The Federal High Court in Abuja has adjourned the hearing on a $53 million judgment debt against the Central Bank of Nigeria to January 25, 2024.

The judge, Justice Inyang Ekwo, had previously ordered former CBN Governor Godwin Emefiele to appear in court to explain the circumstances surrounding the debt, but Emefiele has failed to do so.

Emefiele’s lawyer, Audu Anuga, told the court on Wednesday that Emefiele cannot appear because he is still in custody of the Department of State Services.

“I verily believe that the cause of justice will not be served should the honourable court proceed to issue a warrant for the arrest of Godwin Emefiele,” he said.

Justice Ekwo adjourned the matter to January 25 to give Emefiele another opportunity to appear in court. 

He also said that he will consider issuing an arrest warrant against Emefiele if he fails to appear on that date.

“As for the 4th respondent (Emefiele), I have always said, contempt proceedings follow a person whether the person is still there or not.

“In this case, I have given this particular person so much liberty, so much leniency and the situation does not seem to change.

“I will adjourn the matter because the other side says they want to react to the process, so there is not much talk.

“Orders of court must be complied with and even if no one complies with the order of the court, the court must comply with its order.

“I will give you sufficient time,” he said.

The judge then adjourned the matter until January 25 for Emefiele to show cause why an arrest warrant should not be issued against him.

The $53 million judgment debt arose from a garnishee order obtained against the CBN by a Senior Advocate of Nigeria, Mr Joe Agi. Agi had obtained a judgment debt of $70 million against Linas International Limited and the Minister of Finance, and he sought to recover the debt from the CBN.

The CBN paid Agi part of the $70 million, but a balance of $53 million is still outstanding.