CBN Appeals against N38bn Judgment Debt – THISDAYLIVE


Alex Enumah in Abuja

The Central Bank of Nigeria (CBN) has appealed the judgment of the Federal High Court, which ordered the garnishee of the sum of N38 billion belonging to the federal and 36 state governments for the payment of an alleged judgment debt.

The apex bank has, in addition, also filed a motion seeking a stay of the execution of the judgment which is in favour of a senior legal practitioner, Chief Joe Agi (SAN)

The applicant, Agi, had approached the Federal High Court for a garnishee order nisi against the CBN, Minister of Finance/Chairman Federation Account Allocation Committee (FAAC) and the Accountant General of the Federation who were sued as 1st, 2nd and 3rd garnishees, respectively.

The request for garnishee order nisi was predicated on a judgment of the Federal High Court delivered on June 9, 2022, by Justice Taiwo  Taiwo (now retired), wherein the Minister of Finance, the Nigeria Governors’ Forum (NGF), Attorney General of the…

Source: Thisday Newspaper