The authorized staff of the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, the apex bank, and its authorized director, on Monday knowledgeable the Federal Excessive Court docket in Abuja of their settlement efforts following a contempt (committal to jail) go well with filed towards them by Melrose Basic Companies over consultancy companies.
The CBN Governor’s lawyer, Yusuf Ali SAN, disclosed the event to Justice Mohammed Umar throughout Monday’s proceedings.
Nairametrics remembers that the Supreme Court docket judgment in query considerations the reversal of the forfeiture of N1,222,384,857.84 and N220,000,000 in an enchantment filed by Melrose Basic Companies Restricted towards the Financial and Monetary Crimes Fee (EFCC).
Nairametrics beforehand reported that in June 2024, the Supreme Court docket reversed the forfeiture order issued towards the corporate’s funds in a case initiated on the Federal Excessive Court docket by the EFCC.
Firm sues CBN
In case quantity FHC/ABJ/CS/532/2025, Chikaosolu Ojukwu (SAN) introduced a contempt go well with earlier than the trial court docket towards the CBN Governor, the CBN Director, the EFCC, and the Minister of Finance.
Ojukwu cited the Supreme Court docket judgment, stating: “The appellant’s utility (Melrose Basic Companies Restricted) to put aside the order of interim forfeiture of the sum of N1,222,384,857.84 within the appellant’s account with Access Bank Plc and N220,000,000.00 within the accounts of the 2nd and third respondents (Wasp Networks and Thebe Wellness) is hereby granted.”
He had knowledgeable the court docket, by way of his filings, that after the judgment was delivered, the EFCC, by way of the CBN, refunded N1,222,384,857.84 to his consumer in “partial compliance with the judgment.”
Nevertheless, he mentioned the CBN Governor, Authorized Director, and the CBN itself have allegedly failed, refused, and uncared for to pay the excellent stability of N220,000,000.00 to his consumer.
He emphasised that their refusal to obey, implement, and provides impact to the judgment, as directed by the EFCC and the Ministry of Finance, quantities to contempt and undermines the authority of the Supreme Court docket.
Counsel for the CBN Governor, the Authorized Director, and the CBN (first to 3rd respondents), Abdulfatai Oyedele, Esq., in his Discover of Preliminary Objection and Counter-Affidavit, referred the court docket to a letter written to the CBN by Messrs Duale, Ovia & Alex-Adedipe on December 12, 2024.
The CBN official argued that the Supreme Court docket judgment by no means directed fee of N220,000,000 into the applicant’s account, however into the accounts of WASP NETWORK LIMITED and THEBE WELLNESS SERVICES (being the 2nd and third respondents within the enchantment), from the place the mentioned cash was forfeited.
The court docket had mounted at the moment for the substantive listening to of the matter.
What Transpired in Court docket
- On the court docket session on Monday, Ali advised the choose that whereas the matter began with “some very large figures,” what’s simply excellent is allegedly “simply N20 million naira.”
- He added, “We’ve got had preliminary discussions inside ourselves; that’s, the counsel to the applicant (Melrose) and ourselves.
“And we imagine that this can be a matter that may be settled out of court docket by way of settlement with out essentially requiring your lordship to jot down a ruling.”
- The senior lawyer then requested for a date to come back again and make a report on the settlement.
- Ojukwu confirmed being reached out to for a settlement by the CBN’s lead counsel.
“He(Ali) has agreed to talk to the CBN on the matter,” he mentioned.
- He confirmed events are “settling” and completely agreed with Ali to come back again to report on the settlement.
- Ali assured the court docket of reporting again on “a optimistic notice.”
- After listening to from the attorneys, the choose adjourned till July 22, 2025, for a report on the settlement.
Backstory
The EFCC had claimed that an investigation revealed N3.5 billion was allegedly fraudulently paid to the appellant (Melrose) for a purported consultancy job for the Nigerian Governors’ Discussion board (NGF), citing it as proceeds of an illegal exercise involving the Paris Membership refund.
- On the apex court docket, Melrose’s authorized staff argued that the disputed funds have been fee for a contractual and consultancy settlement between their consumer and related authorities stakeholders.
- In its majority resolution, the Supreme Court docket agreed with the appellant, ruling that the EFCC didn’t show the funds have been proceeds of fraud.
Consequently, the apex court docket upheld the appellant’s case and put aside the decrease courts’ forfeiture orders.
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