Judgment creditors threaten Fed Govt, CBN

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Following judgment of the Supreme Court delivered two years ago against the Federal Government and the Central Bank of Nigeria (CBN), the judgment creditors, Interstella Communications Limited and Obi Thompson, have threatened to recover about $285,124,422.30 judgment sum from property and accounts owned by the government abroad.

They berated the government and the CBN for ignoring the Supreme Court judgment delivered on December 15, 2017 in their favour.

The Supreme Court verdict was an affirmation of earlier judgments of the Federal High Court and Court of Appeal.

The judgment creditors claimed to have made repeated appeals in writing to the CBN and the Federal Government, the last of which they said they did on September 2, to get paid for the judgment debt but to no avail.

According to them, they are left with “no choice than to proceed with all enforcement options provided in the law”.

Coordinating counsel for the judgment creditors, Mr Tony Nnadi, told reporters in Lagos that at the commencement of GSM operations, Interstella was granted permission to provide some services to the various network providers.

Nnadi said along the way, the company was stopped from continuing with the provision of the services.

The lawyer claimed that the Nigerian Telecommunications Plc (NITEL) could not give reasons for the development other than that it was acting on “orders from above”, despite not breaching any of the agreement terms.

He said Interstella contested the development at the High Court, following which the then Minister for Communications, Chief Cornelius Adebayo, set up an inter-ministerial committee to look into the matter.

Nnadi said the matter went through arbitration during which an agreement was reached on what should be paid to Interstella, which he said later became a consent judgment of the High Court.

The lawyer explained that despite making a concession of 50 per cent to the government, the Federal Government and CBN did not obey the consent judgment.