The Central Bank of Nigeria (CBN) is grappling with a slew of lawsuits from former workers who were dismissed as part of the bank’s restructuring drive, sources reveal.
News About Nigeria learnt that over 100 legal claims have been lodged by affected staff members, disputing the fairness of their termination and pursuing payment of owed benefits.
The mass layoff, which occurred on May 24, 2024, was part of a broader reorganisation effort by the CBN under the administration of President Bola Tinubu.
However, the affected personnel have argued that the process was “unfair” and did not follow due procedure.
Their lead counsel, Mr. Ola Olanipekun, said the case has been taken to the National Industrial Court in Abuja, seeking justice for his clients.
Olanipekun said that the CBN’s actions were unlawful and resulted in significant financial losses for the claimants.
He is seeking compensation for his clients, including unpaid salaries, allowances, and other entitlements, as well as N30 million in legal costs.
Olanipekun is also requesting a 21% post-judgement interest per annum on any awarded sums, to be paid from the date of judgement until the full amount is settled.
The claim is supported by a 27-paragraph affidavit from the claimants, detailing their grievances against the CBN.
The affidavit outlined the circumstances surrounding their dismissal, including allegations of unfair treatment and lack of due process.
The claimants are seeking a declaration that their termination was unlawful and are asking the court to order the CBN to pay all outstanding benefits and entitlements.
The legal battle between the CBN and its former employees has significant implications for the banking sector and the broader economy.
