A group of 33 former employees of the Central Bank of Nigeria (CBN) has filed a lawsuit at the National Industrial Court in Abuja, seeking N30 billion in compensation for what they describe as wrongful dismissal during a large-scale restructuring exercise in 2024.
The claimants, represented by their lawyer, Okwudili Abanum, argue that their terminations violated constitutional provisions, internal policies, Nigerian labour laws, and contractual rights.
They are demanding reinstatement, payment of back salaries, and damages for the psychological and reputational harm caused by their alleged unfair dismissal.
The dispute stems from termination letters issued on April 5, 2024, titled “Reorganisational and Human Capital Restructuring.”
The claimants allege that the process was arbitrary, illegal, and unconstitutional.
According to them, the CBN failed to provide fair hearing or consult the Joint Consultative Council, as required under Article 16.4.1 of the bank’s Human Resources Policies and Procedures Manual (HRPPM).
They claim they were given only three days to vacate their positions and hand over official property, a move they describe as abrupt and unfair.
Legal Demands
The former employees are asking the court to:
- Declare their termination null and void.
- Issue a restraining order preventing the CBN from terminating staff without due process.
- Reinstate them with full benefits and salaries from the date of termination.
- Award N30 billion in damages for hardship, distress, and reputational harm.
- Grant an additional N500 million to cover the cost of the lawsuit.
Meanwhile, the CBN, through its legal counsel led by Senior Advocate of Nigeria (SAN) Inam Wilson, has filed a preliminary objection to the claim.
The bank insists that the restructuring was carried out in compliance with its policies and denies any violations.
In December 2024, the CBN released a statement asserting that the early exit packages offered during the restructuring were voluntary and came without negative repercussions for eligible staff.
During the first hearing on November 20, 2024, Justice O.A. Osaghae reviewed the case and urged both parties to seek an amicable resolution in line with Section 20 of the National Industrial Court Act (NICA) 2006.
“This is a new matter, mentioned for the first time. I encourage the parties to explore amicable settlement,” Justice Osaghae stated.
The court has adjourned the case to January 29, 2025, to hear arguments on the CBN’s preliminary objection.
9News Nigeria reports that in 2024 the CBN terminated the appointments of approximately 1,000 employees in four batches between March and May.
While the layoffs were officially attributed to “reorganisation and human capital restructuring,” affected staff claim the process breached the CBN Act, which mandates board approval for major employment decisions.
