CBN sued by over 100 ex-staff for alleged unfair dismissals

Business a.m. reporter

More than 100 former staff members of the Central Bank of Nigeria (CBN) have turned to the National Industrial Court (NIC) for justice, following their recent dismissal under President Bola Tinubu’s administration’s re-organisation strategy. The affected workers have demanded that the CBN pay damages and entitlements, as their termination of employment was deemed unlawful.

Ola Olanipekun, the lead counsel for some of the affected workers, speaking on behalf of his clients, stated that the dismissed staff are seeking to enforce their fundamental right to a fair hearing.

The sudden dismissal, Olanipekun asserted, has caused his clients significant financial and emotional harm, with damages running into hundreds of millions of naira.

He further stated that his clients are praying the court to ensure that the CBN pays them their monthly salaries, allowances, and other emoluments/entitlements, including all other benefits and entitlements due to them.

Adding to the severity of the matter, Olanipekun identified one of his clients who had nine years of service left with the Bank.

According to the senior legal practitioner, if this client’s employment had not been unlawfully terminated, he would have earned, on a monthly basis, a sum of N1,621,455.70, as evidenced by his salary payment records.

The magnitude of the losses suffered by this particular client is further emphasised by his prayer to the court, which seeks an order that the CBN shall pay all monthly salaries and allowances that he would have earned during the course of his service/employment, amounting to N178, 360,127.00. This figure represents the amount that the client would have received in salary and benefits from the date of his unlawful termination until his lawful retirement date of August 4, 2033.

Moreover, Olanipekun stated that his client is also seeking compensation in the form of general damages against the CBN, amounting to N100 million, for wrongful termination of his contract of employment.

In addition to the general damages, Olanipekun has also requested that the CBN pay his client the sum of N30,000,000.00 as the cost of litigation/prosecution of the suit.

Furthermore, the counsel has requested that the defendant pay a post-judgment interest rate of 21 percent per annum on all judgement sums awarded, from the date of judgement until the entire judgement sum is fully paid or settled.

In his efforts to provide further clarity, Olanipekun disclosed that the Originating Summons filed on August 22, 2024, was accompanied by a supporting affidavit containing 27 paragraphs, which had been sworn to by the claimant himself.

The CBN had reportedly sacked over 200 of its staff in May 2024, in what it termed a restructuring plan. This action has understandably left the affected employees in a state of upheaval, prompting them to seek legal remedies to enforce their rights and secure compensation for their losses and damages.