The Central Bank of Nigeria (CBN) has been dragged to National Industrial Court (NIC) by over 100 of its staff that were recently sacked under the bank’s re-organisation strategy by President Bola Tinubu’s administration, demanding payment for damages and entitlements among others
The affected employees, who claim their dismissals were abrupt and unfair, have collectively filed over 100 lawsuits against the apex bank. They argue that their services were terminated prematurely, despite having several years left before their scheduled retirement.
Ola Olanipekun (SAN), the lead counsel representing some of the dismissed staff, revealed the details of the court filings to select journalists in Jos on Thursday.
Olanipekun stated that his clients are pursuing legal action to protect their rights to a fair hearing, arguing that the CBN’s actions have caused them significant financial losses, amounting to hundreds of millions of Naira.
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The claimants are asking the court to compel the CBN to pay their monthly salaries, allowances, and other entitlements that they would have earned if they had remained employed.
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Olanipekun highlighted the case of one claimant who, if not for the sudden termination, would have continued to earn a monthly salary of N1,621,455.70 for the next nine years, in addition to any salary increments due to promotions. The claimant is requesting the court to order the CBN to pay him a total of N178,360,127.00, which represents the amount he would have earned from the date of his dismissal until his expected retirement date of August 4, 2033.
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In addition, the claimant is seeking N100,000,000 in general damages for the wrongful termination of his employment. Furthermore, the lawsuit demands N30,000,000 to cover legal expenses, along with a 21% annual interest on all judgment sums from the date of the court’s decision until the full payment is made.
Olanipekun noted that the lawsuit, supported by a 27-paragraph affidavit sworn by the claimant, was officially filed on August 22, 2024. The legal battle stems from the CBN’s decision to dismiss approximately 200 employees in May 2024 through a letter titled “Re-organisation of the CBN,” leaving many affected staff members seeking justice and compensation for their abrupt termination.
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