Court orders funds to be preserved, fixes October 14 for hearing
The Federal High Court sitting in Makurdi, Benue State, has restrained the Central Bank of Nigeria (CBN) from releasing N4 billion earmarked as compensation for victims of the 2001 Zaki-Biam massacre.
Justice Joshua Raphael Egbe issued the interim injunction in Suit No. FHC/MKD/CS/123/2026, filed by Isaga Terkula and four others against the Federal Ministry of Finance and eight other defendants.
The court also ordered that the funds and related promissory notes be preserved pending the hearing of the plaintiffs’ motion on notice.
Counsel to the plaintiffs, Barrister Chris Alashi, told journalists in Makurdi that the application became necessary after, according to him, individuals who were not among the judgment creditors allegedly obtained promissory notes connected to the compensation.
The N4 billion tranche was reportedly scheduled for payment on October 9, 2026.
Alashi argued that releasing the money before the court determined the issues raised in the substantive application could affect the subject matter of the suit.
The plaintiffs had earlier secured a N41.8 billion judgment, which the Federal Government appealed before subsequently pursuing an out-of-court settlement, according to the lawyer.
After hearing the application moved by Dr D.O. Penda, Justice Egbe granted the interim order and directed that the subject matter be preserved pending the hearing of the motion on notice.
Specifically, the judge restrained the first and second defendants from approving or authorising the CBN to pay the holders or beneficiaries of five promissory notes valued at N4 billion.
The affected promissory notes include N1.7664 billion issued to RHEMALAW Partners; N933.6 million to Eze Nwa-Uwa; N400 million to The Anavo Institute Limited; N400 million to Chief J.K. Gadzama, SAN; and N500 million to Ocha P. Ulegede.
Justice Egbe further restrained the CBN from dematerialising, redeeming, assigning monetary value to or making payment on the promissory notes to the named beneficiaries, financial institutions or any other person who may have acquired an interest in them.
The order is to remain in force pending the hearing of the motion on notice.
Counsel to the seventh defendant, Barrister P.N. Joji, who held brief for Barrister Darlington Onyekwere, sought an adjournment to enable Chief J.K. Gadzama, SAN, respond to the court processes served on him.
There was no objection to the request.
Counsel to the CBN, Professor Chukwuemeka Anyogu, also informed the court that the bank had no difficulty complying with the order.
The matter was subsequently adjourned to October 14, 2026, for hearing of the motion on notice.
The Zaki-Biam litigation stems from the 2001 military operation in parts of Benue State, during which soldiers deployed to the area killed scores of people.
