N2.5bn Debt Puts CBN Under Pressure From Court
The Court of Appeal in Abuja has issued a warning to the Central Bank of Nigeria over delays in paying N2.5 billion owed to former staff of Ahmadu Bello University, Zaria, who were dismissed nearly three decades ago.
The court said continued hesitation could attract sanctions against the apex bank.
The case involves 110 university workers whose appointments were terminated in 1996.
After years of legal battles, the courts ruled that the sackings were unlawful and ordered that their salaries and entitlements be paid in full.
Despite the judgement standing for years, the workers are yet to receive the money.
The appeal court expressed concern that the delay has prolonged the suffering of the affected staff, many of whom have waited decades for justice.
The latest warning raises pressure on the CBN to release the funds without further delay, as the judiciary signals it is no longer willing to tolerate actions that stall the enforcement of valid court.
