A Federal High Court in Abuja has scheduled March 19, 2025, to hear a legal dispute over the ownership and control of Emerging Markets Telecommunication Services (EMTS), the operator of 9mobile.

The case was filed by Abubakar Isa Funtua against retired General Theophilus Yakubu Danjuma and his company, LH Telecommunication Limited, along with several other defendants, over alleged violations regarding the ownership structure of EMTS.

Other defendants in the suit include Seltrix Limited, the Corporate Affairs Commission (CAC), the Nigerian Communications Commission (NCC), Hayatu Hassan Hadeija, Teleology Nigeria Limited, and Mohammed Edewor, a director in Teleology Nigeria Limited.

Plaintiff’s Claims

In his statement of claim, Funtua seeks several declarations, including:

• That he is the beneficial owner of 43 million ordinary shares held in trust for him by Seltrix Limited in Teleology Nigeria Limited.
• That the transfer or surrender of these shares to Teleology Nigeria Limited was a breach of trust by Seltrix Limited and violated Clause 48 of its Memorandum and Articles of Association.
• That the registration of the 43 million shares by way of surrender or gift to Teleology Nigeria Limited is null and void.
• An order nullifying the Corporate Affairs Commission’s registration of the increase in share capital and the allotment of 1.91 billion newly created shares of Emerging Markets Telecommunication Services Limited, citing violations of Section 127 of the Companies and Allied Matters Act, 2020.

Demand for Compensation

Funtua is also demanding ₦100 billion in general damages from the defendants, jointly and severally, among other reliefs.

The case is expected to shed light on the controversial ownership structure of 9mobile, one of Nigeria’s major telecommunications providers.

Culled from Daily Trust