The wrongful termination lawsuit filed by Temidayo Adekanye, former Chief Risk Officer of the Nigeria Inter-Bank Settlement System (NIBSS), will be heard on November 25 at the National Industrial Court in Lagos.
In March 2024, Adekanye sued NIBSS after being fired for raising internal concerns about serious issues, including financial misappropriation, corporate governance problems, and fraud. He specifically pointed to suspicious activities related to Afrigo, a domestic card scheme launched in 2023, and NQR, a QR-code payment platform. He also highlighted issues with a cloud migration project.
On Monday, the presiding judge, Hon. Justice Ubaka, announced, “This matter is pre-listed before me today and adjourned to November 25, 2024, for a definite hearing. The defendant is at liberty to file his reply to the claimant’s statement of claim.”
The court will examine Adekanye’s claims, which have cast doubt on the integrity of Nigeria’s financial system.
Adekanye is seeking one billion naira in damages for wrongful termination and breach of contract. He also wants ₦250 million for special and general damages, ₦150 million for violation of his fundamental rights, and ₦10 million to cover legal costs.
Alternatively, he asked the court to order NIBSS to pay him the full amount of salaries, allowances, and other benefits he would have earned until he turned 60. He also requested 2% of NIBSS’s profit before tax declared for 2023 and any other entitlements due to him.
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