Ade Adesomoju, AbujaThe Federal High Court in Abuja has halted the plan to sell the telecommunication firm, Etisalat, now called 9mobile. The defendants sued in the suit are Karlington Telecommunications Ltd., Premium Telecommunications Holdings NV, First Bank of Nigeria Plc, Central Bank of Nigeria, Etisalat International Nigeria Ltd. (now 9mobile) and the Nigerian Communication Commission. In their main suit, the plaintiffs asked the court to, among others, declare that the planned sale of Etisalat to Smile.Com and Glo Network, without paying them the money with which they bought the shares, is unlawful. The plaintiffs equally prayed the court to award N1bn in general damages against the defendants and in their favour. The plaintiffs said they paid for the shares through the 1st and 2nd defendants’ First Bank accounts.

Source: Punch April 19, 2018 00:45 UTC