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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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