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Employment Termination: Ex-NIBSS Risk Officer Demands N1bn

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temidayo adekanye ex-NIBSS Risk officer

By Adedapo Adesanya

A former chief risk officer of the Nigeria Inter-Bank Settlement System (NIBSS), Mr Temidayo Adekanye, has sued the agency for unlawfully terminating his appointment months after he raised concerns about fraud within the organisation.

According to TechCabal, the ex-NIBSS Risk officer is asking the National Industrial Court to award damages of N1 billion for wrongful termination and breach of contract.

He claimed that his appointment was terminated after sharing concerns internally about “serious financial misappropriation, corporate governance, and fraud” at NIBSS.

NIBSS develops and handles the infrastructure for payments between different banks in Nigeria. It is owned by all licensed banks in the country, including the Central Bank of Nigeria (CBN).

Mr Adekanye alleged fraudulent activity connected to Afrigo, a domestic card scheme launched in 2023, and NQR, a platform for QR-code payments. He also raised similar concerns about a cloud migration project.

The National Industrial Court has fixed May 20 for the first hearing.

According to court filings, in addition to the N1 billion settlement, the ex-risk officer also wants other payments totalling N410 million ranging from N250 million in special and general damages, N150 million in compensation for infringement of his fundamental rights, and N10 million as the cost of legal proceedings.

The aggrieved also sought NIBSS to pay him “the full amount of salaries, allowances, and other emoluments that he would have earned on the unexpired remaining years upon attainment of 60 years.”

He also pled with the court to mandate NIBSS to pay him 2 per cent of its profit before tax declared for 2023 and other entitlements applicable to the claimant in the circumstances.

In a response to the publication, the NIBSS said it was allowing the judicial process to play out.

“We respect the judicial process and believe it is essential to allow the legal process to take its course without interference or speculation.

“The referenced case in the National Industrial Court is not founded on any crime but what the Claimant perceives as an unlawful termination.”

The former chief risk officer told the court that he requested information on the company’s financial records and third-party contracts from the Chief Financial Officer (CFO), Company Secretary/Head of Legal, and Managing Director, but was denied access. He took his complaints to the board audit and risk committee on November 13, 2023.

Mr Adekanye also alleged that he was asked to resign and was offered N160 million in severance or risk immediate termination of his employment in a meeting with the company’s Head HR, HOD Legal/Company Secretary, Executive Director, Business Development, and CFO on January 15, 2024.

“Rather than act swiftly on the concerns raised by him, the defendant [NIBSS] changed its corporate structure and organogram to eliminate the claimant’s [Adekanye] office in a calculated attempt to oust his jurisdiction and stultify his duties as the Chief Risk and Compliance Officer,” he filed.

It was also reported that the position of CRO has been removed from the NIBSS organisational structure.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Sanwo-Olu Not Ordered to Resign on Health Grounds—Aide

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Sanwo-Olu economic necessity

By Modupe Gbadeyanka

Reports that Governor Babajide Sanwo-Olu of Lagos State has been “ordered to resign on health grounds” have been debunked.

The Special Adviser to the Governor on Media and Publicity, Mr Gboyega Akosile, in a statement on Monday night, described the reports, which first emanated from Sahara Reporters, as false.

It was alleged that Mr Sanwo-Olu was asked to leave his position to allow his deputy, Mr Obafemi Hamzat, to take over.

This came shortly after the Governor endorsed Mr Hamzat as his successor after consultations with stakeholders in the state.

The political calculation is that if the deputy governor is allowed to finish his boss’ term, he will most likely be eligible to run only for a single term from 2027 to 2031.

In the statement yesterday, Mr Akosile said nobody has asked the Lagos Governor to resign, describing it as “another fake news, which has become a pattern of Sahara Reporters.”

According to him, Governor Sanwo-Olu remains in good health, of sound mind, and is actively discharging his duties as Governor of Lagos State.

He explained that the clarification was issued “to prevent the public from being misled by deliberate falsehoods. We would ordinarily ignore such baseless reports, but the need to reassure Lagosians makes this response necessary.”

The governor’s aide advised the public to disregard the story and treat it as fake news because the platform “has a track record of publishing disinformation.”

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2027 Lagos Guber: Sanwo-Olu Endorses Deputy Obafemi Hamzat

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sanwo olu hamzat

By Adedapo Adesanya

The Governor of Lagos State, Mr Babajide Sanwo-Olu, has endorsed his deputy, Mr Obafemi Hamzat, as his preferred candidate for the 2027 governorship election, under the banner of the All Progressives Congress (APC).

Mr Hamzat on Monday declared his intention to run for governor during a closed-door meeting at Lagos House, Marina, attended by members of the State Executive Council, party leaders and members of the Governor’s Advisory Council.

Among those present were former Minister of State for Defence, Mr Musiliu Obanikoro, and former senator, Mr Ganiyu Solomon.

