33 Former Employees Sue CBN, Demand ₦30 Billion in Damages

A group of 33 former employees of the Central Bank of Nigeria (CBN) has filed a lawsuit against the apex bank at the National Industrial Court in Abuja, challenging their termination and seeking ₦30 billion in damages.

The claimants, who were laid off during a mass termination in 2024, allege that their constitutional right to a fair hearing was violated and accuse the CBN of breaching internal policies, Nigerian labor laws, and their contractual agreements.

Filed on July 4, 2024, the originating summons outlines multiple grievances, including the claim that the terminations, carried out under the guise of “reorganisation and human capital restructuring,” were arbitrary, illegal, and unconstitutional. The former employees argue that the process disregarded provisions in the CBN’s Human Resources Policies and Procedures Manual, as well as Section 36 of the 1999 Constitution, which guarantees fair hearing.

The former employees, represented by lawyer Okwudili Abanum, are asking the court to:

• Declare their termination null and void.
• Prevent the CBN from taking further termination actions without proper procedures.
• Reinstate their positions with full salaries and benefits retroactive to the date of termination.
• Award ₦30 billion in general damages for psychological distress, hardship, and reputational harm.
• Provide an additional ₦500 million to cover the cost of the suit.

The claimants highlight Article 16.4.1 of the CBN’s HR manual, which mandates consultation with the Joint Consultative Council and adherence to fair procedures before making employment decisions that adversely impact staff. They allege that this provision was ignored, with affected employees given only three days to vacate their positions.

During the case’s first mention on November 20, 2024, Justice O. A. Osaghae encouraged both parties to explore an amicable resolution under Section 20 of the NICA 2006. The CBN, represented by Senior Advocate of Nigeria (SAN) Inam Wilson, filed a preliminary objection to the claimants’ suit, which will be heard on January 29, 2025.

The mass termination occurred in four batches between March and May 2024, affecting around 1,000 staff. While the CBN attributed the layoffs to restructuring, some employees reported receiving severance payments as low as ₦5,000, with others alleging their gratuities were withheld to offset outstanding loans.

On December 4, 2024, the CBN maintained that the early exit package offered to staff was entirely voluntary and free of adverse consequences.

The court’s decision is highly anticipated as the case raises significant questions about labour rights and adherence to due process within the public sector.