The Federal High Court in Abuja has filed a contempt of court lawsuit against Olayemi Cardoso, the governor of the Central Bank of Nigeria, and Salam-Alada Kofo, the director of legal services for the CBN, for allegedly failing to fully abide by a Supreme Court ruling.
The applicant, Melrose General Services, filed a contempt suit against Cardoso, Kofo, the Central Bank of Nigeria, the Economic and Financial Crimes Commission, and the Minister of Finance, who were designated as the first and fifth respondents, respectively, with the suit number FHC/ABJ/CS/532/2025.
Despite the Supreme Court’s ruling overturning the previous seizure of the cash, the applicant alleges that the respondents have not released N220 million that is owing to them.
The lawsuit, meanwhile, is related to the contentious Paris Club Refund, which entailed paying consultants who worked for the Nigerian Governors’ Forum.
A prior forfeiture ruling involving Melrose General Services Limited was overturned by the Supreme Court in June 2024, ordered the release of frozen monies, including N1.22 billion kept in Melrose’s bank account and N220 million given to Wasp Networks and Thebe Wellness as loans and investments.
The court ordered the whole amounts to be released to the legal owners, ruling that the EFCC had not proven the cash were the proceeds of fraud as claimed.
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.
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