Former Chief Risk and Compliance Officer and Senior Vice President (SVP), Nigeria Inter-Bank Settlement System Plc (NIBSS), Temidayo Adefemi Adekanye, has alleged that he was sacked by his ex-employer for raising the alarm over financial misappropriation in the company.
He made the revelation in the Statement of Material Fact attached with a N1.5 billion damage suit slammed on NIBSS at the National Industrial Court, Lagos.
He is praying the court to declare that termination of his employment by NIBSS on January 15, 2024, was unlawful, wrongful and unjustified. He sought an order of court “reinstating the claimant to his position as though he had never been terminated.”
“An order of court directing the defendant to pay the claimant all his salaries, allowances and or other perquisites accruable to his office from the date of the purported termination until judgment is delivered.
“An order of court that the claimant is entitled to all the promotions which he would have had but for the purported termination.
“An order of the court directing the defendant to pay the clamant N1billion for wrongful termination of employment and for breach of contract of employment.
“An order of the court directing the defendant to pay the clamant N250million as special and general damages.
“An order of the court directing the defendant to pay the clamant N150million as exemplary damages for the infringement of his fundamental rights.
“An order of the court directing the defendant to pay the clamant N10million being the cost of this suit.
Alternatively, the claimant prayed the court for an order directing the defendant to pay to him the full amount of salaries, allowances and other emoluments, which he would have earned of the unexpired remaining years on the attainment of 60 years.
Also an order of the court that the defendant shall pay to him such sum accruable as entitlements inclusive of all emoluments and two per cent of the defendant’s profit before tax declared for the year 2023 and other entitlements applicable to the claimant in the circumstances.
Revealing what led to his sack, the claimant stated that he was employed with effect from January 15, 2021, averring his employment was regulated by the rules and regulations in the organisation.
He said despite the accolades and acknowledgement of his versatility and resourcefulness, which endeared him to serve either as member or chairman of various committees, his appointment was ignobly terminated by a letter dated January 15, 2024.
He averred that the company’s management while appreciating his industry, his yearly appraisals was very strong with minimum of 80 per cent accompanied with kudos and admiration from the management who consistently appreciated his consistency and steadfastness approach to his duties.
The claimant averred that throughout the period of his employment served the defendant diligently and was never involved in any disciplinary misconduct of any kind.
He alleged that the termination of his employment was due to his alertness of informing the management in furtherance to his contractual engagement when he raised concerns about serious financial misappropriation including but not limited to fundamental governance, transparency and fraud related issues in the organisation so as to save the organisation from collapse and economy catastrophe which will invariably have negative effect on the integrity of the financial system of the country.
The claimant averred that being the Chief Risk Officer (CRO), his responsibility was to “ensure that managing risk related to Human Capital Management is consistent across NIBSS, reflects the risk tolerance of NIBSS, and is considered along with other organisational risks affecting the mission and business success of NIBSS,” prompted him to lodge complaints that bothered on fundamental governance, transparency and fraud related issues to the Managing Director and in the absence of feasible action subsequently escalated his complaints to the Board Audit and Risk Committee on November 13, 2023, but the complaint was never investigated and led to the unjustly termination of his employment.
The claimant stated that prior to the letter of November 13, 2023, he had initially by email request of the 24th October 2023 to the Chief Financial Officer (CFO) and Company Secretary/Head of Legal for access to data and information on financial records of Nigerian Interbank Settlement System (NIBSS) and third-party contracts to no avail and thereafter to the Managing Director on the 31 October 2023 who set up a Committee headed by Executive Director (ED) Business Development to undermine his position which entitled him to unfettered access to all critical information and records.
The claimant further averred that on the 15th January 2024, he was invited for a meeting at 10 am at the Conference room with Head HR, HOD Legal/Company Secretary of the Defendant, CFO and while the meeting commenced three armed men in Military attire claiming to be officers of the Department of State Service (DSS) busted into the conference room, showed their ID cards, and proceed to bark orders that all his mobile devices and laptops should be immediately handed over to them and was forced at gun point to comply and they took position outside the conference room.
The claimant also stated that the meeting in the conference room resumed, chaired by the Head HR wherein he was offered to resign with payment of the sum of N160 million as pay-off package or risk the immediate termination of his employment.
He added that his request to enable him time to weigh and consider the offer was refused and on the spot he was given the letter dated January 15, 2024, terminating his employment ignobly.
The claimant averred that the invitation of armed military officers of the Department of State Service (DSS) to harass, embarrass and intimidate him amounted to unlawful curtailment of his freedom of movement, dignity of his person, personal liberty, fair hearing and constituted an affront on his fundamental rights under the 1999 Constitution and African Charter on Human and Peoples Rights.
