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By Lukman Olabiyi
The National Industrial Court (NIC), Lagos, has fixed November 25, 2024, for definite hearing in the suit filed by former Chief Risk and Compliance Officer, Nigeria Inter-Bank Settlement System (NIBSS), Temidayo Adekanye, against the alleged wrongful termination of his appointment by the NIBSS.
Justice A. N. Ubaka fixed the date after their counsel, Wahab Shittu (SAN), representing Adekanye and Dr. Kemi Pinheiro (SAN), for NIBSS, appeared before her in the suit, which was slated for mention. She also ordered the parties to maintain status quo, pending the final determination of the suit.
Adekanye had alleged that his sack by NIBSS was unlawful and due to the fact that he had uncovered some fraudulent activities in the organisation. He pointed out that his action as Chief Risk Officer of the organisation was to save the organisation from collapse and the ensuing economic catastrophe, which would invariably have a negative effect on the integrity of the financial system of the country.
Adekanye further claimed that his appointment was unlawfully terminated in February, this year, following his discovery of some fraudulent activities in the organisation, which, according to him, was capable of affecting the banking system in the country.
He stated that in the absence of feasible action after he reported the matter to the Managing Director of NIBSS, he subsequently escalated his complaints to the Board Audit and Risk Committee on November 13, 2023, but that the complaints were never investigated.
The claimant also averred that other concerns he raised include Afrigo and NQR fraud, Hyper Converged Infrastructure (HCI) implementation, purchase of land at Eko Atlantic in 2023, lack of due care in critical operational process with severe industry impact, which included a deliberate denial and lack of access to data, first line control failures, inadequate processes and system documentation to carry out further reviews of operational losses, among many others.
Rather than act swiftly on the concerns raised by him, Adekanye alleged that NIBSS management changed its corporate structure and organigramme to eliminate his office, in a calculated attempt to oust his jurisdiction and stultify his duties as the Chief Risk and Compliance Officer.
He wants the court to, among other things, declare his sack unlawful and to order the defendant to pay him N250 million as special and general damages as well as another N150 million as exemplary damages for the infringement of his fundamental rights. However, the NIBSS refuted the allegations. It insisted that Adekanye was relieved of his duties for suppressing an audit report that indicted him.
