News
Fired staff sue CBN, demand N30bn compensation
By Kayode Sanni-Arewa
Fired staff members of the Central Bank of Nigeria who were relieved of their jobs in a mass layoff last year have dragged the bank before the National Industrial Court of Nigeria in Abuja.
In an originating summons, filed on July 4, 2024, under the NICN Civil Procedure Rules 2017, the aggrieved staff members raised several questions for determination.
The Ex-CBN staff members among others, are asking the court to determine whether they were denied their constitutional right to a fair hearing before and after their appointments were terminated while they claimed that the CBN violated internal policies, Nigerian labour laws, and their contractual rights.
The claimants, Stephen Gana, Kabiru Idris, Benedict Agbo, Peter Adeyemi, John Yisa, Eleanor Ihua, Stephen Ambore, Edom Obi, Dabo Chundung, Ekpe-Oko Roupa, Alabi Mubarak, Isa Yusuf, Quadru Ralph, Olasupo Adedokun, Dauda Yusuf, Ogidi Tolu, Levi David, Umar Kurba, Christopher Alfred, Gana Nma, Tanko Joel, Iyare Christian, Paul Iza, Alzebeokhai Esiemokhai, Pius Odunze, Isiuwe Uwadiahu, Vivienne Usoro, Imoh Francis, Ofili Lydia, Onunkwor Christopher, Adeshina Nurudeen, Bukar Ahmed and Ajayi Omosolape.
All 33 of them, represented by Okwudili Abanum, in a class action lawsuit, argued that the termination process, carried out through letters, titled, ‘Reorganizational and Human Capital Restructuring’, dated April 5, 2024, violated both the CBN human resources policies and procedures manual and Section 36 of the Nigerian constitution.
Adding that the process lacked the necessary consultation and fair hearing mandated by law.
They also stated that the termination letters, issued based on restructuring, were arbitrary, illegal, and unconstitutional.
On this note, the claimants sought an order declaring their dismissal null and void.
Additionally, the claimants sought a restraining order to prevent the CBN from firing them without following the proper procedures
They also prayed to the court for a declaration ordering their immediate reinstatement, and payment of salaries and benefits from the date of termination.
The suit referenced Article 16.4.1 of the HRPPM, which mandates consultation with the joint consultative council and adherence to fair procedures before employment actions adversely affect staff.
The claimants noted that the provision was flagrantly disregarded, as they were given just three days to vacate their positions and hand over official property.
They also sought N30 billion in general damages for psychological distress, hardship, and reputational harm caused by the dismissal; and an additional N500 million as the cost of the suit.
In another document dated November 20, 2024, during the first mention of the suit, the court urged the parties in the dispute to seek an amicable resolution of the matter.
The presiding judge, Justice O. A. Osaghae said “This is a new matter, it is mentioned for the 1st time. I have looked at the processes and it is my view that parties should attempt an amicable resolution of this dispute. Consequential, parties are encouraged pursuant to section 20 of the NICA 2006, to attempt amicable settlement”.
Meanwhile, the CBN represented by a team of lawyers led by Inam Wilson informed the court that they had filed a preliminary objection to the claimants’ suit dated November 4, 2024, and he had recently been served with the claimants’ wish to respond to the counter.
Justice Osaghae, following the defendant’s counsel submission, adjourned to January 29, 2025, for a hearing of the preliminary Objection.
Recall that in 2024, the apex bank terminated the appointments of about a thousand staff in four batches between March and May of the aforementioned year.
While some laid-off staff claimed that they received severance payments as low as N5,000, others said their gratuities were absorbed entirely to offset outstanding loans.
Although the layoff was officially attributed to reorganisation and human capital restructuring, the affected staff argued that the process violated the CBN Act, which mandates board approval for significant employment decisions.
On December 4 last year, the Central Bank said its early exit package was entirely voluntary and without any negative repercussions for eligible staff.
News
Speaker Abbas Hails Governor Bago @51
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News
Betara Celebrates Governor Bago @51
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…commend his leadership qualities, contribution to national development
By Gloria Ikibah
The Chairman House of Representatives’ Committee onthe Federal Capital Territory (FCT), Rep. Muktar Betara has congratulated Governor of Niger State, Mohammed Bago on his 51st birthday.
Rep. Betara who represents Biu/Bayo/Shani/Kwaya Kusar Federal Constituency of Borno State, in a congratulatory message admitted Governor Bago’s relentless advocacy for Nigerites as well as the meaningful contributions to legislative processes that shaped national development while serving as Member of the House of Representatives.
