Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Seplat, FirstHoldco Boost Stock Market Cap, Investors Gain N1.38tn

    August 28, 2026

    NAHCO’s Air France-KLM Mandate Opens Higher-Value Growth Chapter

    August 28, 2026

    XRP Price Slumps by 5% on Fed Hawkish Comment Reactions

    August 28, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Seplat, FirstHoldco Boost Stock Market Cap, Investors Gain N1.38tn
    • NAHCO’s Air France-KLM Mandate Opens Higher-Value Growth Chapter
    • XRP Price Slumps by 5% on Fed Hawkish Comment Reactions
    • FTSE Russell Upgrades Nigeria to Frontier Market Status
    • GCR Upgrades Coronation Merchant Bank Ratings to BBB+/A2
    • Alibaba Tokenized bStocks Dips by 2% on Thin Transactions
    • Crude Oil Prices Decline as Supply Outlook Improves
    • Huge Funds Chase Nigerian OMO Bills in Search for 21% True Yield
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Saturday, August 29
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » Arrest Warrant::Court Gives Emefiele Jan. 25 to Appear over $53m Debt

    Arrest Warrant::Court Gives Emefiele Jan. 25 to Appear over $53m Debt

    Marketforces AfricaBy Marketforces AfricaNovember 1, 2023 News No Comments5 Mins Read
    A Federal High Court in Abuja has given former Governor of Central Bank of Nigeria (CBN), Godwin Emefiele
    Governor-of-CBN-Godwin-Emefiele
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Arrest Warrant::Court Gives Emefiele Jan. 25 to Appear over $53m Debt

    A Federal High Court in Abuja has given former Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, until Jan. 25 to appear in court to explain circumstances surrounding the 53 million dollar-judgment debt arising from the Pars Club refund.

    Justice Inyang Ekwo, in a short ruling on Tuesday, gave Emefiele another opportunity to appear in court in person or an arrest warrant issued against the ex-CBN governor.

    The development followed a plea by Emefiele and CBN’s counsel, Audu Anuga, SAN, that all efforts to ensure that his client appeared in person on the order of the court were unsuccessful as he was still in custody.

    Anuga informed the court that an affidavit to show cause on why an arrest warrant should not be issued against Emefiele was filed on Oct. 30.

    Justice Ekwo then asked I.A. Nnana, the lawyer who represented Mr Joe Agi, SAN, the judgment creditor/applicant in the suit, if he had been served with the affidavit

    .

    Nnana responded that they were served on Monday, almost at the close of work and that they would like to react.

    The judge, who cautioned Anuga against late filing of processes, reminded that the matter came up on July 19.

    The senior lawyer, however, explained that all efforts were made until Friday (Oct. 27) to ensure that Emefiele was released on order of the court but the order was not complied with, which necessitated the filing of the affidavit.

    Anuga, however, told the court that since parties had been exploring settlement before and the CBN had a new governor, they should be allowed to explore settlement options.

    But Justice Ekwo insisted that Emefiele must appear in the next adjourned day.

    “As for the 4th respondent (Emefiele), I have always said, that 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 not 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.

    The News Agency of Nigeria (NAN) reports that in the affidavit deposed to on Emefiele’s behalf by Jeremiah Utaan, a legal officer in the Legal Department of CBN, he said Emefiele was willing to appear before the court as directed but for his continued detention by the Department of State Service (DSS).

    He said the information was of public knowledge from June 10 till the date which had made it impossible for Emefiele to physically appear before the court on July 19, the last adjourned date.

    Utaan, in the affidavit, averred that Emefiele’s absence at the proceedings was not out of disrespect to the court but rather due to circumstances beyond his control.

    “I verily believe that the cause of justice will not be served should the Honourable Court proceed to issue a Warrant for the arrest of Godwin Emefiele,” he said.

    The judge had, on July 19, threatened to issue a warrant of arrest against Emefiele over his failure to appear in court.

    He said he was minded to exercise restraint in the proceeding to allow the ex-CBN boss to explain himself.

    NAN reports that Justice Ekwo had, on Oct. 20, 2022, ordered the CBN governor to appear in court on Jan. 18 over his alleged refusal to obey the order of the court for the payment of the judgment debt in favour of a legal practitioner, Joe Agi, SAN.

    Agi had dragged Linas International Ltd, Minister of Finance, CBN and Emefiele to court as 1st to 4th judgment debtors respectively, following an application for garnishee made by him as judgment creditor in the case.

    However, on Jan. 18, proceedings could not go on as scheduled when the matter was called, prompting the court to subsequently adjourn the case until March 20, before it was fixed for June 6 again.

    NAN reports that the judge, on June 6, ordered Emefiele to appear before it on July 19.

    But President Bola Tinubu, on June 9, suspended him as CBN governor and he was directed to transfer his responsibilities to the deputy governor, operations directorate.

    No sooner had Emefiele been suspended than the DSS, on June 10, announced his arrest and detention.

    It was also reported that Emefiele was arrested and detained by the Economic and Financial Crimes Commission (EFCC) on Oct. 26 less than an hour after the DSS released him.

    The EFCC was said to be probing him over alleged impropriety during his term as the head of the apex bank.

    Naira Steadies as Banks Issue Update on FX Purchase

    Central Bank of Nigeria Nigeria
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Keep Reading

    Seplat, FirstHoldco Boost Stock Market Cap, Investors Gain N1.38tn

    NAHCO’s Air France-KLM Mandate Opens Higher-Value Growth Chapter

    XRP Price Slumps by 5% on Fed Hawkish Comment Reactions

    FTSE Russell Upgrades Nigeria to Frontier Market Status

    GCR Upgrades Coronation Merchant Bank Ratings to BBB+/A2

    Alibaba Tokenized bStocks Dips by 2% on Thin Transactions

    Add A Comment

    Comments are closed.

    Editors Picks

    Seplat, FirstHoldco Boost Stock Market Cap, Investors Gain N1.38tn

    August 28, 2026

    NAHCO’s Air France-KLM Mandate Opens Higher-Value Growth Chapter

    August 28, 2026

    XRP Price Slumps by 5% on Fed Hawkish Comment Reactions

    August 28, 2026

    FTSE Russell Upgrades Nigeria to Frontier Market Status

    August 28, 2026

    GCR Upgrades Coronation Merchant Bank Ratings to BBB+/A2

    August 28, 2026
    Latest Posts

    Seplat, FirstHoldco Boost Stock Market Cap, Investors Gain N1.38tn

    August 28, 2026

    NAHCO’s Air France-KLM Mandate Opens Higher-Value Growth Chapter

    August 28, 2026

    XRP Price Slumps by 5% on Fed Hawkish Comment Reactions

    August 28, 2026

    FTSE Russell Upgrades Nigeria to Frontier Market Status

    August 28, 2026

    GCR Upgrades Coronation Merchant Bank Ratings to BBB+/A2

    August 28, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.