Federal High Court Threatens Arrest Warrant for Suspended CBN Governor Over $53 Million Debt

In a recent development at the Federal High Court in Abuja, the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is facing the possibility of an arrest warrant. The court has expressed frustration over his failure to appear and explain the circumstances surrounding a $53 million judgment debt from the Paris Club refund.

Justice Inyang Ekwo, presiding over the case, ordered Emefiele to appear on the next adjourned date. However, Emefiele’s counsel, Audu Anuga (SAN), informed the court that they have been unable to reach the ex-CBN boss since the last order was issued.

The legal battle stems from an application for garnishee filed by legal practitioner Joe Agi (SAN), who sought the payment of the judgment debt. Emefiele, along with Linas International Ltd, Minister of Finance, and CBN, were named as the judgment debtors.

Despite the court’s previous orders, Emefiele’s absence has raised concerns, particularly given his suspension as CBN governor and his alleged detention. Anuga explained that the court’s directive had not been communicated to Emefiele, and the situation was further complicated by the information of his suspension.

Justice Ekwo expressed his disappointment at the delays and granted a final opportunity for Emefiele to explain himself on the next adjourned date. The matter has been adjourned until October 31, during which the CBN and Emefiele are expected to show cause as to why an arrest warrant should not be issued against the former CBN governor.