THE Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the CBN’s Director of Legal Services, Salam-Alada Kofo, have been sued for contempt of court at the Federal High Court in Abuja over their alleged refusal to comply fully with a Supreme Court judgment.
Melrose General Services, the applicant, filed a contempt suit marked: FHC/ABJ/CS/532/2025, against Cardoso, Kofo, the Central Bank of Nigeria, the Economic and Financial Crimes Commission, and the Minister of Finance, listed as 1st to 5th respondents respectively.
The applicant claims that the respondents have failed to release N220 million owed to them, despite the Supreme Court’s judgment reversing the earlier forfeiture of the funds.
Meanwhile, the suit stems from the controversial Paris Club Refund, which involved payments to consultants who rendered services to the Nigerian Governors’ Forum.
In June 2024, the Supreme Court overturned a previous forfeiture order affecting Melrose General Services Limited, directing the release of frozen funds, including N1.22bn held in Melrose’s bank account and N220m transferred to Wasp Networks and Thebe Wellness as loans and investments.
The court ruled that the EFCC had failed to prove the funds were proceeds of fraud, as alleged, and ordered the release of the full amounts to the rightful owners.
However, nearly a year after the Supreme Court’s decision, Melrose alleges that while the CBN has refunded N1.22bn, the N220m remains unpaid.
Through its counsel, Chikaosolu Ojukwu (SAN), Melrose argues that the refusal to comply with the court’s directive constitutes contempt of court. The firm contends that the partial compliance undermines the authority of the Supreme Court.
In its defence, the CBN’s legal team, led by Abdulfatai Oyedele, claims the Supreme Court directed payment of the N220m to the original accounts of Wasp Network Limited and Thebe Wellness Services, not to Melrose.
Oyedele further argued that Wasp Network has requested N200m, while Thebe Wellness has yet to claim N20m.
The EFCC, represented by M.A. Babatunde, filed a motion for misjoinder, asserting it should not be a party to the case.
Justice Inyang Ekwo of the Federal High Court in Abuja will resume hearing the matter on June 4, 2025, to determine whether the CBN and its officials have wilfully disobeyed the Supreme Court or if their actions align with the judgment’s interpretation.
