Court gives Emefiele Jan. 25 to appear over $53m debt

A Federal High Court in Abuja has granted former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, an extension until January 25 to personally appear in court and clarify the circumstances surrounding the $53 million judgment debt linked to the Paris Club refund. Failure to appear may result in an arrest warrant being issued.

The decision was prompted by Emefiele and CBN’s legal representative, Audu Anuga, SAN, who noted their client’s unavailability due to ongoing custody.

An affidavit explaining why an arrest warrant should not be issued was filed on October 30.

Justice Inyang Ekwo instructed Mr. Joe Agi, SAN, the judgment creditor, to confirm receipt of the affidavit.

Agi’s representative confirmed receipt and expressed the need to respond.

Justice Ekwo, while warning against late filing of documents, emphasized that the case commenced on July 19.

Anuga suggested that with ongoing settlement discussions and the CBN having a new governor, settlement options should be explored. However, Justice Ekwo insisted on Emefiele’s appearance on the next scheduled date.

“As for the 4th respondent (Emefiele), I have always said, contempt proceedings follow a person whether the person Is still there or not.

“In this case, I have given this particular person so much liberty, so much leniency and the situation does not seem to change.

“I will adjourn the matter because the other side says they want to react to the process so there is no much talk.

“Order of court must be complied with and even if no one complies with the order of the court, the court must comply with its order.

“I will give you sufficient time,” he said.

The judge, consequently, adjourned the matter until Jan. 25 for Emefiele to show cause why an arrest warrant should not be issued against him.