By Innocent Anaba
LAGOS – The Court of Appeal, Lagos, yesterday, reserved judgment in the appeal by President of Dangote Group, Aliko Dangote challenging his sack as President of Nigerian Stock Exchange, NSE.
The appellate court also reserved judgment in another appeal by Dangote challenging the contempt proceedings initiated against him by some aggrieved shareholders of African Petroleum, AP, Plc.
The court reserved the judgment after parties argued and adopted their written addresses.
Justice Lambo Akanbi of the Federal High Court, Lagos, it will be recalled had on March 12, 2010 removed Dangote as NSE President on the ground that the election that brought him to office was conducted in violation of an order of the court.
The lower court's judgment was as a result of an application by AP shareholders, through their lawyer, Mr Onyebuchi Aniakor, who had challenged the legality of the election held after the court had on August 4, 2009 directed parties to maintain the status quo, pending the determination of some pending applications in the matter.
Nullifying Dangote's election, Justice Akanbi had said: "Like every other judicial official, I feel troubled and trembled each time I see any Chief Executive of government agency or establishment and their minors spurn and treat the order of the court with levity, leaving the impression that since the courts have neither the police nor guns nor the army to enforce whatever orders they make, they should treat such orders with impunity."
Vanguard Nigeria