Zaki-Biam Massacre: Court Stops CBN From Paying N4bn Promissory Notes

Zaki-Biam Massacre: Court Stops CBN From Paying N4bn Promissory Notes

The Federal High Court in Makurdi, Benue State, has ordered the Central Bank of Nigeria (CBN) to temporarily halt the payment of a ₦4 billion tranche of promissory notes connected to compensation arising from the 2001 Zaki-Biam massacre.

Justice Joshua Raphael Egbe issued the interim order on Wednesday, September 30, 2026, directing that the subject matter of the suit be preserved pending the hearing of a motion on notice filed by the plaintiffs.

The order followed an ex parte application in which the plaintiffs argued that the ₦4 billion promissory notes were scheduled to mature on October 9, 2026.

They told the court that allowing the payment to proceed before the issues in the substantive application were determined could undermine the case and lead to the dissipation of the subject matter of the suit.

Speaking with journalists after the proceedings, counsel to the plaintiffs, Barrister Chris Alashi, said the case was connected to the military operation carried out in Zaki-Biam and neighbouring communities in 2001.

According to him, victims of the operation subsequently commenced legal proceedings against the Federal Government, leading to an initial judgment of ₦41.8 billion.

Alashi said the Federal Government appealed the judgment but later entered into negotiations with the affected parties, resulting in an out-of-court settlement.

He explained that the settlement culminated in a consent judgment of ₦8 billion entered by the Court of Appeal.

However, he said the latest dispute centres on the issuance of promissory notes to facilitate payment of the agreed compensation.

The plaintiffs allege that some individuals who were not part of the original judgment creditors were issued promissory notes under the settlement arrangement.

Alashi said the first tranche, valued at ₦4 billion, was due for payment on October 9, prompting the plaintiffs to seek an urgent order from the court to preserve the funds pending the determination of their application.

After considering the application, Justice Egbe granted the reliefs sought and ordered the preservation of the subject matter pending the hearing of the motion on notice within 14 days.

Counsel to the seventh defendant, Barrister P.N. Joji, who appeared for Barrister Darlington Onyekwere, requested additional time to enable the defendant respond to the court processes served on it.

The defendants did not object to the interim order.

Counsel representing the CBN, Professor Chukwuemeka Anyogu, also said the apex bank would comply with the directive of the court.

Anyogu maintained that the CBN's responsibility in the matter was primarily to act in accordance with the law and implement lawful directives relating to the payment of promissory notes.

He said the bank would not proceed with the payment if the court had directed that it be withheld.

«“Central Bank has nothing to do with it. I'm counsel for Central Bank, and I don't think Central Bank would object to anything because Central Bank is an institution that would go by the law. All Central Bank will do is obey the law,” he said.»

The CBN counsel further stated that the bank had no reason to rush the payment while a court order was in force preventing the transaction.

The case was adjourned to October 14, 2026, for hearing of the motion on notice.

Background

The Zaki-Biam case stems from a military operation in parts of Benue State in October 2001, following the killing of 19 soldiers.

Victims and survivors of the operation subsequently sought legal redress and compensation from the Federal Government.

In 2007, a Federal High Court awarded ₦41.8 billion in damages. Following subsequent negotiations, the amount was reduced to ₦8 billion, which became the subject of a consent judgment.

The latest proceedings concern the implementation of that settlement and the beneficiaries of the promissory notes issued pursuant to it.

Source - Citizen Television/ Amos Aar