Senator Ali Ndume has faulted the planned relocation of some departments of the Central Bank of Nigeria (CBN) from Abuja to Lagos but is confident President Bola Tinubu’s government will reverse the move.

Some of the CBN departments targeted for relocation are the Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department.

But Senator Ndume, who represents Borno South, has kicked against the plan, citing several reasons. According to him, while proponents of the move are citing more commercial activities going on in Lagos, such an argument does not hold water. He wondered why all oil exploration companies did not have their activities moved to the oil-producing Niger Delta region.

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