April 20, 2026 | SUNTV Global Channel
Fresh controversy has trailed the Central Bank of Nigeria (CBN) following allegations by former employees that the apex bank offered as little as ₦200,000 to ₦300,000 as compensation after abruptly terminating their appointments.
The affected workers claimed they were disengaged after serving between five and 14 years under what the bank described as “organizational restructuring.”
According to the former staff, the exercise was sudden and lacked transparency, with no prior warning, query, or opportunity to defend themselves. Many say they were informed of their dismissal without due process, sparking anger and legal threats.
One of the affected employees described the situation as devastating, alleging that their livelihoods were destroyed overnight. Some workers further claimed that the decision affected about 15 staff members, including individuals who had served the institution for over a decade.
They also alleged inconsistencies in the treatment of staff, including cases where some disengagements were later converted to retirement, allowing certain individuals to access full benefits while others were left with minimal payouts.
The former employees further accused management of pressuring them to accept one-month salary settlements and sign agreements waiving their right to pursue legal action—an offer they rejected.
Many of the affected workers say they are still battling financial hardship nearly two years after their dismissal, with outstanding loans and family responsibilities worsening their situation.
The group is now demanding either reinstatement or full compensation reflecting their years of service, insisting that due process and fair hearing were not observed.
They are also calling on labour authorities and the public to intervene, describing the treatment as unfair and a violation of workers’ rights.
As of press time, the CBN has not issued an official response to the allegations.
