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Tuesday, June 18, 2024
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JUST IN: CBN Gov. risks jail term for disobeying court

By Monsurudeen Olowoopejo

An industrial court sitting in Lagos has ordered the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, to appear before it and explain reasons he should not be committed to prison for disobedience.

The court ruled that the governor has refused to comply with an order issued against the country’s apex financial institution and didn’t considered approaching the court to seek for redress.

It stated that the CBN boss could only be spared from facing any punishment when it appears before the court on July 18, 2024 to explain why it’s order has not been complied with five years after the court issued it.

Justice Elizabeth Oji gave the order
while ruling on the application filed by one Mrs Dunmoye against the CBN for refusing and failing to obey a garnishee order absolute made on March 25, 2019.

Oji held that the conduct of the apex financial institution is one calculated to bring authority of law into disrespect.

In a well-considered ruling, the judge stated that no justification for the Central Bank of Nigeria to disrespect the court, and agreed with the Applicant’s argument that the action of the CBN portends danger for the society if the orders that emanate from judicial processes are flagrantly disobeyed.

“The respondent is ordered to appear before this court on 18th July 2024 to show cause why it should not be committed to prison through its governor Mr Olayemi Cardoso for the respondent’s act of disobedience to the order of court.

“Service of this ruling, the order absolute of 25th of March 2019 and forms 48 and 49 are to be served on the Respondent.” The Court ruled.

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