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CBN embroiled in legal battle with former employees over ‘unjust dismissal’

...over 100 lawsuits filed against CBN

The Abdul Yemi by The Abdul Yemi
August 23, 2024
in Business
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  • The lead counsel prayed that the court would ensure that the defendant pays all the claimants all their monthly salaries, allowances and other emoluments and entitlements.
  • He explained that the Originating Summons, dated August 22, 2024, is supported by a 27-paragraph affidavit deposed to by the claimants.

The Central Bank of Nigeria is embroiled in a legal battle with former employees who were let go during the bank’s recent restructuring.

The affected staff members have filed over 100 lawsuits challenging their termination and seeking payment of outstanding benefits.

The mass layoff, which occurred on May 24, 2024, was met with resistance from the affected personnel, who claim they were unfairly dismissed.

Their lead counsel, Mr. Ola Olanipekun, has taken the matter to the National Industrial Court in Abuja, seeking justice for his clients.

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Olanipekun argued that the Central Bank’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 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 Central Bank.

 

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