Mr Sanwo-Olu described the endorsement as a consensus decision reached by stakeholders, saying his deputy possesses the experience and competence to lead the state.

“We just received Mr Deputy, who had come with a very powerful delegation of our leaders in the state to inform us of his intention to contest for the seat of the governorship position of the state,” the governor said.

“It was unanimous with all of us to say that Mr Deputy Governor is a man who is fit and well-prepared for this job. He is a man who knows where all the rooms in the house are,” he added.

The governor cited Mr Hamzat’s record in office and their working relationship over the past seven years as reasons for his support, describing him as loyal, committed and prepared for leadership.

“This is a deputy governor that is worth a governor from day one; this is a man that has been built for this job, and we believe that he deserves to be given a chance to go and run this state,” he emphasised.

Mr Sanwo-Olu also linked the political development to President Bola Tinubu’s longstanding influence in Lagos politics.

“We thank our father, our leader, Mr President, who saw the vision… that long run is what is already being manifested here today,” he noted.

He characterised the meeting as a family-style consultation involving party stakeholders and government officials, saying there was broad agreement in support of Mr Hamzat’s aspiration.

“It’s been a very warm family meeting, and at the end of the day, it was unanimous that Mr Deputy Governor is fit, ready, well baked… for this job,” he added.

The endorsement comes more than a year before party primaries are expected. However, political analysts say it suggests early alignment for the ruling party in the commercial capital.

Mr Hamzat is a former Commissioner for Works and Infrastructure in the state and a two-term deputy governor.

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NECA Urges Stakeholders to Strengthen Psychosocial Work Environments for Sustainable Growth

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Adewale Oyerinde

By Modupe Gbadeyanka

Employers, policymakers, and other key stakeholders have been urged to intensify efforts toward developing and sustaining healthy psychosocial work environments as a critical pathway to improved productivity, employee well-being, and organisational resilience.

This call was made by the Nigeria Employers’ Consultative Association (NECA) in commemoration of the 2026 World Day for Safety and Health at Work, themed Good Psychosocial Working Environments: A Pathway to Thriving Workers and Strong Organisations.

The Director General of NECA, Mr Adewale-Smatt Oyerinde, noted that this year’s theme highlights the growing importance of mental and emotional well-being in the workplace and reinforces the need for a more holistic approach to occupational safety and health.

He further stated that while progress has been made in improving workplace practices, there is a need for sustained and collective action to further strengthen psychosocial conditions in line with evolving global standards, including guidance from the International Labour Organisation (ILO).

“Across sectors, there is increasing recognition that workplace wellbeing extends beyond physical safety. A healthy psychosocial work environment where employees feel valued, supported, and able to perform optimally is essential for organisational effectiveness and long-term sustainability,” the DG said.

He emphasised that psychosocial wellbeing is influenced by how work is structured, managed, and experienced, and encouraged stakeholders to adopt intentional strategies that promote positive work environments. These include clear job roles, manageable workloads, supportive leadership, open communication, and policies that promote work-life balance and inclusion.

“Creating healthy psychosocial work environments requires deliberate and continuous effort. Employers, in particular, play a pivotal role by embedding supportive systems and fostering workplace cultures rooted in trust, respect, and fairness,” he added.

Mr Oyerinde also underscored the importance of strengthening institutional frameworks and workplace practices that support employee well-being, including access to counselling services, employee engagement mechanisms, and transparent organisational policies.

He further referenced the NSITF–NECA Safe Workplace Intervention Project (SWIP) as a practical demonstration of NECA’s commitment to advancing workplace safety through proactive and preventive approaches. The initiative, implemented in collaboration with the Nigeria Social Insurance Trust Fund (NSITF), evolved from the Employees’ Compensation Scheme.

“While the Employees’ Compensation Scheme provides support in cases of workplace incidents, NECA continues to emphasise prevention as the most effective approach to workplace safety. This includes expanding the scope of safety initiatives to address psychosocial risks alongside physical hazards,” he stated.

Through SWIP, NECA, and NSITF, the organisations have supported organisations in strengthening occupational safety and health systems, conducted risk assessments, facilitated stakeholder engagement, and recognised organisations demonstrating strong commitment to safety standards.

Looking ahead, NECA urged all stakeholders to integrate psychosocial risk management into existing workplace safety frameworks, ensuring a more comprehensive and sustainable approach to employee well-being.

As part of activities marking this year’s commemoration, NECA will host a Knowledge Sharing Session on April 30, 2026, themed: “From Compliance to Commitment: Building Sustainable Safety Cultures at Work.” The session will provide a platform for stakeholders to share insights, exchange best practices, and reinforce collective commitment to safer and healthier workplaces.

NECA therefore calls on Employers, Government Institutions, and Social Partners to continue working collaboratively to build work environments that not only drive productivity but also support the dignity, well-being, and full potential of every worker.

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