x

CBN Faces Legal Challenges Over Recent Staff Layoffs

The Central Bank of Nigeria (CBN) is currently embroiled in numerous court cases initiated by former employees who were dismissed as part of the bank’s recent reorganization efforts under President Bola Tinubu’s administration.

To date, over 100 lawsuits have been filed by the affected personnel, contesting their terminations and seeking compensation for their entitlements. The CBN had announced the layoff of more than 200 staff on May 24, 2024, in a letter titled “Re-Organisation.”

Mr. Ola Olanipekun, SAN, who represents some of the dismissed employees, filed these cases with the National Industrial Court in Abuja. He argued that the terminations were unjust and that his clients’ rights to a fair hearing were violated.

Olanipekun highlighted that the CBN’s actions have resulted in significant financial damages, amounting to hundreds of millions of naira. He is seeking a court order for the bank to pay all outstanding salaries, allowances, and other entitlements to the affected staff.

Additionally, the claimants are demanding N30 million for litigation costs and prosecution, along with a 21% post-judgment interest per annum on any awarded sums until fully paid.

The legal documents, filed on August 22, 2024, include a 27-paragraph affidavit affirming the claims of the affected staff.

Hot this week

Minister’s Aide Empowers 300 Pupils in Lagos Through School Support Initiative

By Israel Adamu, JosThe Abosede Tomori Foundation (ATF)...

FG, Senate Leaders Head to Washington to Avert U.S. Sanctions Over Alleged Christian Genocide

 Top officials from the Federal Government and the National...

Kogi State Polytechnic Urges Prosecution of Staff Over Alleged Salary Fraud

By Noah Ocheni, LokojaThe Management of Kogi State Polytechnic,...

Over 50 terrorists neutralize, 70 wounded in severe battle with troops

By Achadu Gabriel, KadunaWith renewed vigour and triumph,...

Awful and Outplayed – Why Arne Slot Must Look Inward to End Liverpool’s Slump

Liverpool manager Arne Slot blamed tactical adjustments from opponents...

Gov. Ododo Pledges Road Rehabilitation and More Development Projects in Kogi Community

By Noah Ocheni, LokojaGovernor Ahmed Usman Ododo of Kogi...

Awful and Outplayed – Why Arne Slot Must Look Inward to End Liverpool’s Slump

Liverpool manager Arne Slot blamed tactical adjustments from opponents...

Ruben Amorim Lists Four Reasons Casemiro Is ‘So Important’ to Manchester United

Manchester United’s resurgence under manager Ruben Amorim continued on...

Today’s Headlines: Galatasaray Recoup €31m From Osimhen Deal; ‘Nigeria...

Sunday, 26 October 2025 Premier League15:00 CET AFC BournemouthvNottm Forest ...

TCN Tower Vandalized on Gombe–Damaturu 330kV Line, Disrupting Power Supply to Northeast

By Jabiru HassanThe Transmission Company of Nigeria (TCN) has...

Related Articles

Popular Categories

spot_imgspot_img