• Thirty-three former employees of the Central Bank of Nigeria (CBN) have sued the apex bank over their mass termination last year.

  • The ex-staff members, who were laid off in April 2024, alleged that the CBN breached internal policies, Nigerian labour laws, and their contractual rights.

  • They are seeking N30bn in general damages for psychological distress, hardship, and reputational harm caused by the dismissal, as well as an additional N500m to cover the cost of the suit.

Thirty-three former employees of the Central Bank of Nigeria (CBN) have taken the apex bank to court over their mass termination last year.

The ex-staff members, who were laid off in April 2024, alleged that the CBN breached internal policies, Nigerian labour laws, and their contractual rights.

In an originating summons filed on July 4, 2024, the claimants raised several issues for the court to address, including whether their constitutional right to a fair hearing was violated before and after their appointments were terminated.

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They also alleged that the termination process lacked the mandatory consultation and fair hearing required by law.

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According to the claimants, the CBN flagrantly disregarded its human resources policies and procedures manual, which mandates consultation with the Joint Consultative Council and adherence to fair procedures before taking employment actions that adversely affect staff.

The group sought N30bn in general damages for psychological distress, hardship, and reputational harm caused by the dismissal, as well as an additional N500m to cover the cost of the suit.

CBN Confirms Exit Of 1000 Staff Voluntarily In December 2024

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that the 1000 staff members who left the institution in December 2024 did so voluntarily and were not forced to resign.

Cardoso made the clarification on Friday during an investigative hearing by the House of Representatives ad-hoc committee, which is probing the reasons behind the staff exits and the N50 billion severance package offered to those affected.

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