Follow Us on Google
From Scholastica Hir, Makurdi
The Investment and Securities Tribunal (IST) in Abuja has ordered Benue Investment and Property Company (BIPC) Limited and another plaintiff to refile their suit against the Securities and Exchange Commission (SEC), Dangote Industries Limited, and five others.
On April 14, IST Chairman Amos Azi instructed the plaintiffs to regularise court processes after their counsel, Joseph Henkyaa, withdrew a motion to amend and refile due to outdated legal entities from the 2006 settlement.
Other News
BIPC accuses Dangote Industries of breaching a 2006 out-of-court agreement, supervised by SEC, which led to the case being struck out on March 30, 2006.
The plaintiffs seek 111,438,493 shares and ₦65.871 billion in accrued dividends as of 1 August 2024, citing partial performance, including a ₦86.42 million banker’s cheque.
Azi directed all parties be served and adjourned the case to May 12 for hearing.
