The legal team of the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, the apex bank, and its legal director, on Monday informed the Federal High Court in Abuja of their settlement efforts following a contempt (committal to prison) suit filed against them by Melrose General Services over consultancy services.
The CBN Governor’s lawyer, Yusuf Ali SAN, disclosed the development to Justice Mohammed Umar during Monday’s proceedings.
Naijaonpoint recalls that the Supreme Court judgment in question concerns the reversal of the forfeiture of N1,222,384,857.84 and N220,000,000 in an appeal filed by Melrose General Services Limited against the Economic and Financial Crimes Commission (EFCC).
Naijaonpoint previously reported that in June 2024, the Supreme Court reversed the forfeiture order issued against the company’s funds in a case initiated at the Federal High Court by the EFCC.
In case number FHC/ABJ/CS/532/2025, Chikaosolu Ojukwu (SAN) brought a contempt suit before the trial court against the CBN Governor, the CBN Director, the EFCC, and the Minister of Finance.
Ojukwu cited the Supreme Court judgment, stating: “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.”
He had informed the court, through his filings, that after the judgment was delivered, the EFCC, via the CBN, refunded N1,222,384,857.84 to his client in “partial compliance with the judgment.”
However, he said the CBN Governor, Legal Director, and the CBN itself have allegedly failed, refused, and neglected to pay the outstanding balance of N220,000,000.00 to his client.
He emphasized that their refusal to obey, enforce, and give effect to the judgment, as directed by the EFCC and the Ministry of Finance, amounts to contempt and undermines the authority of the Supreme Court.
Counsel for the CBN Governor, the Legal Director, and the CBN (first to third respondents), Abdulfatai Oyedele, Esq., in his Notice of Preliminary Objection and Counter-Affidavit, referred the court 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 judgment never directed payment of N220,000,000 into the applicant’s account, but into the accounts of WASP NETWORK LIMITED and THEBE WELLNESS SERVICES (being the 2nd and 3rd respondents in the appeal), from where the said money was forfeited.
The court had fixed today for the substantive hearing of the matter.
“And we believe that this is a matter that can be settled out of court through settlement without necessarily requiring your lordship to write a ruling.”
“He(Ali) has agreed to speak to the CBN on the matter,” he said.
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’ Forum (NGF), citing it as proceeds of an unlawful activity involving the Paris Club refund.
Consequently, the apex court upheld the appellant’s case and set aside the lower courts’ forfeiture orders.
Consequently, the apex court upheld the appellant’s case and set aside the lower courts’ forfeiture orders.