The National Industrial Court in Abuja has ordered the Central Bank of Nigeria (CBN) to pay a ₦620,000 fine for delaying proceedings in multiple suits filed by 62 former staff members challenging their dismissal.
Justice Osatohanmwen Obaseki-Osaghae issued the order after the claimants’ counsel, Ola Olanipekun (SAN), complained that the CBN’s last-minute filing of a fresh application stalled a hearing scheduled to proceed on Thursday.
The former employees are asking the court to void their May 23, 2024 termination letters—issued under “Re-Organisation”—arguing that the action breached the CBN Act 2007 and the bank’s HR policies.
They seek reinstatement, payment of outstanding entitlements, and a complete reversal of their disengagement.
Their counsel has also sought the consolidation of the 62 separate suits.
The case has already faced procedural hurdles: in 2024, NICN President, Justice Benedict Kanyip, recused himself after discovering that a lawyer representing the CBN is his in-law.
Many of the disengaged staff previously worked in the now-defunct Economic Intelligence Unit, credited with major financial investigations, including probes into the P&ID $11 billion arbitration, recovery of ₦3.18 billion hidden by a bank agent, and investigations into illicit forex repatriation by gaming companies.
They insist their sack was arbitrary and targeted.
At Thursday’s sitting, Olanipekun said both sides were set to argue the originating summons and a pending preliminary objection when the CBN introduced a new motion—filed on November 26 and served that morning—seeking to convert the matter from an originating summons to a writ of summons on the grounds that facts were in dispute.
He accused the bank of deliberately attempting to delay the suit and requested a cost of ₦10,000 per claimant, totalling ₦620,000.
CBN counsel Wilson Inam (SAN) apologised for the late filing but maintained that the mode of commencement should be changed.
Justice Obaseki-Osaghae upheld the ex-staff’s complaint, ruling that the bank’s action disrupted the hearing. She awarded ₦620,000 in costs against the CBN, to be paid before the next sitting.
The cases were adjourned to January 12, 2026, for hearing of pending applications.
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