Thrilled by the leadership qualities of Governor Bago, he applauded various unprecedented developmental projects initiated since his assumption of office in 2023.
He said: “Your Excellency, on this special occasion of your 51st birthday, I extend my heartfelt congratulations and best wishes to you.
“This milestone is a testament to a life dedicated to public service, leadership, and unwavering commitment to the progress of Niger State and Nigeria at large.
“As the Governor of Niger State, your visionary leadership has continued to inspire hope and transformation across various sectors.
“Your dedication to infrastructural development, education, healthcare, and especially, agriculture, and security has significantly improved the lives of the people, reinforcing your reputation as a leader who prioritises the welfare of his people.
“Your efforts in fostering economic growth and good governance have set a solid foundation for sustainable development in the state.
“Before assuming office as Governor, your impactful tenure as a Member of the House of Representatives was marked by your relentless advocacy for your constituents and meaningful contributions to legislative processes that shaped national development.
“As you celebrate this new chapter of your life, may you continue to be blessed with wisdom, strength, and good health to steer Niger State toward greater heights. Happy birthday !”
News
Nigeria Seeks Stronger Economic Ties with China
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…as currency swap boosting bilateral trade
By Gloria Ikibah
The Nigerian government is deepening economic collaboration with China to drive industrialisation and economic diversification.
Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, made this known when she received the Chinese Ambassador to Nigeria, Yu Dunhai, in Abuja.
The Minister emphasised that Nigeria’s longstanding ties with China, spanning over five decades, align with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises economic expansion and resilience.
Outlining key areas where Nigeria seeks Chinese support, including electric vehicle production, digital technology, renewable energy, and agriculture, Amb. Odumegwu-Ojukwu acknowledged China’s significant role in Nigeria’s road and rail infrastructure development and noted that the country is taking concrete steps to modernize its ports and power sector to attract more investment.
She also highlighted the importance of cultural ties, and noted the growing interest among Nigerian youths in learning the Chinese language.
The minister reaffirmed Nigeria’s commitment to strengthening its economic partnership with China, highlighting that the ongoing currency swap agreement is already enhancing trade relations between both nations.
“It’s quite interesting that a large population of Nigeria youth is inching towards Chinese Language. A lot of Nigerian Universities are desirous to offer Chinese Language. Chinese had become the language of trade in the world.
“Nigeria-China will continue to relate not just bilaterally but multilaterally.
“We expect that we will continue to get the support of China but we will always reciprocate that multilaterally.
“In line with President Tinubu’s plan to industrialise Nigeria, we expect Chinese cooperation in establishing assembly plants of electric vehicles; digital communication, renewable energy, all aspects of digital technology, agriculture because of food insecurity as the government is interested in seeing that food gets to the poorest of the poor. Government is not just talking about food but has established a separate Ministry of Livestock,” the minister stated.
She urged China to extend trade tariff exemptions to its exports, similar to the concessions already granted to 33 other African nations, emphasising that the Renewed Hope Agenda prioritizes stronger ties between citizens and deeper country-to-country partnerships.
In response, Chinese Ambassador Yu Dunhai reaffirmed China’s commitment to strengthening its relationship with Nigeria, describing the country as a key strategic partner. He noted that President Bola Ahmed Tinubu’s visit to China and participation in the Forum on China-Africa Cooperation (FOCAC) had elevated diplomatic and economic engagements between both nations.
Amb. Yu highlighted ongoing collaborations in infrastructure, including roads, railway modernization, power, industrial parks, and the Lekki Deep Sea Port. He disclosed that trade volume between the two nations exceeded $21 billion last year, with Nigeria’s exports to China accounting for over 25% of this figure.
He further underscored the role of manufacturing in industrialization, pointing to the recently renewed $2 billion currency swap agreement as a tool to enhance financial cooperation, boost bilateral trade, and attract more investment.
Expressing optimism about the future, the envoy stated that these efforts would ultimately yield tangible benefits for ordinary citizens in both countries.
He said: “We have a comprehensive strategic partnership with Nigeria. China would want Nigeria to play a big role in the international scene. We want Nigeria to become a member of G-20. These will all provide opportunity for China and Nigeria to further work together closely.
“For China, we have been very consistent. We give grant to any African countries; we don’t give any conditions.”
He further acknowledged that it was important that the two countries met to review how far they have performed in their bilateral cooperation.
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