₦airaland Forum

A Federal High Court sitting in Abuja, will on March 19, 2025, hear an ongoing dispute over the ownership and control of Emerging Markets Telecommunication Service (EMTS) which is the holder and operator of 9mobile Telecommunication licence.

The plaintiff, Abubakar Isa Funtua had sued General Theophilus Yakubu Danjuma (Rtd) and his company LH Telecommunication Limited, as well as the other defendants over the ownership and control of Emerging Markets Telecommunications Limited trading under the name of 9mobile.

The other defendants are: Seltrix Limited (sued as the 1st Defendant); The Corporate Affairs Commission; Nigerian Communications Commission (NCC); Hayatu Hassan Hadeija; Teleology Nigerian Limited and one Mohammed Edewor, a Director in Teleology Nigeria Limited.

In his Statement of Claim, the plaintiff seeks amongst other reliefs: “A Declaration that he is the beneficial owner of the 43,000,000 (Forty-three Million) ordinary shares held in trust for him by the 1st Defendant (Seltrix Limited) in the capital of the 3rd Defendant (Teleology Nigeria Limited)”.

“A declaration that the acquisition of the 43,000,000 (Forty-three Million) ordinary shares purportedly transferred or surrendered to the 3rd Defendant (Teleology Nigeria Limited) in breach of the 1st Defendant’s (Seltrix Limited) duty as Trustee of the Plaintiff and in contravention of Clause 48 of the Memorandum and Articles of Association of the 1st Defendant (Seltrix Limited) is null, void and of no effect.”

“That the purported registration of the transfer by way of surrender/gift of Forty-three Million (43,000,000) ordinary shares held by 1st Defendant (Seltrix Limited) in the capital of the 3rd Defendant (Teleology Nigeria Limited) is unlawful, null and void.”

“An Order setting aside the purported registration by the 6th Defendant (Corporate Affairs Commission) of the increase in the share capital and the allotment of the newly created One Billion, Nine Hundred Ten Million (1,910,000,000) ordinary shares of the 5th Defendant (Emerging Markets Telecommunications Services Limited) in contravention of Section 127 of the Companies and Allied Matters Act, 2020.”

The plaintiff also seeks the sum of N100 billion, as general damages from the defendants, jointly and severally, amongst other reliefs.

NwaAmaikpe:




Two things you should never hand over to a trusted ally to manage for you in your absence.
Your investments, (property, financial, business)

and

Your woman.

If an ally is good enough to manage those resources in your absence, then he is definitely smart enough to know he should retain it for himself by any means necessary.
Because if they weren't worth anything, you wouldn't have bothered to have them looked after in the first place.

Islie:
https://dailytrust.com/funtua-battles-t-y-danjuma-others-over-9mobile/

Islie:
https://dailytrust.com/funtua-battles-t-y-danjuma-others-over-9mobile/

cr7lomo:
TY wey b vegetable vegetarian now...h doesn't even know what's happening around him anymore... they are just using his name now that he's still alive to run shows

christejames:





The only one imbued with some erratic wisdoms

christejames:
People with little or no entrepreneural acumen jostling and bidding to take up a high grade communication firm which they have successfully runned aground. They don't care about how to improve the services from that firm but rather who will own the largest portion of meat from the firm?



It's obvious they can't handle they company and should forfeit it to a more reputable and successful entrepreneur either local or foreign.


I can still remember how Airtel from being mismanaged from econet to Zain etc until a reputable Indian firm came forward and gave them life.

yang:
where did Isa Funtua get money to buy 9mobile

These are all the criminals Buhari sold Nigeria to

Those shares are proceeds of corruption and must be returned to state coffers

where is EFCC, sleeping on duty as usual

zoo republic

PHOTOSPEAK Of The Cabal and The Central Governor: This photo of Nigeria's Central Bank Governor, Godwin Emefiele and a member of the Buhari cabal, Ismaila Funtua is not new, it was taken in 2015 during president @mbuhari's official visit to Washington DC, but with recent revelations from the wife of the President exposing the modus operandi of a deadly cabal around the President, the photo has received a new life.

Bone147:
The evil TY Danjuma. Evil man

christejames:





The only one imbued with some erratic wisdoms