Emefiele Summoned for $53 million in Paris Club Refund Debt

Godwin Emefiele, the CBN’s embattled governor, has been ordered to appear before an Abuja Federal High Court for a $53 million judgment obligation related to the Pars Club return.

On October 20, 2022, Justice Inyang Ekwo, the sitting judge, issued the decision in response to a garnishee request made by Senior Advocate of Nigeria (SAN), Joe Agi. Emefiele was required to appear in court on January 18 after the judge approved the application.

No reason was given for the adjournment by the court as of the time of filing this report. Recall that the dispute arose from an alleged $70 million judgment against Linas International Ltd for Agi’s assistance with the Paris Club refund.

Emefiele Summoned for $53 million in Paris Club Refund Debt

Emefiele was said to have only released $17 million, leaving an unpaid balance of $53 million. The court had on January 23, 2020, ruled that Emefiele must appear “to be examined on oath touching the means you have or have had, since the date of the said garnishee order absolute, to pay the balance of $53 million now due and payable under the said garnishee order absolute and also show cause why you should not be committed to prison for default in payment of the said sum”.

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In October 2022, Agi through his counsel Isaac Ekpa and Chinonso Obasi, filed another application against Linas International, minister of finance and the CBN, seeking “an order directing the inspector-general of police to arrest Emefiele and bring him to court alongside his lawyers: Damian Dodo, Audu Anuga, all Senior Advocates of Nigeria, and Ginika Ezeoke, Jessica Iyoke, Abdullahi Afolayan, and Olayemi Afolayan”.