A Federal High Court, Abuja has nullified the redeployment of Alhaji Abubakar Faruk as the Managing Director, Abuja Markets Management Ltd (AMML) by the Board Chairman, Abubakar Maina, and the former Minister of Federal Capital Territory (FCT), Mohammed Bello.
Justice Donatus Okorowo, in a judgment, ordered Faruk’s reinstatement as MD of AMML and that, the defendants, their staff and privies restrain themselves from interfering with the claimant’s exercise of his powers or carrying out the ordinary business of the company as an MD, including but not limited to holding board meetings.
The judge held that the decision of Maina and Bello to reconstitute the AMML’s Board of Directors in the manner done and publish in a press release of February 21 and inaugurated the said board on April 4 was unlawful, null and void.
He further held that the action of the duo contravened provisions of Sections 269(1) to (4), 273(1), 274(1) to (3) of the Companies and Allied Matters Act (CAMA), 2020; Articles 16, and 21 of AMML’s Memorandum and Articles of Association and all other enabling laws and instruments applicable in the circumstances of the case.
The judge made an order of perpetual injunction, restraining AMML and Maina, jointly and severally, whether in persons or through any other director, officer, or staff, from convening the board meeting “unless and until all necessary and valid statutory notice(s) has/have been served on all directors who are eligible and entitled to receive such notice(s) and attend the meetings, including the claimant herein.”
He also restrained the FCT minister and FCTA from interfering with the internal, business and corporate affairs of AMML howsoever and reconstituting its board of directors in a manner inconsistent with the laws and the Memorandum and Article of Association of the company.
It be recalled that Alhaji Faruk had, in a suit marked: FHC/ABJ/CS/499/23 filed by his lawyer, Faruk Khamagam, sued AMML, Abubakar Sadiq Maina, FCT Minister and FCT Administration (FCTA) as 1st to 4th defendants respectively.
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