Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the CBN’s Director of Legal Services, Salam-Alada Kofo, are facing contempt charges at the Federal High Court in Abuja for allegedly refusing to comply fully with a judgment of the Supreme Court.
The case was brought before the court by Melrose General Services Limited, which filed a suit marked FHC/ABJ/CS/532/2025.
Other respondents in the matter include the Central Bank of Nigeria, the Economic and Financial Crimes Commission (EFCC), and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
Melrose claims that despite the Supreme Court’s ruling in June 2024, which reversed an earlier forfeiture order and directed the release of its funds, the CBN has failed to return N220 million that was part of the judgment.
According to the firm, only N1.22 billion has been refunded so far, leaving the N220 million still outstanding.
The dispute is linked to the controversial Paris Club refund, involving payments to consultants engaged by the Nigerian Governors’ Forum.
The Supreme Court had ruled that the EFCC did not provide sufficient evidence to prove the funds were linked to fraud, and ordered the full release of the seized money, including N220 million previously transferred to Wasp Network Limited and Thebe Wellness Services as loans and investments.
Through its legal counsel, Chikaosolu Ojukwu (SAN), Melrose argues that the failure to fully obey the court’s decision amounts to contempt and undermines the authority of the highest court in the land.
In response, the CBN’s legal team led by Abdulfatai Oyedele maintained that the Supreme Court’s directive was for the N220 million to be paid into the original accounts of Wasp Network and Thebe Wellness, and not to Melrose.
Oyedele added that Wasp Network had applied for N200 million, while Thebe Wellness had yet to claim N20 million.
Meanwhile, the EFCC, represented by M.A. Babatunde, filed a motion seeking to be removed from the suit, arguing that it was wrongly joined in the case.
Justice Inyang Ekwo has scheduled further hearing on the matter for June 4, 2025.