Judgment
ELFRIEDA OLUWAYEMISI WILLIAMS-DAWODU, J.C.A. (Delivering the Leading Judgment) : This is an appeal against the judgment of the Federal High Court, Abuja Division delivered by Hon. Justice F. O. G. Ogunbanjo on December 3rd 2020, wherein the Court dismissed the Suit No. FHC/ABJ/CS/516/2019 by the Appellant (the Plaintiff at the Court below) as an abuse of the process of the Court. The following are the questions for determination submitted and the reliefs sought by the Appellant at the Federal High Court, Abuja, from where the instant appeal emanated: 1.
Whether or not the 1st Defendant/Respondent can approve for listing the shares/stocks of the 2nd Defendant in the 3rd Respondent’s Exchange in view of the pending suit i.e. SUIT NO FHC/L/CS/354/15 at the Federal High Court, Lagos between Dr. CHARLES D. MEKWUNYE, the Applicant herein and 1. LOTUS CAPITAL LIMITED, 2. STANBIC IBTC ASSET MANAGEMENT LIMITED, 3. MTN NIGERIA COMMUNICATIONS LIMITED, 4. HIS HOLDING LIMITED, 5. INT TOWERS LIMITED and the pending appeals i.e. SC/502/2018 and SC/503/2018 at the Supreme Court, between DR. CHARLES D. MEKWUNYE VS.
LOTUS CAPITAL LIMITED & 4 ORS, wherein the relief, among others, sought before the Supreme Court is for “AN ORDER OF INJUNCTION restraining the 3rd Defendant (MTN NIGERIA COMMUNICATIONS LTD), its agents servants, privies, employees, licencees, and/or persons acting through and for the 3rd Defendant from listing its shares in the Nigeria Stock Exchange or any globally recognized Stock Exchange pending the final determination of the appeal filed and pending in the Supreme Court, and/or the conclusion of the trial at the Federal High Court if this Honourable Court so orders” WHEREOF THE APPLICANT PRAYS THIS HONOURABLE COURT AS FOLLOWS: 1.
A DECLARATION that the 1st Defendant/Respondent does not have the right to approve for listing in the 3rd Defendant the shares of the 2nd Defendant until the final determination of the pending suit and the appeals namely: SUIT NO FHC/L/CS/354/15, SC/502/2018 and SC/503/2018 between the Plaintiff/Applicant herein against the 2nd Defendant herein and others. 2.
A DECLARATION that the 3rd Defendant does not have the right to place for listing the shares/stocks of the 2nd Defendant in the Nigerian Stock Exchange until the final determination of the pending suits and appeals namely: SUIT NO FHC/L/CS/354/15, SC/502/2018 and SC/503/2018 between the Plaintiff/Applicant herein against the 2nd Defendant herein and others. 3.
