“Wrongful Termination”: Over 100 Sacked CBN Staff Go to Court, List Demands

• Former employees of the Central Bank of Nigeria have filed lawsuits challenging their recent dismissal
• As part of the cleanup under Godwin Emefiele's regime, numerous CBN staff members were relieved of their jobs
• The now-former employees of the CBN believe that the action was unjust and are seeking redress in the National Industrial Court

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Central Bank of Nigeria (CBN) has been dragged to the National Industrial Court (NIC) by over 100 of its staff, who were recently sacked under the bank's re-organisation strategy by President Bola Tinubu's administration.

The sacked staff are demanding payment for damages and entitlements, among others.

Legit.ng earlier reported that President Tinubu announced that there would be a thorough house cleaning at the CBN in his inauguration speech.

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Part of the speech reads:

"Thorough house cleaning is necessary, the Central Bank of Nigeria (CBN) must work towards a single exchange rate."

Staff demands compensation

Some staff affected by the re-organisation felt they were wrongfully dismissed while still having years left in their service and decided to seek compensation.

Reports have it that over 100 suits have been filed, and the lead counsel to some of the affected staff, Ola Olanipekun (SAN), said his clients approached the court to enforce their right to a fair hearing.

Ola Olanipekun (SAN) stated that the wrongful actions of the Central Bank of Nigeria have caused significant damages to his clients, amounting to hundreds of millions of naira.

He requests the court to order the bank to pay the claimants their monthly salaries, allowances, and other entitlements.

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For one client who earns N1,621,455.70 monthly and was unlawfully terminated with nine years of service remaining, Olanipekun is seeking an order to pay N178,360,127.00 for the remaining service.

He is also demanding N100,000,000.00 in general damages for wrongful termination.

He also demands N30,000,000.00 for litigation costs and 21% post-judgment interest on all awarded sums until fully paid.

Moghalu speaks on CBN's staff relocation

Legit.ng reported that Kingsley Moghalu has expressed his opinion on the recent announcement by the CBN to relocate some of its staff from Abuja.

The move has been reported to have generated concerns and silent protests from affected CBN staff.

The Central Bank of Nigeria has its headquarters in Abuja, and its satellite offices are nationwide.

Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng

Source: Legit.ng