Wednesday, November 4, 2026

Paris Club Refund: Again, court summons Emefiele over $53 million debt

“Therefore I am going to give a date for you to report to the court on the compliance with the order of the court.

• June 6, 2023
Godwin Emefiele
Godwin Emefiele

A Federal High Court, Abuja, on Tuesday, ordered Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), to appear before it on July 19 over a $53 million judgement debt arising from the Pars Club refund.


Justice Inyang Ekwo, who gave the order during the hearing of a suit marked: FHC/ABJ/CS/1193/2017, insisted that the court would not hear Emefiele’s motion for stay until he appeared in court.


Mr Ekwo had, on Oct. 20, 2022, ordered the CBN governor to appear in court on Jan. 18 over his alleged refusal to obey the order of the court for the payment of the judgement debt in favour of a legal practitioner, Joe Agi, SAN.

However, on Jan. 18, proceedings could not go on as scheduled when the matter was called, prompting the court to subsequently adjourn the case till March 20.


Mr Agi had dragged Linas International Ltd, Minister of Finance and CBN to court as 1st to 3rd judgment debtors respectively, following an application for garnishee made by him as judgment creditor in the case.


Upon resumed hearing on Tuesday, Agi’s counsel, Ayodele Arotiowa, informed that on the last adjourned date, the court made an order that Mr Emefiele should appear in court on the next date and that the order had not been obeyed.


Audu Anuga, SAN, who appeared for Emefiele and CBN, reminded that the court did not sit on the last adjourned date.


“There is an intervening circumstance which we have brought to the attention of the court by filing of affidavit of fact,” he said.


The judge then asked when the appeal was filed by Mr Anuga.


“The appeal was filed on the 28th day of October 2022,” the lawyer responded. He said besides the appeal, they also filed a motion for stay.


Mr Anuga, who said that the appeal had been entered, said that was why they filed affidavit of fact.


Mr Arotiowa said though they had been served with the processes, they had also responded.

Mr Anuga told the court that they had pending application to set aside those order.


Justice Ekwo then said that it was because of the order he made that Emefiele should appear in court that prompted them to go on appeal “so that he does not appear in this court.”


“That is exactly what you have done. So, we, the trial court cannot do our job?


“I am not going to hear you on any application until Mr Godwin Emefiele appears in court.


“Therefore I am going to give a date for you to report to the court on the compliance with the order of the court.


“Upon being aware that the motion for stay of execution is a live matter in this court, this court shall not hear that application unless and until Mr Godwin Emefiele who has been ordered to appear in court appears in court,” the judge declared.


He adjourned the matter until July 19 for report.


The dispute stemmed from an alleged $70 million judgment against Linas International Ltd for the lawyer’s (Joe Agi) assistance with the Paris Club refund.


Mr Emefiele was said to have only released $17 million, leaving an unpaid balance of $53 million.


The court had on Jan. 23, 2020, ruled that Emefiele must appear “to be examined on oath, since the date of the said garnishee order absolute, to pay the balance of 53 million dollars 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”.


In October 2022, Agi through his counsel Isaac Ekpa and Chinonso Obasi, filed another application against Linas International, Minister of Finance and the CBN.


He sought 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.”

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Nigerian Bar Association

States

Independence: NBA urges Nigerians to expect better future

The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Diaspora

Nigerian-born Dapo Akande elected to International Court of Justice; Burnham, Miliband hail appointment

Mr Akande originally qualified as a lawyer in Nigeria, and is now one of the UK’s foremost international lawyers, with a career of global reach.

Hot news Home top

Kenya-linked alleged international fraudster Muhamed Dieye indicted in $370 million bank fraud captured fleeing U.S.

Mr Dieye is the leader and chief architect of the alleged conspiracy. He was charged with conspiracy to commit wire fraud and bank fraud, wire fraud and identity theft.

Federal Bureau of Investigation (FBI)

Anti-Corruption

U.S. court jails Nigerian building inspector Adebanjo Popoola six years for fraud

Mr Popoola “was so bold as to give 42% of the total funds disbursed under the City’s Stable Communities STL programme to his sister’s and his wife’s companies”, the memo stated.

Spain's Transport Minister Óscar Puente

Hot news Home top

Spain’s transport minister resigns days after train collision killed 68

Mr Puente announced his resignation in Congress when he appeared to speak about the deadly train crash that occurred last Wednesday.

A doctor/optometrist examining a patient’s eye.

Health

FG targets 20% increase in eye care workforce by 2030 

Mr Salako said Nigeria would mobilise domestic resources and strengthen collaboration with Commonwealth and international partners to achieve the targets.

Foreign Affairs ministers at CHOGM

World

CHOGM 2026: Commonwealth foreign ministers seek stronger cooperation

The meeting was chaired by Everly Paul Chet Greene, Antigua and Barbuda’s Minister of Foreign Affairs, Trade and Immigration.