Finally, Jimoh Ibrahim loses Newswatch

By admin on 21/10/2014

Share on facebook Yahoo mail icon Gmail icon

Views: 1,483


The present owner of National Mirror newspapers, Jimoh Ibrahim, a business mogul, has finally lost the ownership of Daily Newswatch and Newswatch magazine through a Lagos High court ruling delivered today.

The court, presided by Judge Ibrahim Buba, declared that Jimoh could not lay claim to the twin publications because he did not pay for the shares of the publishing company.

Two external shareholders of the flagship Newspaper, Nuhu Aruwa, a businessman, and Professor Jibril Aminu, a former minister of petroleum, had approached the court to restrain Ibrahim from parading himself as the owner of Newswatch magazine and the Daily Newswach Newspaper. 

In the judgment, which lasted for one hour, the judge declared: “The argument that the 2nd petitioner (Jibril Aminu), did not testify is of no moment where cases are contended in pleadings.

“The issues for determination must flow from the pleadings; proliferation of issues by the 1st (Newswatch Communications Limited) to 4th(Newswatch Newspapers Limited) respondents is an attempt to take the court outside the issues raised by the pleadings.

“The court agrees with the petitioners that the onus lies on the respondents to prove they have paid for their shares.

“Mr Oyesanya SAN, for the petitioners, has rightly submitted that the issue is whether parties have complied with the Shares Purchase Agreement or not.

“The 2nd (Global Media Mirror Limited) to 3rd (Jimoh Ibrahim) respondents had obligations to pay on or before completion date of the SPA (Shares Purchase Agreement) of 5th May 2011.

“The 1st to 4th respondents ran from the case as raised by the petitioners.

“It is common grounds that several meetings were held before the meeting of 5th May 2011, to bring in the 1st and 2nd respondents into the 3rd respondents.

 

Posted on October, 21 2014

Share on facebook Yahoo mail icon Gmail icon


You may also like...
Another Ambassadorial Nominee from Kastina State Turns Down...

UEFA European Championship Qualifying

Nigerian prosecutors to complement ICC

Unical alumni solidarity for Gov. Ikpeazu

BREAKING: Buhari attends Friday's Juma'at prayers

Why I refused to pay Obi –Gov. Obiano...

Rise Above Pettiness, Shehu fires back at Ezekwesili...

Pinnick, Keshi hold 'secret' talks

Disobeying court order is corruption – Emir

NBA Seeks Justice For Victims Of Herdsmen Attacks...

BREAKING: Osinbajo signs 2017 Budget into law

Joe Igbokwe warns Igbo business men
News Abia Election Special (3) Abia Supplementary Polls Update (18) Abia Supplementary Result update (22) Appointments (8) Breaking News (195) Business (40) Campus News (3) Crime (116) Economy (107) Education (121) Entertainment (144) Fashion and Style (3) General (797) Health (107) Inside Africa (40) International News (303) Interviews (28) National (1925) Politics (929) Press Releases (108) Religion (9) Security (127) Sports (431) Technology (24) World News (87)

 

 

Advertisement

 

Latest News Stop Using Sniper to Preserve Beans, Ogbeh Begs Traders Take a Cue from Buhari, Oshiomhole Tells Losers in APC Primaries Okorocha Replies Oshiomhole, Says APC Chairman is ‘Father of Nepotism’ EFCC Confirms Plan to Extradite Alison-Madueke JAMB to offer exceptional foreign nationals scholarships in 2019 Disobeying court order is corruption – Emir Executive asked us to cut MDAs’ budgets for 2019 elections – Senator 120 lawyers to defend suspected killers of Alkali I killed my mother, slept with her corpse for money ritual – Suspect We’re unaware of Oshiomhole’s grilling by DSS, says APC

 

Most Read Islamic agenda for Nigeria – Pastor Bosun (23,735 views) The show of shame that sealed Justice Uzokwe’s fate (17,480 views) 47 YEARS AFTER, HIS EXCELLENCY, COMMODORE EBITU UKIWE (Rtd) MAKES THE “OFO NDI IGBO” RECIPIENTS LIST (15,795 views) Breaking News : Dr Okezie Ikpeazu resigns from Abia State Environmental Sanitation Agency (ASEPA). (7,519 views) Lawyers accuse Lagos Police of working for PDP (7,234 views) Radio Biafra delivers AM Transmitter (7,015 views) ‘Why fuel scarcity persists’ (5,946 views) Nurse Justina Obi Ejelonu, one of the nurses that contracted Ebola virus is dead!!! (5,648 views) Abiriba Kingdom Celebrates as Eze Kalu Kalu Ogbu (IV) marks 14th year on the throne (5,546 views) 2015: Abia’s plethora of governorship aspirants (5,417 views)