We’ll Fight Dangote Up to Supreme Court – AP Shareholders
- By Onyewuchi Ojinnaka
- Published March 15th, 2010
- News
- Unrated
AFRICAN Petroleum Shareholders said they are ready to fight Alhaji Aliko Dangote up to the Supreme Court. Reacting to the appeal filed by Dangote on Friday after he was sacked by a Federal High Court in Lagos, one of the shareholders who spoke to BusinessWorld said they are not perturbed by the appeal, stating that they are ready o pursue the case up to the Supreme Court until he is finally removed as president of the Nigerian Stock Exchange (NSE) and member of the council of the exchange.
But it is envisaged that the matter may drag for long thereby making it possible for Dangote to remain in office till the expiration of his term.
In a swift reaction to the nullification of his election as the president of NSE by a Federal High Court in Lagos, Dangote immediately filed notice of appeal as well as an application for stay of execution of the ruling of the court. Dissatisfied with the ruling, delivered last week by Justice Lambo Akanbi, counsel to Dangote, Fola Sowemimo said he is confident that justice will be served and he will be vindicated.
He said, “Tempting as it is to join issues and give the background to some of our concerns, the dignity of our profession requires that we follow a certain course of action. We will abide by that and as such a notice of appeal as well as application for stay of execution of the order has been filed.” No date has been fixed for the hearing of the appeal.
Dangote was elected on August 6, 2009 in total disregard of court order made on August 4 stopping the election from holding pending the determination of a pending suit challenging his candidacy.
Justice Akanbi who nullified the election, noted that the NSE and the Securities and Exchange Commission (SEC) acted in a dubious way to circumvent and render nugatory the true intention of the order of the court which initially ordered parties to maintain status quo.
But it is envisaged that the matter may drag for long thereby making it possible for Dangote to remain in office till the expiration of his term.
In a swift reaction to the nullification of his election as the president of NSE by a Federal High Court in Lagos, Dangote immediately filed notice of appeal as well as an application for stay of execution of the ruling of the court. Dissatisfied with the ruling, delivered last week by Justice Lambo Akanbi, counsel to Dangote, Fola Sowemimo said he is confident that justice will be served and he will be vindicated.
He said, “Tempting as it is to join issues and give the background to some of our concerns, the dignity of our profession requires that we follow a certain course of action. We will abide by that and as such a notice of appeal as well as application for stay of execution of the order has been filed.” No date has been fixed for the hearing of the appeal.
Dangote was elected on August 6, 2009 in total disregard of court order made on August 4 stopping the election from holding pending the determination of a pending suit challenging his candidacy.
Justice Akanbi who nullified the election, noted that the NSE and the Securities and Exchange Commission (SEC) acted in a dubious way to circumvent and render nugatory the true intention of the order of the court which initially ordered parties to maintain status quo.
