2 weeks Ago By Ado Oyeyemi
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the bank’s Director of Legal Services, Salam-Alada Kofo, are facing contempt proceedings at the Federal High Court in Abuja for allegedly defying a Supreme Court order. The case, filed by Melrose General Services Limited, is marked FHC/ABJ/CS/532/2025 and names Cardoso, Kofo, the CBN, the Economic and Financial Crimes Commission (EFCC), and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as respondents. Melrose claims that despite a Supreme Court ruling in June 2024 reversing the forfeiture of its funds, the CBN has yet to release N220 million.
The judgment had directed the release of N1.22 billion held in Melrose’s bank account and an additional N220 million transferred to Wasp Networks and Thebe Wellness as loans and investments. While Melrose confirms receiving the N1.
22 billion, it alleges that the remaining N220 million is still being withheld, prompting the contempt suit. The company, through its lawyer, Chikaosolu Ojukwu (SAN), argues that failure to fully implement the court’s ruling amounts to contempt and undermines the judiciary’s authority. The CBN, represented by Abdulfatai Oyedele, claims the court ordered the funds be returned to the original accounts of Wasp Network Limited and Thebe Wellness Services, not to Melrose.
Oyedele also stated that Wasp had applied for its N200 million share, while Thebe Wellness has not yet requested the remaining N20 million. The EFCC, represented by M.A.
Babatunde, filed a motion to be removed from the case, arguing it is not a necessary party. Justice Inyang Ekwo is scheduled to continue hearing the matter on June 4, 2025..
