The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has been dragged to court for contempt over his alleged refusal to release N220 million as ordered by the Supreme Court.
Melrose General Services Limited filed the case at the Federal High Court in Abuja. Also joined in the suit are the CBN’s Director of Legal Services, Salam-Alada Kofo; the Central Bank; the Economic and Financial Crimes Commission; and the Minister of Finance, Wale Edun.
The suit is marked: FHC/ABJ/CS/532/2025.
According to Melrose, the N220 million was part of funds wrongfully frozen in connection with the controversial Paris Club refund. The case involved payments to consultants who reportedly worked for the Nigerian Governors’ Forum.
In June 2024, the Supreme Court had ruled that the EFCC did not prove that the funds were from fraud. It ordered that all the frozen money — including N1.22 billion and the N220 million — be returned to the rightful owners.
Melrose said the CBN had already paid back N1.22 billion but failed to release the N220 million, even after the court’s judgment.
Through its lawyer, Chikaosolu Ojukwu, SAN, Melrose argued that the CBN’s refusal to pay the full amount was a clear case of contempt. The firm said this act was against the authority of the Supreme Court.
However, the CBN’s legal team, led by Abdulfatai Oyedele, said the money was not meant to be returned to Melrose but to the original accounts of Wasp Network Limited and Thebe Wellness Services, where it was earlier transferred as loans or investments.
Oyedele said Wasp Network had already requested N200 million, while Thebe Wellness had not yet claimed the remaining N20 million.
Meanwhile, the EFCC, represented by M.A. Babatunde, said it should not be part of the case. The anti-graft agency filed a motion asking the court to remove it from the list of respondents.
Justice Inyang Ekwo has fixed June 4, 2025, for the next hearing of the matter.
