Paris Club Refund: Firm Files Contempt Charge against CBN
A consulting firm, Melrose General Services Limited, has filed a contempt charge against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and its Director of Legal Services, Salam-Alada Kofo, over a dispute on the Paris Club refund.
The company instituted the suit marked: FHC/ABJ/CS/532/2025 before Justice Inyang Ekwo of the Federal High Court in Abuja.
Cardoso and Kofo are facing contempt proceedings for allegedly failing to comply with a Supreme Court judgment that reversed the forfeiture of N1.22 billion and N220 million in an appeal by Melrose General Services.
Justice Ekwo had fixed June 4 for the hearing of the matter. in June 2024, the Supreme Court overturned a previous forfeiture order against Melrose General Services Limited’s funds, which had been frozen following an investigation by the Economic and Financial Crimes Commission (EFCC).
The disputed sums included N1,222,384,857.84 in Melrose’s bank account and N220 million paid by the company to Wasp Networks and Thebe Wellness as loan and investment.
The apex court had ruled that the EFCC had not proven the funds were proceeds of fraud, as alleged. The court set aside the lower courts’ forfeiture orders, directing the release of the funds to their rightful owners.
However, despite the Supreme Court’s decision, Melrose’s lawyers filed a lawsuit at the trial court, alleging that the CBN and its top officials had only partially complied with the judgment. Melrose, in its application before Justice Ekwo, averred that while the N1.22 billion was refunded, the outstanding N220 million remains unpaid.
The company, through its counsel Chikaosolu Ojukwu, SAN, filed the contempt suit against the CBN governor, Director of Legal Services, the EFCC and the Minister of Finance, arguing that their refusal to release the full amount constitutes contempt of court and undermines the Supreme Court’s authority.
Ojukwu informed the court that the EFCC, via the CBN, had only made a partial refund, and accused the CBN officials of neglecting their legal obligations regarding the remaining funds.
He cited the apex court judgement which ruled that, “The appellant’s application( Melrose General Services limited) to set aside the order of interim forfeiture of the sum of N1,222,384,857.84 in the appellant’s account with Access Bank Plc and N220,000,000.00 in the accounts of the 2nd and 3rd respondents(Wasp Networks and Thebe Wellness), is hereby granted.”
It would be recalled that Justice Ekwo had, on March 27, granted Melrose’s request to serve the contempt applications (Form 48 and Form 49) on the respondents, giving them seven days to reply.
At the April 10 hearing, Melrose’s counsel, Segun Fiki, confirmed that all parties, except the Ministry of Finance, had responded to the court documents.
The CBN’s legal team, represented by Abdulfatai Oyedele, filed a preliminary objection and counter-affidavit, arguing that the Supreme Court did not direct payment of N220 million to Melrose’s account, but to the accounts of Wasp Network Limited and Thebe Wellness Services, from which the money was originally forfeited.
The CBN submitted that Wasp Network’s solicitors had requested payment of N200 million, while Thebe Wellness had yet to claim their N20 million share.
The CBN maintained it had acted in compliance with the judgment and that there was no unethical conduct. The EFCC, represented by Martha Babatunde, filed a motion for misjoinder, asserting it should not be a party to the contempt case.
The judge has adjourned the matter until June 4 for hearing. The dispute stems from the controversial Paris Club refund, a settlement involving payments to consultants for services rendered to the Nigerian Governors’ Forum. #Paris Club Refund: Firm Files Contempt Charge against CBN US Dollar Slides as Trade Tensions Cloud Sentiment
