CBN to Establish 4 Mega Branches Across the Country

The Central Bank of Nigeria (CBN) is planning to have four mega branches in Lagos, Abuja, Kano and Portharcourt in the first quarter of 2017, to beef up other branches operations.

A source from the apex bank said the CBN Governor Godwin Emefiele had in October met with President Muhammadu Buhari on the mega branches and that the president had given him the nod to carry on since it is going to be useful for the apex bank when established.

The source further said the mega branches are going to be headed by full directors instead of other branches, which is being headed by an Assistant Director or a Deputy Director called Branch Controllers.

The mega branches will be ready for emergency movement of cash from their locations to other branches when need arise. And the Branch Controllers will be answerable to this mega branches Directors.

It was learnt that the apex bank will establish more mega branches later in the New Year after the text run of the first four which will come up in the first quarter of 2017.






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