Home Business SEC Vs Oando: Court adjourns to July 22
Business

SEC Vs Oando: Court adjourns to July 22

Share
SEC Acting DG, Mary Uduk
Share

By Chioma Obinagwam

A Federal High Court sitting in Lagos has adjourned till fixed July 22 for the hearing of the substantive suit brought by two chief executive officers of Oando Plc, seeking enforcement of their rights.

The court also fixed July 4th to hear arguments on the motion for consolidation.

At the resumed hearing, Mr. Yele Delano (SAN) announced appearance for Oando and expressed the company’s intention to be joined in the suit as well as seeking a consolidation of similar suits, pending before the court.

Delano also sought an adjournment to enable him file his processes in the suit.

In response, counsel to SEC, Idigbe raised an objection to their request for joiner, on the grounds that it would pre-determine the respondent’s case.

He argued that the issue of application consolidation was intended to frustrate the case, thereby elongating the hearing of the case. He further argued that the party in question has not formally processed the application for consolidation, it was only a mere oral expression.

According to him, “My Lord, this matter was adjourned to today for hearing, and I am prepared to go on. The issue of consolidation of the cases is meant to accelerate the matter rather than taking it backward”.

He argued that if the court allows the joinder, it would have pre-determined the case of the defence and therefore urged the court to refuse the application.

On his part, counsel to the applicants, Mr. Tayo Oyetibo (SAN) argued in favour of the request for joining and urged the court to allow the party seeking to be joined in the suit.

According to him, if the court refuses the application for joinder, and the party goes on to appeal, then the applicant will be affected.

In a short consideration of the issues, the court held that it was far-reaching to think that the grant of an adjournment to enable a party file a motion, will be considered prejudicial to the defence.

On that note, Justice Ayokunle Faji adjourned the cased until July 4, to hear arguments on the motion for consolidation, and also fixed July 22, for hearing of the substantive suit.

Please follow and like us:
Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Start your career with NNPC Limited

Start your career with NNPC Limited
Start your career with NNPC Limited

Member

Don't Miss

Why Nigeria’s legislator, Senator Abaribe shut down National Assembly

By Chioma Obinagwam A drama ensued at the Nigerian National Assembly Friday, as Senator representing Abia South Senatorial district since 2007, Enyinnaya Abaribe,...

“US $5bn Mozambique Loan: We will learn geopolitics by force” says Hundeyin

By Chioma Obinagwam Renowned journalist, David Hundeyin, has reacted to the reapproval of the once halted loan for an LNG Project to Mozambique....

Related Articles

Why Nigeria’s legislator, Senator Abaribe shut down National Assembly

By Chioma Obinagwam A drama ensued at the Nigerian National Assembly Friday,...

How Transcorp Group notched 188% Profit After Tax in FY 2024

By Chioma Obinagwam Nigeria’s leading Conglomerate, Transcorp Corporation PLC, has said that...

IWD: NGX Group, CSCS, SEC others accelerate action for gender equality

By Chioma Obinagwam The Nigerian Exchange Group Plc (NGX Group), Central Securities...