Over 100 sacked Central Bank of Nigeria (CBN) employees have filed lawsuits against the apex bank at the National Industrial Court (NIC), seeking compensation and general damages following their recent dismissal.
The layoffs were reportedly part of a reorganization strategy implemented by the administration of President Bola Tinubu. The plaintiffs, who argue that their terminations were abrupt and unjust, are demanding payment for outstanding salaries, allowances, and other entitlements.
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Mr. Ola Olanipekun (SAN), Lead Counsel for some of the affected staff, presented court documents to journalists in Jos, Plateau State, stating that the legal action aims to enforce the plaintiffs’ rights to a fair hearing. “The unlawful actions of the apex bank have caused monumental damages to my clients, amounting to hundreds of millions of Naira,” Olanipekun said. “We are asking the court to ensure that the CBN pays all claimants their due monthly salaries, allowances, and other entitlements.”
Olanipekun highlighted a case involving one claimant who had nine years of service remaining. The individual would have earned N1,621,455.70 monthly if the employment had not been terminated. The council is requesting the court to order the CBN to pay N178,360,127.00, covering the period from the termination until the claimant’s expected retirement date on August 4, 2033.
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Additionally, the claimant is seeking N100,000,000 as general damages for wrongful termination, along with N30,000,000 to cover litigation costs. They also request a 21% post-judgment interest per annum on all awarded sums until fully paid, plus any further orders the court deems appropriate.
The lawsuit, initiated through an Originating Summons dated August 22, 2024, is supported by a 27-paragraph affidavit submitted by the claimant.
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This follows reports in May 2024, which detailed the mass layoffs under the CBN’s reorganization strategy.
