A’Court reserves judgment in Dangote’s appeal
On April 26, 2012
BY Onozuro Dania

The Court of Appeal, Lagos, yesterday, reserved judgment in one of the appeals by Alhaji Aliko Dangote against the judgment of Justice Muhammed Liman of a Federal High Court, Lagos, in the suit by some aggrieved shareholders of African Petroleum Plc, over allegation that AP’s share prices were manipulated.

The lower court in 2009, had directed parties in the suit to maintain status quo, but while the matter was pending, the Nigerian Stock Exchange, NSE, conducted the election into the Council of NSE, where Dangote was elected on August 6.

The shareholders, who had brought the suit challenging Dangote’s sitting in NSE council consideration of their petition, against their alleged shares manipulation, had also sought to restrain Dangote’s election, which went on despite the court’s order.

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