Paris Club refund: Consultant files contempt charge against CBN

A consulting firm, Melrose General Services Limited, has filed a contempt charge against the Central Bank of Nigeria (CBN) over the Paris Club refund at the Federal High Court, Abuja.

The company filed the suit after the apex bank allegedly failed to comply with a Supreme Court judgment that reversed the forfeiture of N1.22 billion and N220 million in an appeal filed last year.

The CBN Governor, Olayemi Cardoso, the bank’s Director of Legal Services, Salam-Alada Kofo, the Economic and Financial Crimes Commission (EFCC), and the Minister of Finance, Wale Edun, were listed as respondents in the suit marked: FHC/ABJ/CS/532/2025.

Justice Inyang Ekwo fixed June 4 for the hearing of the matter.

The Supreme Court in June 2024 overturned a previous forfeiture order against Melrose General Services Limited’s funds, which were frozen following an investigation by the EFCC.

The disputed sums included N1,222,384,857.84 in Melrose’s bank account and N220 million paid by the company to Wasp Networks and Thebe Wellness as a loan and investment.

READ ALSO: PARIS CLUB REFUNDS: Court rejects state Attorneys’ request to join FG’s suit on $418m payments

The apex court ruled that the EFCC had not proven the funds were proceeds of fraud, as alleged.

The court set aside the lower courts’ forfeiture orders and directed the release of the funds to their rightful owners.

However, despite the Supreme Court’s decision, Melrose’s lawyers filed a lawsuit at the trial court and alleged that the CBN and its top officials had only partially complied with the judgment.

Melrose, in its application, averred that while the N1.22 billion was refunded, the outstanding N220 million had not been paid.

The company, through its counsel Chikaosolu Ojukwu (SAN), argued that the CBN’s refusal to release the full amount constitutes contempt of court and undermines the Supreme Court’s authority.

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