Paris Club Fund Refund: Consultant File Bill insult to CBN

A consultant company, Melrose General Services Limited, has submitted an accusation of insult to the Nigerian Central Bank (CBN) for the refund of the Paris club’s money at the Federal High Court, Abuja.

The company filed the lawsuit after Bank Apex allegedly failed to comply with the Supreme Court’s decision which reversed the confiscation of N1.22 billion and N220 million in the appeal submitted last year.

CBN Governor, Olayemi Cardoso, Director of Bank Legal Services, Salam-Alada Kofo, Economic and Financial Crime Commission (EFCC), and Minister of Finance, Wale Edun, registered as respondents in a marked lawsuit: FHC/ABJ/CS/532/2025.

Judge Inyang Ekwo improved June 4 for this trial.

The Supreme Court in June 2024 canceled the previous confiscation of the Melrose General Services Limited fund, which was frozen after the investigation by the EFCC.

The disputed amounts include N1.222.384.857.84 in Melrose and N220 million bank accounts paid by companies to Wasp Networks and Thebe Wellness as loans and investments.

The High Court decided that the EFCC did not prove the funds were the result of fraud, as alleged.

The court excludes a lower court confiscation order and directs the release of the funds to their legitimate owners.

However, regardless of the Supreme Court’s decision, Melrose’s lawyer filed a lawsuit in court and accused that CBN and high officials only partially fulfilled the decision.

Melrose, in its application, on average that while the N1.22 billion was returned, the N220 million in circulation had not been paid.

The company, through its advisor, Chikaosolu Ojukwu (SAN), argues that the rejection of CBN to release the full amount is an insult to the court and damage the Supreme Court authority.

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