Paris Club refund: Court threatens Emefiele with an arrest warrant

In a startling turn of events, the respected Federal High Court in Abuja recently issued a bold declaration declaring its intention to potentially issue an arrest warrant against none other than the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

The pressing issue is Emefiele’s conspicuous absence from the court proceedings, which has resulted in a failure to offer a thorough account of the circumstances underlying a huge $53 million judgment obligation originating from the Paris Club reimbursement.

In a significant move, Justice Inyang Ekwo has once again ordered Mr. Emefiele to present at the upcoming hearing. It is worth mentioning, however, that the respected Justice has stated his determination to exercise restraint, giving Mr. Emefiele an opportunity to make a complete explanation for his acts.

Audu Anuga, the acclaimed counsel representing Emefiele, pleaded with the court to give his client another chance. Anuga emphasized the regrettable circumstances surrounding their inability to contact Emefiele following the last court order demanding his appearance.

Anuga, a major actor in the ongoing legal procedures, revealed to the court that the newly suspended Central Bank of Nigeria (CBN) governor, Emefiele, had been detained. Anuga further revealed that despite repeated attempts to make contact with Emefiele and transmit the court’s decision, all efforts had been futile.

In a noteworthy step, prominent court figure Justice Ekwo delivered a convincing directive on Thursday, October 20, 2022. This directive requires the Governor of the Central Bank of Nigeria (CBN) to appear in court on Wednesday, January 18. The goal of this appearance is to address allegations that the governor violated a court order requiring the payment of a judgment obligation. It should be highlighted that this debt is owed to the distinguished legal practitioner, Joe Agi.

In an exciting change of events, we find ourselves diving into the complex issue that stems from a huge $70 million judgment against the prestigious Linas International Ltd. Joe Agi, SAN, the highly regarded legal practitioner who plays the role of the judgment creditor, is at the helm of this judicial war.

Agi has filed a lawsuit against Linas International Ltd., the renowned Minister of Finance, the Central Bank of Nigeria (CBN), and the acclaimed Emefiele. As the judgement creditor in this matter, Agi, acting as the first through fourth judgment debtors, has filed a compelling application for garnishment.

In an audacious move, Agi, the aggrieved party, has petitioned the court for intervention in the face of claims that Emefiele, the accused, has failed to pay the judgement debt.

In an astonishing turn of events, it has been revealed that, despite multiple court rulings, Emefiele, a notable individual, has allegedly only delivered $17 million of the promised sum. This leaves a huge $53 million amount unpaid, generating severe concerns and casting a shadow over the situation. The inability to comply with court orders has sparked a surge of scrutiny and accountability, as the public seeks answers about the remaining monies. The current circumstance has undoubtedly heightened the already tense mood surrounding this difficult issue.

Read: If Emefiele is prosecuted, he would bring down Buhari, his family, and APC members, according to Sowore

Ayodele Arotiowa, representing Joe Agi, was ready to submit his statement during the resumption of proceedings on Wednesday. However, Justice Ekwo intervened and demanded explanation on Emefiele’s adherence to previous directions.

Audu Anuga, Emefiele’s counsel, has shed light on the difficulties in establishing direct communication with Emefiele. This issue, according to Anuga, is due to Emefiele’s ongoing detention.

Our team worked hard to interact with the prominent 4th respondent, Mr. Emefiele, in an effort to create productive lines of communication. Regrettably, we learned that the renowned third respondent, the Central Bank of Nigeria (CBN), found some difficulties in establishing a communication channel with the aforementioned fourth respondent.

In response to the question, Anuga, the spokeswoman, stated that their sole reliance is on public notification of the fourth respondent’s incarceration, with no means of direct communication established thus far.

In a recent development, Justice Ekwo raised concern over the long delay in Governor Emefiele’s compliance, citing the fact that the matter was originally brought in 2017.

Anuga pleaded for an extension of time in a furious appeal, pointing out that Emefiele had not been properly informed about the court’s earlier opportunity to follow the provided directions.

In a significant development, the court has given Mr. Emefiele and the Central Bank of Nigeria (CBN) until October 31, 2023, to submit sufficient reasons to avoid the issuing of an arrest warrant against the former CBN governor.

In an unexpected turn of events, Mr. Emefiele has found himself embroiled in a legal struggle despite his suspension and concomitant incapacity to execute his authority as the head of the Central Bank of Nigeria (CBN). According to the court, the action was filed against him in his personal capacity.

In an unexpected turn of events, the presiding judge has decided to postpone the case’s hearings until Tuesday, October 31. This decision was made to give the Central Bank of Nigeria (CBN) and its Governor, Mr. Godwin Emefiele, an opportunity to present their views against the issuing of an arrest warrant for the former CBN governor.

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