Ex-Bank CEO’s Son Drags NIBSS To Court Over ‘Wrongful Termination’, Demands N1.4bn

Temidayo Adekanye, son of a former CEO of defunct Commerce Bank Ltd, the late Dr Femi Adekanye, has filed a legal action before the National Industrial Court in Lagos against the Nigerian Interbank Settlement System Plc, challenging the alleged wrongful termination of his appointment.

In the suit marked NICN/LA/56/2024 and filed by his lawyer, Wahab Shittu (SAN), Temidayo Adekanye is also demanding N1.41 billion damages for the unlawful termination of his appointment without due process.

The claimant is also asking the court to hold that the termination of his employment on January 15, 2023 is unlawful, wrongful and unjustified and wants the court to reinstate him to his position as though he had never been terminated.

Adekanye is further asking the court to direct the Nigerian Interbank Settlement System to pay all his salaries, allowances and or other perquisites accruable to his office from the date of the purported termination until judgment is delivered.

He is also asking the court to hold that he is entitled to all the promotions which he would have had but for the purported termination.

Adekanye further claimed that he was employed by the Defendant, pursuant to a letter of employment dated the 7th of December 7, 2020 as the Chief Risk and Compliance Officer (Grade: General Manager (GM) Senior Vice President (SVP) with effect from January 15, 2021.

He added that his employment is regulated by the rules and regulations in the Human Capital Policy of the organization and shall be found upon at the trial.

The claimant further stated that despite the accolades and acknowledgement of his versatility and resourcefulness which endeared him to serve either as a member or chairman of various Committees, his appointment was ignobly terminated through a letter dated January 15, 2023.

He further claimed that upon been offered employment, he demonstrated the required experience, expertise and highest professionalism attached to such position that his versatility and resourcefulness endeared him to serve either as a member or chairman of the following Committees:

•Information Technology Steering Committee (IT) SteerCo)- Chairman.

•Disciplinary Committee – Chairman.

•Enterprise Resource Planning Committee (transferred based on workload) – Member.

•Executive Committee (ExCo) – Member

•Management Risk Review Committee (MRRC) – Member f) Service Review Committee – Member

•Monthly Performance Review Committee – Member.

The Claimant avers that throughout the period fo his employment, he served the Defendant diligently and was never involved in any disciplinary misconduct.

No date has been fixed for the hearing of the suit.