Paris Club Refund: Emefiele risks another arrest

CBN withdraws license of 146 financial Institutions

By Adewunmi Adenekan

Suspended Governor of the Central Bank (CBN), Godwin Emefiele risks another arrest as Justice Inyang Ekwo of the Federal High Court sitting in Abuja threatens to issue a warrant of arrest over his failure to appear in court to explain the circumstances surrounding the $53 million judgment debt arising from the Paris Club refund.

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

The development occurred following an intervention by the counsel to Emefiele, Audu Anuga, who prayed for the court to give his client another opportunity, because they had been unable to reach him since the last order, directing him to appear in court.

Anuga explained to the court that Emefiele, who was suspended as CBN governor, had been in custody. He added that all efforts to reach him to communicate the directive of the court to him were unsuccessful.

Justice Ekwo, on October 20, 2022, ordered the CBN governor to appear in court on January 18 over his alleged refusal to obey the order of the court for the payment of the judgment debt in favor of a legal practitioner, Mr. Joe Agi.

Agi had taken 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.

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