John Smith
Fri, Aug 11, 2023 10:50 PMAbuja Market Management Limited Appeals for Peace and Adherence to Court Orders
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The Abuja Market Management Limited (AMML) is calling on the incoming Minister of the FCT to ensure that key stakeholders adhere to court orders and maintain peace in the markets and FCT. AMML has been embroiled in a long-standing dispute involving the redeployment of its Managing Director and the reconstitution of its Board of Directors. Despite court rulings in favor of AMML, some stakeholders have continued to defy the law and impede the smooth operation of the company. AMML is urging the relevant authorities to intervene and restore peace in the FCT markets.
The Abuja Market Management Limited (AMML) is appealing to the incoming Minister of the Federal Capital Territory (FCT) to direct key stakeholders to obey court orders and ensure peace in the markets and FCT. The appeal comes amidst a long-standing dispute that arose three years ago when the substantive Managing Director of AMML, Alh. Abubakar Usman Farouk, was unilaterally redeployed by the immediate past Minister of the FCT without following due legal procedures.
Barrister Kunle Kolawole, the Legal Consultant to AMML, highlighted that the redeployment of Alh. Farouk violated relevant laws and was void. Despite this, the former Minister of the FCT also unilaterally reconstituted the board of directors of AMML, disregarding the corporate governance procedures laid down by the Companies and Allied Matters Act (CAMA) and other statutory instruments.
Kolawole emphasized that AMML is a registered company with full legal rights and obligations, operating according to corporate governance procedures as enshrined in CAMA, 2020. He further noted that the appointment and removal of the Managing Director/CEO of AMML should only be done at the general meeting of the shareholders or by the properly constituted Board of Directors.
Despite efforts to settle the matter amicably, including legal action by Alh. Farouk, there have been ongoing actions by certain stakeholders to frustrate AMML and its Managing Director. In response, AMML has chosen to abide by court judgments and orders, refusing to engage in uncivilized acts or physical confrontations.
The Federal High Court and National Industrial Court have both ruled in favor of Alh. Farouk and affirmed his position as the bonafide/substantive managing director of AMML. However, the Abuja Investment and Property Development Company Limited (AICL) and the FCT Administration have continued to disregard these court orders and engage in illegal actions.
AMML has highlighted several unlawful actions taken by AICL and FCTA, including the holding of a General Meeting without the presence of any members, the publication of a termination letter despite a valid court order restraining them, and the freezing of AMML's bank accounts. These actions have disrupted AMML's operations and subjected the company to a defamatory media campaign.
AMML is now calling on the incoming Minister of the FCT, as well as the National Assembly, the Inspector General of Police, and the Presidency to intervene and ensure that AICL, FCTA, and Mr. Sadiq Abubakar Maina comply with court orders. It emphasizes that it is a law-abiding corporate citizen and will continue to pursue legal recourse until justice is served.
In conclusion, AMML appeals to its members to remain law-abiding and assures them that the rule of law will prevail. The company expresses gratitude to the Arewa traders association and other well-meaning Nigerians for their support and solidarity. It remains committed to achieving a peaceful resolution and restoring tranquility in the markets and FCT.
Source of content: OOO News 2023-08-11 News
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