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Melrose Drags CBN, EFCC to Court Over Alleged Disobedience of Supreme Court Order
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the Director of Legal Services, Salam-Alada Kofo, are facing contempt proceedings for allegedly failing to fully comply with a Supreme Court ruling concerning the Paris Club Refund.....KINDLY READ THE FULL STORY HERE▶
Justice Inyang Edem Ekwo of the Federal High Court in Abuja has scheduled a hearing for June 4, 2025, in the case brought by Melrose General Services Limited. The company, linked to the Paris Club Refund scheme, accuses the CBN and others of disregarding a Supreme Court directive that reversed the forfeiture of N1.22 billion and N220 million tied to its operations.
In June 2024, the Supreme Court ruled in favor of Melrose, overturning a previous forfeiture order obtained during an investigation by the Economic and Financial Crimes Commission (EFCC). The court determined that the EFCC failed to prove the funds were obtained through fraudulent means and ordered their release.
While the CBN refunded the N1.22 billion, Melrose claims the outstanding N220 million—paid earlier to Wasp Networks and Thebe Wellness as a loan and investment—remains unpaid, prompting the contempt charges. The company argues that the CBN’s partial compliance violates the Supreme Court’s judgment.
Melrose, represented by Senior Advocate of Nigeria (SAN) Chikaosolu Ojukwu, contends that the refusal to remit the remaining funds undermines judicial authority. Justice Ekwo had previously granted permission to serve contempt notices (Forms 48 and 49) to the CBN officials, giving them seven days to respond.
At the most recent hearing, Melrose’s legal representative, Segun Fiki, confirmed that all parties, except the Ministry of Finance, had responded to the court summons. Meanwhile, CBN’s legal counsel, Abdulfatai Oyedele, submitted a counter-affidavit and preliminary objection. He argued that the Supreme Court did not direct the payment of N220 million to Melrose directly, but to the accounts of Wasp Networks and Thebe Wellness, from which the funds were originally seized.
The CBN further stated that while Wasp Networks had claimed N200 million, Thebe Wellness had yet to demand their N20 million share. According to the CBN, it acted within the scope of the Supreme Court’s directive and did not engage in any wrongdoing.
The EFCC, represented by M.A. Babatunde, also filed a motion, asserting it was wrongly included in the suit.
The court is expected to determine in June whether the CBN and its officials willfully disobeyed the Supreme Court judgment or acted lawfully based on their interpretation of the ruling.
This legal battle stems from the controversial Paris Club Refund—a payment made to consultants for services rendered to the Nigerian Governors’ Forum.
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