The National Industrial Court of Nigeria (NICN) has fined the Central Bank of Nigeria (CBN) for stalling the hearing of lawsuits brought by 62 disengaged staff members.

Justice Osatohanmwen Obaseki-Osaghae issued the order after counsel for the former employees, Ola Olanipekun (SAN), complained that the apex bank’s late filing of a fresh application had forced an unnecessary adjournment in a matter scheduled for hearing.

The 62 former staff, who filed separate suits now pending before the court, are urging the NICN to nullify their termination letters dated May 23, 2024, which were issued under the heading “Re-Organization”.

They contend that the action violated the CBN Act 2007 and the bank’s internal human resource policies, rendering the sack unlawful and void.

They argued the action violated the bank’s human resource policy manual, and was arbitrary, unlawful, null, and void. The claimants also requested a declaration that their contracts of employment with CBN remained valid and fully effective.

Therefore, they asked the court to set aside the termination letters titled ‘REORGANISATION’ dated May 23, 2024, for being arbitrary and unlawful.

Further reliefs sought included a directive for the CBN to reinstate them to their previous or higher positions, as they would have attained or been promoted if their employment had not been unlawfully terminated.

They also sought an order for payment of all salaries, allowances, and other entitlements lost due to the termination, among other reliefs.

The claimants’ counsel additionally filed a motion to consolidate the cases.

At resumed hearing, Olanipekun informed the court that the case was listed for hearing of both the substantive originating summons and the preliminary objection raised by the CBN.
Olanipekun said they were ready to proceed.

CBN’s counsel, Wilson Inam, SAN, responded that he had filed an application dated November 26, asking for the originating summons to be converted to a writ of summons due to factual disputes.

“I apologise for filing it just yesterday and for serving my learner brother this morning in court,” he said.

Olanipekun objected, pointing out that the matter had last been heard on October 2 and there had been enough time to file the motion in advance. “It is important to say that we were served with this application this morning,” he added.

Olanipekun argued that the facts suited hearing through the originating summons and asked the court to disregard the CBN’s application so the case could proceed.

He described the bank’s motion as causing a delay in determining the matter and said the bank had indirectly caused an adjournment.

He requested the court to award costs, stating, “We ask for a conservative cost of N10,000 per person and a total of N620,000. This is because this matter was slated for hearing and the claimants and their counsel are diligently ready to proceed so that we can address the injustice done on the claimants.”

He urged the court to grant a short date next week to hear the application.

CBN’s lawyer, in reply, asked the court to dismiss the request for costs.

In her ruling, Justice Obaseki-Osaghae agreed with Olanipekun’s arguments, holding that the defendant’s motion had delayed the hearing. She said, “cost follows event. Cost is hereby awarded in the sum of N620,000 and this should be paid before the next adjourned date.”

The matter was adjourned until January 12, 2026, for pending motions.

Justice Benedict Kanyip had previously recused himself in 2024 after a CBN legal representative named D.D. Dodo, SAN & Co, as part of the bank’s legal team – with Damian Dodo being his in-law.

Obafemi Agaba of Jackson, Etti, and Edu & Co explained that a consortium of law firms would represent CBN.

Kanyip, who serves as NICN President, said he was uncomfortable continuing.

A number of CBN staff were forcefully exited between February and May 2024. Additional employees retired voluntarily under the Bank’s Early Exit Programme between December 2024 and February 2025.

The majority of the exited staff, mainly former executives, are seeking redress at the NICN for what they call “illegal termination of their employment.”

Among them are former members of the Economic Intelligence Unit (EIU), credited with helping enable the Federal Government to secure a right of appeal against the $11 billion UK judgement in favour of Process & Industrial Developments Limited in 2020, among other achievements.