian and Brazilian delegations across various sectors, as both nations explore opportunities for mutual growth and development.

The statement reads, “The ongoing state visit will also see President Tinubu meeting the President of the Brazilian Senate at the National Congress, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

“The working visit, which continues tomorrow, will also feature high-level engagements between Nigerian and Brazilian delegations across various sectors, underscoring both nations’ commitment to building a future of mutual growth and prosperity.”

News

NAFDAC Warns Of Fake Postinor-2 In Circulation

Published

8 hours ago

August 25, 2025

Editor

The National Agency for Food and Drug Administration and Control on Monday issued a public alert, warning the public about confirmed counterfeit batches of Postinor-2 (Levonorgestrel 0.75 mg) now circulating in Nigeria.

The alert follows a report from the Society for Family Health, the marketing authorisation holder, confirming that they did not import the suspect batches.

Postinor-2 (Levonorgestrel 0.75mg) is a brand of emergency contraceptive pill containing the active ingredient levonorgestrel.

NAFDAC revealed there are noticeable labelling discrepancies between the authentic and fake products.

It said, “The National Agency for Food and Drug Administration and Control (NAFDAC) hereby notifies the public of falsified Type 1 and 2 batches of POSTINOR 2 (Levonorgestrel 0.75mg) product in circulation.

“The noticeable difference was found to be as follows: The font size of the text on the pin verification sticker appears smaller and has a wrong spelling of the word Veify instead of Verify on the fake; meanwhile, the text font on the sticker of the original appears bigger and more visible. There is also a wrong spelling behind the pack of the fake “Distnibuted in Nigeria” instead of distributed in Nigeria”, NAFDAC said.

NAFDAC identified the original Postinor-2 as batch T32458H, manufactured in February 2023 with an expiry date of February 2027 and registration number 04-6985.

The agency, however, confirmed two falsified versions: Counterfeit Product (Type 1), batch T36184B, manufactured in August 2024 with an expiry date of August 2028; and Counterfeit Product (Type 2), batch 332, manufactured in March 2023 with an expiry date of February 2027, both carrying the registration number 04-6985.

It said that due to the potential presence of incorrect, substandard, or harmful ingredients, improper dosages of levonorgestrel, and a lack of sterile manufacturing conditions, poses significant risks to individual health and public safety.

“The risks of administering falsified Postinor 2 (Levonorgestrel 0.75mg) include failure of contraceptive effect, toxic or harmful contaminants, unpredictable side effects, delayed or missed opportunity for genuine emergency contraception, and potential long-term reproductive health impact. Unexpected side effects: Unknown substances can trigger allergic reactions, organ damage, or death.

“Counterfeit medicines are unregulated, untested, and illegal, making their safety and efficacy impossible to guarantee. Patients should only obtain Postinor-2 from verified pharmacies or licensed healthcare providers.

“Although Investigations are still ongoing regarding the source of the falsified product, all NAFDAC zonal directors and state coordinators have been directed to carry out surveillance and mop up the falsified product of type 1 and 2 postinor 2 (Levonorgestrel 0.75mg) within the zones and states,” it added.

NAFDAC urged consumers and healthcare providers to verify PIN stickers carefully, report suspected counterfeit products, and always purchase medications from reputable sources.