The travails of the governor of the Central Bank of Nigeria (CBN) Godwin Emefiele appear not to be ending soon, as he has been summoned by a Federal High Court in Abuja for contempt of court.
The summon, which he is expected to honor on Wednesday, stems from a $70 million judgment debt involving the Paris Club refunds.
Lawyers to Joe Agi, a Senior Advocate of Nigeria, had filed an application against Linas International Ltd, the Minister of Finance and the CBN in a suit marked FHC/ABJ/CS/1193/2017. The suit is seeking an order from the court to the Inspector General of Police to arrest the CBN governor and bring him to court.
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The presiding judge, Justice Inyang Ekwo, in an application for garnishee made on October 20, 2022, ordered Emefiele to appear on January 18 as the hearing date for the matter, following confirmation that the CBN governor is yet to comply with the earlier judgment.
The presiding judge had ruled in favor of the applicants, after considering objections by the CBN’s legal counsel, Damien Dodo. Justice Ekwo ruled: “Godwin Emefiele is hereby ordered to appear in court on the next date of hearing. Case adjourned to January 18, 2023 (Wednesday) for hearing.”
The suit alleged that Emefiele paid only $17 million out of the $70 million he was expected to pay to the complainant, in violation of an earlier court order.
The judgment reads as follows: “That on the 16th October, 2018, this Honourable Court made a Garnishee Order Nisi directing the Central Bank of Nigeria to attach the Sum of $70,000,000.00 (Seventy Million US Dollars) in its custody. That on the 16th October, 2018 the Order was Served on the Central Bank of Nigeria under the leadership of Mr. Godwin Emefiele. Annexed hereto as EXHIBIT A is a copy of the Garnishee Order Nisi with the endorsement as to the date of service.
“That on November 21, 2018, Mr. Godwin Emefiele ignored the Garnishee Order Nisi after becoming aware and paid me $17,000,000.00 (Seventeen Million US Dollars) instead of the $70,000,000.00 (Seventy Million US Dollars). Annexed hereto as EXHIBIT B is the Central Bank of Nigeria internal memorandum signed by Mr. Godwin Emefiele.
“That on July 5, 2019, I obtained a Garnishee Order Absolute in this Court against the Central Bank of Nigeria of which Godwin Emefiele is the Governor and alter ego for the sum of $70,000,000.00 (Seventy Million US Dollars) Which sum is due and payable under the said order but remains partially unsatisfied. The order absolute was served on the 29th July, 2019.
“That I aver that till date Godwin Emefiele, being the Governor of the Garnishee, the Central Bank of Nigeria, is liable as the Head of the Central Bank of Nigeria to pay or authorize payment of the sum payable under the said Order Absolute, and I make this averment on the following grounds:
“(a) That the said Godwin Emefiele, under the Central Bank of Nigeria Act is the overall head and alter ego of the Garnishee, the Central Bank of Nigeria.
“(b) That Section 7 of the CBN Act provides that the Governor of the Central Bank of Nigeria shall be in charge of the day-today management of the Bank.
“(c) That Section 10 of the CBN Bye Law entrusts the Governor of the Central Bank of Nigeria with management of the Bank and control over all the accounts and assets of the Bank.
“(d) That in the discharge of his statutory duties as the Governor of Central Bank of Nigeria, Godwin Emefiele has a duty to obey all orders of Court against the Central Bank of Nigeria, including the Garnishee Order Absolute of 5th July, 2019.
“(e) That Godwin Emefiele, Governor of Central Bank of Nigeria, is aware of the said Garnishee Order Absolute of 5th July 2019.
“(f) That Godwin Emefiele though aware of the Court’s Garnishee Order Nisi of 16th October, 2018 proceeded to contemptuously disburse funds meant for payment to me contrary to the Garnishee Order Nisi.”
The judgment comes on the heels of attempt by the Department of State Services to arrest Emefiele on allegations that he’s financing terrorism. The embattled CBN governor may be committed to three months imprisonment if he is found guilty of contempt.