A Federal High Court sitting in Abuja has struck out a legal suit filed against the telecommunications company, 9mobile, challenging the ownership of its shares.
The suit, which was instituted by Dr. Batel Apeloko and two others, challenged the sale of 9mobile and the ownership structure of the company’s shares. However, Justice Taiwo Oladipupo Taiwo struck out the case on grounds of lack of jurisdiction.
Summary of the Court’s Decision
- Parties Involved: The plaintiffs—Dr. Batel Apeloko, Mr. Sunny Ogboru, and Chief Mike Orugbo—had sued 9mobile, the Nigerian Communications Commission (NCC), and the Central Bank of Nigeria (CBN).
- Basis for Striking Out: Justice Taiwo ruled that the plaintiffs lacked the necessary locus standi (legal right) to institute the action. The court found that the plaintiffs were neither shareholders nor members of the company, and therefore, had no right to question the transfer or ownership of 9mobile’s shares.
- The Judge’s View: The judge held that the suit was a clear case of “abuse of court process” and was improperly instituted.
The striking out of the suit effectively affirms the current ownership status of 9mobile, which was acquired by Teleology Holdings Limited following a takeover process necessitated by the company’s previous debt troubles.
