Nigeria President Misguided by 'Lagos Boys' on Relocation of CBN and FAAN -Ndume

Senator Ali Ndume, representing Borno South Senatorial District, has voiced strong opposition to the proposed relocation of certain Central Bank of Nigeria (CBN) departments and the Federal Airports Authority of Nigeria (FAAN) from Abuja to Lagos. Ndume, the Chief Whip of the Senate, alleges that "Lagos boys" are misleading President Bola Tinubu, asserting that the move is politically motivated and will have severe consequences.

During an interview with Channels Television, Ndume criticized the influence of "political cartels" within the corridors of power, accusing them of misinforming the President and urging him to reconsider the decision. The targeted CBN departments include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment System Management, and Financial Policy Regulations.

While the government cites decongestion and resource optimization as reasons for the relocation, Ndume emphasizes the potential political ramifications. He argues against having two capitals and questions the feasibility of key financial regulators operating from Lagos, stressing the need for regulatory bodies to remain in the nation's capital, Abuja.

Ndume's stance aligns with broader sentiments from various northern stakeholders, including the Arewa Consultative Forum, which rejects the relocation as a deliberate effort to underdevelop the northern region. Despite FAAN's claim that the move aims to curb waste and prevent the decay of its abandoned Lagos building, Ndume maintains that the decision holds political consequences.

As the debate intensifies, the story explores the complexities of the proposed relocations, involving political dynamics, regional considerations, and differing perspectives on the economic and administrative aspects of the decision.