, is embroiled in a multi-million-dollar legal battle that has torn apart a once close family relationship. The legal tussle is separate from the troubles he faces over the handling of his job.
Mr Omoile is demanding $36 million in damages for the losses he allegedly suffered as a result of the CBN governor's alleged breach of contract, fraudulent inducement, negligent representation and fraud in course of their business partnerships. Mr Emefiele, too, has complained to the court that it will be extraordinarily burdensome for him to defend himself in the US, where he does not reside.
Mr Omoile, on different occasions, helped the Emefieles to buy houses in his neighbourhood in Coppell, Texas. Mr Omoile recalled that he made several trips and several contacts on behalf of the partnership to Houston, the Caribbean, and Nigeria to meet with oil and gas executives. The business plan, according to Mr Omoile, included him taking mortgages in his name for the benefit of the joint venture.
In a letter dated 17 January 2022, Mr Emefiele's lawyer, Nitor Egbarin, denied the allegations raised in previous 'legal demand' letters which Mr Omoile's lawyer, Donald Kaiser Jr, sent directly to the CBN governor. "Your legal demand must be directed at John to provide you with his Zenith Bank accounts which he opened in Agbor and in Lagos. Proceeds from John's brokerage account are deposited into John's bank accounts in Lagos and in Agbor," the letter read in part.
He also recalled Mr Emefiele sent another $40,000 to Mr Omoile in 2009 for the purchase of a second real estate property on the plot next to the first property in Houston. The letter describes Mr Emefiele as"a wealthy banker" and former chief executive officer of"the largest bank in Nigeria and West Africa" who has been"a generous donor, benefactor and breadwinner" to Mr Omoile over the years.