Latest News
IBEDC Share Transfer Halted as Court Settles Ownership Disagreement
The dispute surrounding the ownership of Ibadan Electricity Distribution Company Limited (IBEDC) remains unresolved as the Federal High Court in Lagos has scheduled May 16, 2025, to hear a lawsuit filed by 86 Gardens Limited against Archlight Nigeria Limited and two other defendants. The case revolves around the alleged improper transfer of shares to another company.....KINDLY READ THE FULL STORY HERE▶
Ahead of the hearing, Justice Musa Kakaki granted an interim injunction to prevent Archlight Nigeria Limited or its agents from transferring the 50 percent equity shareholding in IBEDC that had been assigned to 86 Gardens Limited. The injunction will remain in place until the court hears and rules on the motion for an interlocutory injunction.
The motion was filed by Seni Adio (SAN) on behalf of 86 Gardens Limited. Justice Kakaki’s order mandates that Archlight Nigeria Limited, along with its agents, directors, and associated parties, are prohibited from transferring the equity shareholding to any third party, pending the final resolution of the case.
In the originating summons, 86 Gardens Limited seeks a ruling on whether Archlight Nigeria Limited breached the Share Sales Agreement of July 2024 and whether the Corporate Affairs Commission (CAC) should be compelled to register the share transfer forms. Additionally, the plaintiff accuses the second defendant of a conflict of interest in failing to register these documents. The plaintiff is also seeking specific performance, damages, and an injunction to prevent any further transfer of shares.
latest
Social Media Drama As Seun Kuti And VeryDarkMan Unfollow Each Other.
Popular Nigerian influencer VeryDarkMan and singer Seun Kuti have unfollowed each other on Instagram, a move that has sparked widespread speculation online.....KINDLY READ THE FULL STORY HERE▶
latest
Delta Community Demands Autopsy, Independent Probe Into Death Of Reps Speaker’s Aide.
The Ute Okpu Kingdom in Ika North East Local Government Area of Delta State has suspended the burial of late Dr Chamberlain Nnamdi Dunkwu pending the outcome of an independent autopsy to determine the actual cause of his death.....KINDLY READ THE FULL STORY HERE▶
latest
Troops Intercept Suspected Terrorist Logistics Supplier In Borno Operation.
Troops of Operation HADIN KAI have arrested a suspected Islamic State West Africa Province (ISWAP) and JAS logistics supplier in Borno State and intercepted a quantity of Premium Motor Spirit (PMS) allegedly concealed in a tricycle.....KINDLY READ THE FULL STORY HERE▶
-
latest8 months ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest2 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics2 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics2 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp
