Abuja: The National Industrial Court of Nigeria (NICN) has sanctioned the Central Bank of Nigeria (CBN) for stalling hearings in suits filed by 62 disengaged staff.
Justice Osatohanmwen Obaseki‑Osaghae ordered the apex bank to pay ₦620,000 in costs, ruling that its late filing obstructed proceedings.
The claimants, who allege their termination was unlawful, are seeking reinstatement and payment of entitlements, while the CBN has filed preliminary objections. The matter continues January 12, 2026.
The ex-workers, many of whom were instrumental in establishing the CBN’s now-defunct Economic Intelligence Unit (EIU), allege they were unlawfully terminated under the guise of “Reorganisation” in May 2024.
They argue the dismissals violated the CBN Act 2007 and the bank’s own HR policies, rendering the letters “arbitrary, unlawful, null and void.”
At stake is not only the reinstatement of dozens of careers but also the credibility of the apex bank’s governance.
The claimants are demanding reinstatement, payment of withheld salaries and entitlements, and recognition of their contracts as subsisting.
Their counsel, Ola Olanipekun, SAN, accused the CBN of deploying procedural maneuvers to frustrate the case, forcing adjournments and prolonging hardship for the workers.
The controversy is further complicated by the history of the EIU, which played a pivotal role in high-profile investigations, including exposing fraud in the $11 billion Process and Industrial Development (P&ID) arbitration case.
Despite these achievements, the unit’s staff were allegedly “maliciously targeted” in the purge, raising suspicions of internal politics and retaliation.
Legal analysts note that the NICN’s sanction is more than a procedural reprimand — it serves as a symbolic warning to institutions that delay tactics undermine the rule of law.
With the next hearing slated for January 12, 2026, the case is shaping up as a litmus test for judicial resolve against powerful state actors and a rallying point for labour rights in Nigeria.