Former CBN governor, Emefiele, faces arrest threat as judge demands explanation for $53m debt

Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been given a deadline of January 25 to appear before the Federal High Court in Abuja to provide an explanation regarding a $53 million judgment debt arising from the Paris Club refund.
Justice Inyang Ekwo warned that if Emefiele fails to appear, a warrant for his arrest would be issued.

Emefiele’s counsel, Audu Anuga, informed the court that his client’s appearance had been hindered as he was still in custody.
The judgment debt of $70 million was being pursued by Senior Advocate of Nigeria, Joe Agi, through a proceeding against the CBN, with the aim of recovering the debt from Linas International Limited and the Minister of Finance.

The CBN had already paid part of the debt, leaving a balance of $53 million.
Despite repeated orders from Justice Ekwo, Emefiele had failed to appear before the court.
In response to the plea by Emefiele’s lawyer, the judge expressed his determination to enforce compliance with court orders, emphasizing that Emefiele must appear.
The Legal Department of the CBN filed an affidavit on Emefiele’s behalf, stating that he had been in the custody of the Department of State Services since June 10.

However, the court maintained that Emefiele’s absence did not exempt him from contempt proceedings.
The judge adjourned the matter until January 25, providing an opportunity for Emefiele to demonstrate why an arrest warrant should not be issued against him.
The court stressed the importance of compliance with its orders and allowed time for the opposing party to respond to the process.