The Central Bank of Nigeria (CBN) has been sent to the National Industrial Court (NIC) by more than 100 of its staff.

The staff were recently sacked after the bank's re-organisation strategy by President Bola Tinubu's administration. They are demanding payment for damages and entitlements, and more.

Recall that president Tinubu stated that there would be a thorough house cleaning at the CBN in his inauguration speech.

"Thorough house cleaning is necessary, the Central Bank of Nigeria (CBN) must work towards a single exchange rate," the president said in his speech.

Staff who were affected by the re-organisation said they were wrongfully dismissed and are seeking compensation.

According to reports, over 100 suits have been filed, and the lead counsel to some of the affected staff, Ola Olanipekun (SAN), said his clients approached the court to enforce their right to a fair hearing.

Ola Olanipekun (SAN) stated that the wrongful actions of the Central Bank of Nigeria have caused significant damages to his clients, amounting to hundreds of millions of naira.

He requests the court to order the bank to pay the claimants their monthly salaries, allowances, and other entitlements.

For one client who earns N1,621,455.70 monthly and was unlawfully terminated with nine years of service remaining, Olanipekun is seeking an order to pay N178,360,127.00 for the remaining service.

He is also demanding N100,000,000.00 in general damages for wrongful termination. He also demands N30,000,000.00 for litigation costs and 21% post-judgment interest on all awarded sums until fully paid.