Around 100 former staff members of the Central Bank of Nigeria (CBN) have taken legal action against the bank at the National Industrial Court, demanding compensation for damages following their recent dismissal.
In May 2024, the administration of Yemi Cardoso terminated approximately 200 CBN employees as part of a reorganization strategy. The dismissed employees are now seeking full payment of their monthly salaries, allowances, and other benefits they would have received if they had remained employed until their retirement.
Lead Counsel for the dismissed staff, Ola Olanipekun (SAN), shared the court documents with journalists in Jos, Plateau State, on Thursday. Olanipekun explained that the former employees are challenging what they describe as an unjust termination.
“The unlawful actions of the CBN have caused significant financial harm to our clients, amounting to hundreds of millions of Naira,” Olanipekun stated.
“We are requesting the court to mandate that the bank pay all claimants their due salaries, allowances, and other entitlements.”
Olanipekun elaborated on the specific claims, noting that one client, who had nine years remaining in his service, would have earned ₦1,621,455.70 monthly if his employment had not been terminated. The claim includes a demand for ₦178,360,127.00 in unpaid salaries and allowances from the date of termination until his anticipated retirement on August 4, 2033.
Additionally, the lawsuit seeks ₦100 million in general damages for wrongful termination and ₦30 million to cover litigation costs. The claim also includes a request for 21% post-judgment interest per annum on all awarded sums, starting from the date of the judgment until full payment is made.
The Originating Summons, dated August 22, 2024, is supported by a 27-paragraph affidavit sworn by one of the claimants. Olanipekun emphasized that the legal action aims to enforce their rights and seek justice for the wrongful dismissals.
