Former emir of Kano, Sanusi backs CBN's department relocation plans

In response to recent controversy surrounding the Central Bank of Nigeria’s (CBN) decision to relocate certain departments, former Governor and 14th Emir of Kano, Sanusi Lamido Sanusi, provided clarifications and insights.

Sanusi acknowledged misconceptions in previous reports regarding the CBN’s strategy for departmental locations.

He clarified that he did not demolish the old building, giving credit to Charles Soludo for the design and contract of the new Lagos building.

Sanusi participated in the foundation laying ceremony and utilized the building during his tenure at the CBN.

Addressing the notion of a “blueprint,” Sanusi mentioned that there was no official plan, and discussions among governors proposed moving the Directorate of Financial System Stability (DG FSS) and related departments to Lagos, allowing flexibility for meetings in Abuja.

Sanusi expressed regret that the plan, supported by figures like Kingsley Moghalu, was not implemented during his tenure.

He highlighted the strategic sense in relocating certain functions to the larger Lagos office while maintaining key departments in Abuja.

The former governor emphasized the importance of strategic decision-making, suggesting a comprehensive analysis to determine suitable roles for Lagos and Abuja.

He cautioned against miscommunication, stressing that strategic clarity prevents misrepresentation.

Sanusi advocated for empathy in considering individual situations, such as young mothers or those with medical conditions, when implementing such changes.

He urged the CBN to focus on key mandates, particularly exchange rates and inflation, to maintain credibility.

Addressing the opposition and potential political pressure, Sanusi advised the current Governor to stand firm, emphasizing that bending to pressure sets a precedent.

He dismissed regional concerns, asserting that the decision is principled and not a matter of moving from northern Abuja to Lagos.

Sanusi drew parallels with past challenges, recounting religious opposition during the licensing of Jaiz Bank.

Despite the initial resistance, subsequent licensing of non-interest banks went unnoticed.

Sanusi encouraged the CBN to rise above ethnic and religious noise, emphasizing the necessity of tough decision-making for the challenging role of the Governor.