By TAIYE AGBAJE

Hearing in the contempt proceeding against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, over alleged disobedience to a Supreme Court judgment was, on Monday, stalled at the Federal High Court in Abuja.

The development occurred following an oral application by C.E. Odum, who appeared for the applicant, Melrose General Services Limited, seeking an adjournment before Justice Mohammed Umar.

When the matter was called, Odum, who held the brief of Chikaosolu Ojukwu, SAN, informed the court that though the lead counsel was earlier in court, he said there had been agreement with Cardoso?s lawyer, Prof. Yusuf Ali, SAN, who also was not in court, for an adjournment until June 30 at 12 noon.

?The matter was slated for hearing today my lord. The 4th and 5th defendants were not in court though they were duly served with hearing notice.

?In view of the absence of Prof. Yusuf Ali and my lead counsel in court, we will be asking for an adjournment to June 30 at 12pm,? he said.

Sefinat Lamidi, who held brief for Ali, did not oppose Odum?s application.

?That?s the position my lord? she said, and the judge adjourned the matter until June 30 for hearing.

The News Agency of Nigeria (NAN) reports that in June 2024, the Supreme Court overturned a previous forfeiture order against Melrose General Services Limited?s funds, which had been frozen following an investigation by the Economic and Financial Crimes Commission (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 loan and investment.

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

The court set aside the lower courts? forfeiture orders, directing 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, alleging that the CBN and its top officials had only partially complied with the judgment.

Melrose, in its application before Justice Ekwo, averred that while the N1.22 billion was refunded, the outstanding N220 million remains unpaid.

The disputed money was part of the Paris Club refund.

The company, through its counsel, filed the contempt suit against the CBN governor; the apex bank?s Director of Legal Services, Salam-Alada Kofo and the EFCC.

Others are the Minister of Finance, arguing that their refusal to release the full amount constitutes contempt of court and undermines the Supreme Court?s authority.

NAN recalls that the dispute stems from the controversial Paris Club refund, a settlement involving payments to consultants for services rendered to the Nigerian Governors? Forum (NGF).

The EFCC had claimed that an investigation revealed N3.5 billion was allegedly fraudulently paid to the appellant for a purported consultancy job for the NGF.

At the apex court, Melrose?s legal team argued that the disputed funds were payment for a contractual and consultancy agreement between their client and relevant government stakeholders

In its majority decision, the Supreme Court agreed with the appellant, ruling that the EFCC failed to prove the funds were proceeds of fraud.

Consequently, the court upheld the appellant?s case and set aside the lower courts? forfeiture orders. (NAN)

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