Senator Ali Ndume, representing Borno South, has raised objections to the planned relocation of Central Bank of Nigeria (CBN) departments from Abuja to Lagos.
Specifically targeting departments such as Banking Supervision, Other Financial Institutions Supervision, Consumer Protection, Payment System Management, and Financial Policy Regulations, Ndume is confident that President Bola Tinubu will overturn the decision.
In a recent interview on Channels Television's Politics Today, Ndume argued against the move, emphasizing that the regulators of financial institutions are based in Abuja.
He questioned the rationale behind relocating due to increased commercial activities in Lagos, likening it to not moving oil exploration activities to the Niger Delta region. Ndume's sentiments align with the Arewa Consultative Forum, a socio-political group in northern Nigeria, which also criticized the CBN's decision, seeing it as detrimental to the interests of the north and other regions.
The debate over the relocation unfolds amid concerns about its potential impact on national interests.
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