A legal dispute has emerged between the Central Bank of Nigeria (CBN) and a group of former employees who were recently dismissed during a mass layoff at the institution. The affected staff members have filed a case at the National Industrial Court, challenging the legality of their termination and accusing the apex bank of breaching labor laws and internal policies.
In court documents filed on July 4, 2024, the plaintiffs argued that their dismissal violated their constitutional right to a fair hearing. They claim the termination letters, titled “Reorganisational and Human Capital Restructuring” and issued on April 5, 2024, were arbitrary, illegal, and in breach of the CBN’s human resources policies and procedures manual.
The lawsuit, a class action led by counsel Okwudili Abanum, names over 30 claimants, including Stephen Gana, Kabiru Idris, Benedict Agbo, and Eleanor Ihua. The group is seeking multiple reliefs, including a court declaration nullifying their dismissal, reinstatement to their positions, payment of salaries and benefits from the date of termination, and general damages amounting to N30 billion for psychological and reputational harm. Additionally, they are demanding N500 million to cover legal costs.
The claimants further allege that the process leading to their termination lacked due consultation and failed to adhere to established labor laws. They have requested a restraining order to prevent the CBN from conducting dismissals without following proper procedures.
During the case’s first mention on November 20, 2024, Justice O. A. Osaghae encouraged both parties to explore an amicable resolution. Referencing Section 20 of the National Industrial Court Act 2006, the judge remarked, “Parties should attempt an amicable resolution of this dispute.”
The Central Bank’s legal team, led by Inam Wilson, indicated they had filed a preliminary objection to the claims on November 4, 2024. The case was subsequently adjourned to January 29, 2025, for a hearing on the objection.
According to Sahara Reporters, during the ongoing legal proceedings, the CBN Governor, Olayemi Cardoso, clarified the bank’s position while addressing a House of Representatives investigative hearing. Represented by Bala Bello, Deputy Director of Corporate Services, Cardoso explained that over 1,000 staff members had voluntarily exited through the Early Exit Programme, which included full benefits. He described the initiative as part of a restructuring effort aimed at optimizing organizational performance and ensuring proper role alignment within the bank.”
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The unfolding case highlights ongoing tensions over employment practices and restructuring within Nigeria’s apex bank.
