pocohantas:
98.1251% of people that have commented and would comment, do not understand the news.

Neither do they know what is a Garnishee order absolute.

In simple terms- Garnishee order arises when a court instructs a third party (the bank) to pay a creditor a certain sum on behalf of the debtor. In this case, CBN is to pay a team of lawyers on behalf of FG (debtor).

GTB has a similar case with Innoson.

Failure to do so will attract consequences.

What I don't understand is why Emefiele would go to jail. What happened to entity concept?

Emefiele is different from CBN. It is just like Segun Agbaje going to jail for failure to pay Innoson a sum.

Abi, somebody epp me out.

Emefiele may end up in jail for contempt of court.
I haven't seen the court's earlier judgment but if Emefiele is a respondent along with the CBN,
then he is guilty of contempt.

Given that CBN is the highest bank in the land, the only way to make it comply is by committing its principal
to prison until the court orders are followed,

Ebenezar2020:
the last 3 letters of your Moniker says it all.
kid

Yeah I accept I am a kid, but you as an adult cannot read and understand.
Obviously you and 'Sai baba' have a lot in common, certainly comprehension is not one of them.

Nigerian leaders are legendary in stealing>>>>> yahooooooooo yahooooooo leaders

TRUSTEDGUY:
This is serious but leave more questions than answers wenti concern CBN and lawyers. Wenti dem do way worth 53m naira?

Dollars.

pocohantas:


I didn't say it held. I am asking if it doesn't hold, how it applies and its exceptions.

Two different things, Sir.

I'm sorry ma'am. I misinterpreted your statement

SmartyPants:

Dollars.

Noted

Point of correction..... $53M

royalads:
The comments on the first page shows the mental IQ of 98% of people that visit Nairaland of recent times. They didn't understand what the topic was about. They didn't bother to ask questions. But they went ahead to leave senseless comments all over the place.. Just 2 persons understood the discussion and replied accordingly. If it was one senseless discussion now, you see them bubbling all over the place.

@Pocohantas you go a new secret admirer right here.
My days here are seriously numbered.

My brother the matter tire me...I feel so ashamed reading comments on this topic

That position awaits a Fulani man. We understand the game

pocohantas:
98.1251% of people that have commented and would comment, do not understand the news.

Neither do they know what is a Garnishee order absolute.

In simple terms- Garnishee order arises when a court instructs a third party (the bank) to pay a creditor a certain sum on behalf of the debtor. In this case, CBN is to pay a team of lawyers on behalf of FG (debtor).

GTB has a similar case with Innoson.

Failure to do so will attract consequences.

What I don't understand is why Emefiele would go to jail. What happened to entity concept?

Emefiele is different from CBN. It is just like Segun Agbaje going to jail for failure to pay Innoson a sum.

Abi, somebody epp me out.

The company as a non living thing will not pay the money regardless the order, it is humans that will pay it.
Directors are liable