The National Industrial Court of Nigeria (NICN) has slammed a ₦620,000 fine on the Central Bank of Nigeria (CBN) for stalling the hearing of lawsuits filed by 62 disengaged employees challenging their termination. Justice Osatohanmwen Obaseki-Osaghae ruled after counsel for the ex-staff accused the bank of deliberately delaying proceedings by filing a late motion to convert the case type, forcing adjournment on the scheduled hearing day.
The ex-workers seek nullification of termination letters dated May 23, 2024, citing violations of the CBN Act 2007 and bank HR policies, deeming the dismissals unlawful. They demand reinstatement, back pay, and benefits, pointing to their critical role in the now-defunct Economic Intelligence Unit, credited with major financial investigations, including exposing fraud in the P&ID arbitration and recovering hidden funds.
The case was initially complicated when Justice Benedict Kanyip recused himself over a conflict involving a CBN lawyer related to him.
The judge ordered CBN to pay the fine before the next hearing slated for January 12, 2026.
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