A Federal High Court sitting in Lagos has ordered Jimoh Ibrahim, who is a respondent in the case of share purchase agreement on the sale of Newswatch Communications Limited, to stop interfering in the control of the affairs of Newsatch Communications Limited.
The directors – Ray Ekpu, Yakubu Mohammed, Dan Agbese and Soji Akinrinade – had petitioned the court to set aside the share purchase agreement entered into by Newswatch Communications and Global Media Limited in May 2011.
While delivering his judgment, Justice Ibrahim Buba of the Federal High Court, Ikoyi ordered Jimoh Ibrahim to desist from further interfering in or assuming management of Newswatch Communications Limited.
“In calm reflections of the reliefs, the court has come to the inevitable conclusion that the petitioners have discharged the burden placed on them and have proved their case. The cases of the petitioners have merits. I hereby set an order of perpetual injunction restraining Jimoh Ibrahim, his agents, servants or privies, howsoever called, from further interfering in or assuming management and control of the 1st respondent company in any manner whatsoever,” Buba said.
Buba also directed Newswatch Communications to resume its operations under a new receiver/ manager to be appointed by the Court.
Reacting to the judgment, Ekpu described it as a victory for justice.
“This is a huge judgment; a victory for justice. We applaud the judgment because it is very incisive and very thorough,” Ekpu said.
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