CEM REPORT, FINANCE | A Federal High Court in Abuja has summoned the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to explain his refusal to obey a valid order for payment of a $70 million debt.
The summon was issued by Justice Inyang Edem Ekwo upon confirmation that Emefiele was yet to pay the judgment debt.
The court had ordered the apex bank, through Garnishee Nisi Absolute, to pay Joe Odey Agi (SAN), $70 million, being legal fees for services rendered to some states and the 774 councils.
However, Emefiele rather than honouring the judgment summon served through a newspaper publication, through his lawyer, Damian Dodo (SAN), applied that the summon be set aside.
His ground was that an appeal had been instituted against the court order for the judgment summon.
But counsel to the applicant, Joseph Njikonye (SAN) objected to Emefiele’s motion on the ground that the order for the payment had not been effected.
Njikonye argued that the CBN governor is in contempt of court and must be made to purge himself before the court could give him an audience.
Justice Ekwo agreed that Emefiele must first obey the subsisting order of the court on the judgment debt payment or honour judgment summons issued against him to offer reasons for disobeying the court order.
The judge, subsequently, fixed January 18, 2023, for the CBN governor to physically and personally appear before the court as required by law.