National Industrial Court orders Central Bank of Nigeria, Nigeria Deposit Insurance Corporation (NDIC) to pay over 5.7 billion terminal benefits to over 1,000 bank workers affected by re-capitalisation exercise of 2006.

Written by on May 25, 2022

The National Industrial Court sitting in Lagos has ordered the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to pay over 5.7 billion terminal benefits to over 1,000 bank workers affected by the re-capitalisation exercise of 2006.

The money is to be paid within three months from the date of judgment failing which it will attract 10 percent interest until liquidated.

Justice Paul Bassi made the order while delivering judgment on Monday in the case filed by 1,116 claimants who had approached the court since 2018.

The court also ordered the CBN and the NDIC to pay another 10 million naira as general damages to the claimants.

Amen Kantiyok       


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