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On Monday, the Court of Appeal dismissed an application filed by one Dr Charles Mekwunye to prevent the listing of shares of telecoms carrier MTN on the Nigerian Stock Exchange.
The Court awarded N300,000 costs against Dr Mekwunye (in favour of MTN), and held that the application was a gross abuse of the court process.
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Dr Mekwunye, through the case he filed, was trying to get through the back door what he knew he could not get openly, the Court determined.
The Court also decided that there was no relationship between MTN and the applicant and therefore it could not issue an injunction against the company.
