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Court Dismisses Suit On Sale Of 9mobile

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A Federal High Court sitting in Ikoyi, Lagos on Wednesday dismissed a suit filed by Spectrum Wireless Communications Limited against Emerging Markets Telecommunications Services (EMTS), owners of 9mobile, challenging the sale of the company.

The Court Presided over by Justice CJ Aneke in a ruling on the preliminary objections file by counsel to EMTSupheld the Defendant’s prayers in Suit No. FHC/L/CS/153/2018 that there is no direct shareholding relationship between Spectrum Wireless and EMTS, thereby vesting on Spectrum the right to sue EMTS to protect its alleged shareholding in EMTS.

The court also upheld the Defendant’s position that there isno privity of contract between EMTS and Spectrum asSpectrum is not a shareholder in EMTS and cannot be said to have been directly affected by the actions of its shareholders – Mubadala Holdings Cyprus Ltd, Myacynth and Etisalat International Nigeria Ltd.

The Court further upheld the Defendant’s position that if at all Spectrum has a right of action, its action should be against PTHNV, the company it originally invested in and not EMTS. The Court therefore upheld the submission of counsel to EMTS that not being a shareholder of EMTS, Spectrum lacks the locus standi to bring the suit against EMTS on the basis of any decision taken by the shareholders of EMTS.

The Court therefore upheld the Defendant’s prayers saying that Spectrum lacks the locus standito sue, adding that the concept of “indirect shareholding/economic interest” claimed by Spectrum is unknown to Nigerian law, which only recognizes members of a company as those named in its Register of Members.

Justice Aneke also held that Spectrum is not a party to the credit facilities which it claims were unlawfully obtained; and it is elementary law that only parties to a contract can make judicial claims in respect thereof.The Court therefore dismissed the suit in its entirety.

It would be recalled that Spectrum Wireless Communications had sued EMTS and 16 other defendants including United Capital Trustees Limited (‘the Lenders’), the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) over the sale of the telco.

The company had claimed that it acquired indirect holding of 30% of the shares of EMTS after a private placement and was allotted 4,041,096 Class A shares of Premium Telecommunications Holdings NV (“PTHNV”), which owns 99% of the shares in MyaCynthCoperative UA (“MyaCynth”).

The Plaintiff also claimed that MyaCynth holds 30% of the shares of EMTS BV; and EMTS BV holds 99.9% of the shares of EMTS) and that EMTS’ syndicated loan from the 2nd to 4th Defendants was granted without the requisite statutory approval of the CBN, and can, therefore, not be enforced through the sale of EMTS’ shares and assets by the 2nd to the 14th Defendants.

Spectrum also claimed that its investments in EMTS will be lost if the 15th to 17th Defendants are allowed to effect the sale of EMTS.

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PDP Would Be Destroyed If Peter Obi Returns To Party — Wike

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The Federal Capital Territory Minister, Nyesom Wike, has asserted that welcoming Peter Obi back into the People’s Democratic Party (PDP) would spell disaster for the party.

During a media session in Abuja, Wike noted that key PDP figures like Bauchi Governor Bala Mohammed and Senate Minority Leader Abba Moro have been engaged in discussions with both Obi and former President Goodluck Jonathan regarding a potential return to the party.

Obi officially left the PDP days before its 2023 presidential primary and later joined the Labour Party—a move that positioned him as its presidential candidate that year.

Wike said Obi’s character disqualified him from returning, citing past insults against the party: “Obi was abusing the party, saying it is rotten. So now the party is suddenly good enough for him to come and contest on its platform?”

He continued, criticizing the idea as incompatible with the party’s integrity: “That kind of ambition can make people even go to Satan’s house.”

Wike warned that the party stands to lose credibility and its guiding principles if Obi is welcomed back. “Anybody suggesting that Obi should return is entitled to their opinion. But if you want to destroy this party, then bring Obi back,” he declared.

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Politicians Pushing Jonathan To Contest In 2027 Betrayed Him In 2015 — Wike

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has urged former President Goodluck Jonathan against returning to the 2027 presidential race, saying he should continue to serve Nigeria as a respected statesman instead.

Speaking at a media briefing in Abuja, Wike noted persistent rumours that Jonathan might vie for the presidency again on the PDP platform, though the ex-president has not publicly addressed the speculation.

“I know Jonathan very well. He enjoys being respected internationally as a statesman and I believe he will continue in that role,” Wike remarked.

He sharply criticised those encouraging Jonathan’s return, arguing they are the very figures who undermined him during the 2015 election.

“People pushing Jonathan — what strength do they have? Were they not the same people who worked against him in 2015?” he queried.

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NRC MD Kayode Opeifa Apologises For Remarks Against Journalist During Train Derailment Coverage

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The Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has publicly apologized following his verbal outburst against NTA Transport Correspondent and former NAWOJ president, Comrade Ladi Bala, during the coverage of the Abuja–Kaduna train derailment.

Opeifa made the apology at a press briefing held on Sunday at the NUJ FCT Council Secretariat in Abuja. He explained that the incident occurred under intense pressure, as he was managing the emergency response.

“I sincerely apologize for the regrettable remarks I made, which were directed at a seasoned journalist and reflected poorly on both the NUJ FCT and NAWOJ,” he stated.

In an attempt to promote reconciliation, Opeifa awarded Comrade Bala the honorary title of Ambassador for Media Advocacy—a symbolic gesture of the NRC’s renewed commitment to press freedom and better media relations.

Speaking further about the derailment, Opeifa confirmed that eight coaches and one locomotive were involved, carrying 618 passengers, of whom approximately 20 were injured, including seven critically. Emergency protocols were swiftly activated, engaging agencies such as NEMA, NAN, the military, NISA, and state health ministries, to ensure a coordinated response.

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