The Federal High Court, Lagos, on Tuesday struck out the name of Prof. Ndi Okereke-Onyiuke, Director-General of the Nigerian Stock Exchange from the contempt charge filed by 11 African Petroleum shareholders.
The shareholders had filled a contempt charge against Aliko Dangote, Chairman Dangote group of companies, Okereke–Onyiuke and Mrs Josephine Igbinosun, Secretary to the Council of NSE.
They alleged that Dangote paraded himself as the NSE president despite an existing order of the court preventing him from doing so pending the determination of the substantive suit instituted by them.
Justice James Tsoho had on July 22 ordered the arrest of Dangote and the two others for contempt and fixed the hearing for July 27.
At the resumed hearing of the case, counsel to Okereke-Onyiuke and Igbinosun,Wole Olanipekun urged the court to strike out the names of his clients.
He argued that their names were not listed in the substantive suit and nobody would be at a disadvantage if their names were struck out.
Counsel to Dangote,Ricky Tarfa informed the court that his client was out of the country and so could not appear before it as ordered.
He further informed the court that he had filed a stay of proceedings in the matter at the Court of Appeal, Lagos Division.
The plaintiff's counsel, Onyebuchi Aniakor, told the court that he had no objections that the names of Okereke-Onyiuke and Igbinosun be struck out.
He, however, urged the court not to hear any application filed by Dangote because he was in contempt of the court.
Tsoho in his ruling held that since there was no objection from the plaintiffs that the names of Okereke-Onyiuke and Igbinosun be struck out, the names are hereby struck out.
On the issue of stay of proceedings, Tsoho said he was not comfortable in making any pronouncement since there was a similar application before the Court of Appeal.
Tsoho consequently adjourned the case to Oct. 20 for the hearing of Dangote’s application.
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