Former staff of the Central Bank of Nigeria (CBN) have filed a N30 billion lawsuit against the apex bank, alleging unlawful termination of their employment in a mass layoff conducted in 2024. The 33 plaintiffs, representing a larger group of terminated employees, submitted their case to the National Industrial Court of Nigeria, claiming violations of their constitutional rights and the bank’s internal policies.
The claimants argue that the termination letters, issued under the pretext of “reorganisation and human capital restructuring,” were arbitrary and in breach of due process. They contend that the CBN failed to provide the mandatory consultation or fair hearing stipulated under Nigerian labour laws, the 1999 Constitution, and the bank’s own Human Resources Policies and Procedures Manual (HRPPM).
In their summons, the former employees requested the court to declare their dismissal null and void, demand their reinstatement, and order the payment of their outstanding salaries and benefits. They also called for damages amounting to N30 billion for emotional distress and reputational harm, along with an additional N500 million to cover legal costs.
The case, first mentioned in court on November 20, 2024, saw Justice O.A. Osaghae urging both parties to seek an amicable resolution. The CBN, represented by a legal team led by Inam Wilson (SAN), has filed a preliminary objection, and further hearings are scheduled for January 29, 2025.
The plaintiffs allege that severance payments were unreasonably low, with some receiving as little as N5,000 while others had their gratuities absorbed to offset outstanding loans. They claim the layoffs violated the CBN Act, which mandates board approval for significant employment actions, and that the affected staff were given only three days to vacate their positions.
In defense, the CBN stated in December 2024 that the restructuring and early exit packages were entirely voluntary, emphasizing there were no adverse consequences for eligible employees. However, the dismissed staff maintain their stance that the process was unjust and contrary to both internal policies and national labour standards.
