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By Lizzy Chirkpi
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has been drawn into a legal battle over alleged contempt of court stemming from the non-release of N220m related to the Paris Club refund.
Melrose General Services initiated the contempt proceedings, also listing the CBN’s Director of Legal Services, Salam-Alada Kofo, the CBN itself, the Economic and Financial Crimes Commission (EFCC), and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as respondents.
At the heart of the matter is Melrose’s claim that the respondents have failed to adhere to a Supreme Court judgment delivered in June 2024. This judgment had overturned the forfeiture of N1.22bn held in Melrose’s account and a separate N220m that had been disbursed to Wasp Networks and Thebe Wellness, all linked to the controversial Paris Club refund involving payments to consultants of the Nigerian Governors’ Forum.
Melrose, through its counsel, Chikaosolu Ojukwu, SAN, argues that while the CBN refunded the N1.22bn, the N220m remains unpaid, constituting a disregard for the Supreme Court’s directive.
In defense, the CBN’s legal team, led by Abdulfatai Oyedele, contends that the Supreme Court’s order was to return the N220m to the accounts of Wasp Network Limited and Thebe Wellness Services, not directly to Melrose. Oyedele further stated that Wasp had requested N200m while Thebe Wellness had yet to claim the remaining N20m.
The EFCC, represented by M.A. Babatunde, has sought to be removed from the suit, filing a motion for misjoinder.
Justice Inyang Ekwo of the Federal High Court, Abuja is set to resume hearing on June 4, 2025, to determine whether the CBN and its officials acted in willful disobedience of the Supreme Court’s judgment or based on their interpretation of it.