CBN: Emefiele Arraigned Over $53 Million Judgement Debt

• Emefiele will appear in Federal High Court on Wednesday, 18 January.

• The CBN governor was summoned over the suit seeking his arrest.

• The suit arose over an alleged $70 million judgment against Linas over the lawyer’s services in the Paris Club refund.

EKO HOT BLOG reports that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been asked to present himself before a Federal High Court in Abuja on Wednesday, January 18, 2023.

The embattled economist was summoned to appear for a hearing over a suit seeking his arrest for alleged $53 million judgement debt arising from the Pars Club refunds.

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The court judge, Justice Inyang Ekwo, in an application dated October 20, 2022, ordered Emefiele to appear on January 18 as the hearing date for the matter.

The order followed the application by a Senior Advocate of Nigeria, Joe Agi, against Linas International Ltd, the Minister of Finance and the CBN through his lawyers, Isaac Ekpa and Chinonso Obasi, seeking an order directing the Inspector General of Police, Usman Alkali Baba, to arrest Emefiele and bring him to court alongside his lawyers: Damian Dodo, Audu Anuga, all Senior Advocates of Nigeria, and Ginika Ezeoke, Jessica Iyoke, Abdullahi Afolayan and Olayemi Afolayan.

The suit arose over an alleged $70 million judgment against Linas over the lawyer’s services in the Paris Club refund, which Emefiele was said to have released only $17 million, leaving an outstanding $53 million.

Far back on 23rd of January 2020, the court ruled that Emefiele must appear “to be examined on oath touching the means you have or have had, since the date of the said garnishee order absolute, to pay the balance of $53 million now due and payable under the said garnishee order absolute and also show cause why you should not be committed to prison for default in payment of the said sum.”

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Subsequently, Emefiele faced a series of allegations, all seeking his removal as CBN governor. However, the apex bank governor is expected to appear before the federal high court in Abuja tomorrow to defend the initial suit.

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