Explain $53 million debt before Jan 25 or face arrest, Court warns Emefiele

The Federal High Court in Abuja has warned Godwin Emefiele, former Governor of the Central Bank of Nigeria, to appear in court and clarify the circumstances surrounding a $53 million judgment debt related to the Paris Club refund. Justice Inyang Ekwo issued this ultimatum, and Emefiele has until January 25, 2024 to comply with the court’s directive, adding that failure to do so could result in an arrest warrant.

In the course of the proceedings, Emefiele’s counsel, Audu Anuga (SAN), made a plea on behalf of his client, explaining the challenges in securing Emefiele’s appearance in court. He said that Emefiele was currently in custody, which had hindered his ability to comply with previous court orders.

The case arose from a garnishee proceeding initiated by Joe Agi, a Senior Advocate of Nigeria, against CBN to recover a judgment debt of $70 million from Linas International Limited and the Minister of Finance. According to court documents, the CBN had paid part of the debt, leaving a balance of $53 million after a garnishee order absolute; a garnishee is a third party legally obligated to withhold and redirect funds from the debtor to the creditor in accordance with the court order.

Justice Ekwo had previously insisted that Emefiele must appear before the court to address the matter. In response to the situation, Emefiele’s lawyer, Anuga, informed the judge that he had filed an affidavit to show cause, explaining why an arrest warrant should not be issued against his client.

Jeremiah Utaan, a legal officer from the CBN’s Legal Department, also submitted an affidavit stating that Emefiele had been in the custody of the Department of State Services since June 10. Utaan argued that the cause of justice would not be served if the court proceeded to issue an arrest warrant against Emefiele.

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The judgment creditor’s counsel, I.A. Nnana, confirmed that he had been served on Monday but requested time to respond. In response, Justice Ekwo noted that flouting court orders would not be tolerated and reiterated that Emefiele must comply with the court’s directives.

The judge adjourned the matter until January 25, allowing Emefiele ample time to explain his circumstances and prevent the issuance of an arrest warrant. He said, “Orders of court must be complied with, and even if no one complies with the order of the court, the court must comply with its order. I will give you sufficient time.”