Nigeria: 100 sacked CBN staff sue apex bank for damages

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The Central Bank of Nigeria (CBN) has been taken to the National Industrial Court (NIC) by over 100 of its recently sacked staff, who were dismissed under the bank’s re-organisation strategy implemented by President Bola Tinubu’s administration.

The affected staff are seeking payment for damages and entitlements, among other claims.

More than 100 lawsuits have been filed by the dismissed employees, challenging what they describe as their abrupt and unjust termination while still having years of service remaining.

Mr Ola Olanipekun (SAN), the lead counsel for some of the affected staff, made the court documents available to select journalists in Jos on Thursday. He explained that his clients approached the court to enforce their right to a fair hearing, claiming they were unjustly sacked by the CBN.

Olanipekun asserted that the unlawful actions of the apex bank have caused substantial damages to his clients, amounting to hundreds of millions of Naira. The claimants are asking the court to order the CBN to pay them their monthly salaries, allowances, and other emoluments and entitlements.

One of Olanipekun’s clients, who still had nine years of service left, would have earned a sum of N1,621,455.70 monthly, according to his salary records. The claim includes all the earnings the claimant would have received had his employment not been unlawfully terminated, amounting to N178,360,127.00 from the date of his termination until his lawful retirement date of August 4, 2033.

The claimant is also seeking N100,000,000 as general damages for the wrongful termination of his employment contract. Additionally, they are demanding N30,000,000.00 for the cost of litigation, with 21 per cent post-judgment interest per annum on all judgement sums awarded, from the date of judgement until the entire sum is paid.

Olanipekun explained that the Originating Summons, dated August 22, 2024, is supported by a 27-paragraph affidavit deposed by the claimant.

The CBN had sacked about 200 of its staff in May 2024 through a letter titled “Re-organisation of the CBN,” a move that has unsettled the affected employees, who are now demanding their entitlements and compensation for damages.