The affected staff are seeking compensation for damages, unpaid entitlements, and other claims related to their abrupt termination.
The dismissed employees, who are represented by Lead Counsel Mr. Ola Olanipekun (SAN), have filed over 100 suits challenging what they describe as the unjust and unlawful termination of their services.
Olanipekun stated that his clients are seeking to enforce their right to a fair hearing, arguing that the sudden dismissal has caused them significant financial and emotional harm, with damages running into hundreds of millions of Naira.
One of the claimants, who had nine years of service remaining before retirement, is demanding that the CBN pay his full monthly salary and allowances until his rightful retirement date, totaling approximately N178,360,127.00.
In addition, he is seeking N100 million in general damages for the wrongful termination of his employment contract, along with N30 million to cover litigation costs.
The claim also includes a demand for 21% post-judgment interest on all awarded sums until full payment is made.
The legal actions stem from the CBN’s decision in May 2024 to terminate the employment of approximately 200 staff members under a restructuring program.
The dismissed employees, many of whom still had years of service remaining, are now challenging the legality of their termination and demanding that the CBN fulfill all obligations related to their contracts.
Tribune
