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HomeLatest NewsCourt Threatens Emefiele With Arrest Warrant Over $53m Unpaid Judgement Debt

Court Threatens Emefiele With Arrest Warrant Over $53m Unpaid Judgement Debt


A Federal High Court, Abuja has threatened to issue a warrant of arrest against suspended Governor of Central Bank of Nigeria (CBN), Godwin Emefiele.


The court issued the threat on Wednesday over his failure to appear in court to explain circumstances surrounding the 53 million dollar-judgment debt arising from the Pars Club refund.


Justice Inyang Ekwo, who ordered Emefiele to appear on the next adjourned date, said he was minded to exercise restraint in the proceeding to give the ex-CBN boss an opportunity to explain himself.


The development followed an intervention by Emefiele’s Counsel, Audu Anuga, SAN, praying the court to give his client another opportunity as they had been unable to reach him since the last order, directing him to appear in court.


Anuga told the court that Emefiele, who was suspended as CBN governor, had been in detention.


He said all efforts to reach him to communicate the directive of the court were unsuccessful.


The News Agency of Nigeria (NAN) reports that Justice Ekwo had, on Oct. 20, 2022, ordered the CBN governor to appear in court on Jan. 18 over his alleged refusal to obey the order of the court for the payment of the judgment debt in favour of a legal practitioner, Joe Agi, SAN.


Agi had dragged Linas International Ltd, Minister of Finance, CBN and Emefiele to court as 1st to 4th judgment debtors respectively, following an application for garnishee made by him as judgment creditor in the case.


However, on Jan. 18, proceedings could not go on as scheduled when the matter was called, prompting the court to subsequently adjourn the case till March 20, before it was fixed for June 6 again.


NAN reports that the judge, on June 6, ordered Emefiele to appear before it on July 19 (today).


But the CBN Governor was on June 9, suspended by President Bola Tinubu and directed to transfer his responsibilities to the Deputy Governor, operations directorate.


No sooner had Emefiele been suspended than the Department of State Services (DSS), on June 10, announced his arrest and detention.


Upon resumed hearing on Wednesday, Ayodele Arotiowa, who appeared for Agi, was about to make a submission when Justice Ekwo asked Emefiele’s lawyer if he had complied with the order.


“We made an effort to see how we can communicate with the 4th respondent (Emefiele) but the 3rd respondent (CBN) was unable to communicate with the 4th respondent.


“We rely only on public communication that the 4th respondent is incarcerated and have been unable to communicate with him,” Anuga responded.


He said there was another development now as to whether Emefiele could act on behalf of the CBN.


The judge, who said the CBN had no case to answer, said Emefiele was sued in his personal capacity.


Anuga said: “But the public information now is that he has been suspended. An opportunity has to be given to him to comply.”


“I have given you enough opportunity but you are taking it for granted,” the judge said while directing Anuga to give a good reason why the court should not issue a warrant of arrest against Emefiele.


The senior lawyer said since his client was still in detention after his suspension despite an order mandating his release, there was nothing they could do.


“My lord, we are at the mercy of the court, he said.”


“But there is an intervening event, as we have not had the privilege to see him.


“The last opportunity my lord gave to the 4th respondent has not been communicated to him.


“I feel opportunity should be given so that this can be communicated,” he pleaded.


But Anuga maintained that after this opportunity if Emefiele failed to comply, the court will take its action.


The judge, consequently, adjourned the matter until Oct. 31 for the CBN and Emefiele to show cause why an arrest warrant should not be issued against the former CBN governor.


“Upon listening to counsel, I am minded to exercise restraint in this proceeding to give the 4th respondent an opportunity to explain himself to me on the next adjourned date,” he said.


NAN reports that the dispute stemmed from an alleged $70 million judgment against Linas International Ltd for the lawyer’s (Joe Agi) assistance with the Paris Club refund.


Emefiele was said to have only released $17 million, leaving an unpaid balance of $53 million.


The court had on Jan. 23, 2020, ruled that Emefiele must appear to be examined on oath.




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