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8/9/2019 AP Plc vs. Aliko Dangote - Court Rulings March 12, 2010
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The Court Judgments:AP Plc Shareholders vs. Alh. Aliko Dangote
In the matter of Share Price Manipulation (2009 to date)
July 29, 2010: Granted leave to sue, Interim Injunction Restraining defendants from holdingelection until the determination of the Motion on Notice for orders, inter alia, of interlocutoryinjunction filed in the suit.
March 12, 2010: order nullifying, vacating and setting aside all steps taken but not limited tothe entire purported election held on the 6th day of August 2009 during the pendency of this suitand in disregard of the positive order of this court made on 4th August 2009.
Highlight:
The conduct of all officials of the Nigerian Stock Exchange (NSE) and the Securities andExchange Commission (SEC) who organised and/or participated in the purported election ofthe 11th respondent, Alhaji Aliko Dangote is reprehensible and highly condemnable. Theyperhaps look at the court and think that it can only bark but cannot bite. This court willmake them to see that our teeths are not only sharp; they can be poisonous when theychose to bite.
The court will not allow them to treat the court orders as useless by refusing to obey themlest anarchy may set in and in a developing country like ours where people particularly the
illiterates are literally itching to tale law into their hands, we will lapse into the dark agesand become once again the dark country which we were recently portrayed by the civilizedcommittee of nations.
The government should also look inward for a way to sanction, domestically, anygovernment functionaries found in disobedience of courts order. This is the only way the
big boys and those claiming to be close to power and who are laws unto themselves canbe checkmated so that the genuine desire of the present administration to enthrone trueand genuine democracy can be attained.
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