Tag: The

  • Court dismisses suit challenging 9mobile’s sale

    The Federal High Court in Lagos on Wednesday dismissed a suit by Spectrum Wireless Communications Limited against Emerging Markets Telecommunications Services (EMTS), owners of 9mobile.

    The plaintiff challenged the sale of Etisalat (which was renamed 9mobile).

    Justice Chukwujekwu Aneke, in a ruling on EMTS’ preliminary objection, held that the plaintiff lacked the locus standi to file the suit numbered FHC/L/CS/153/2018.

    He held that there was no direct shareholding relationship between Spectrum Wireless and EMTS to vest on Spectrum the right to sue EMTS to protect its alleged shareholding.

    The court also upheld the defendant’s position that Spectrum is not a shareholder in EMTS and cannot be directly affected by the actions of its shareholders – Mubadala Holdings Cyprus Ltd, Myacynth Coperative UA and Etisalat International Nigeria Ltd.

    The court further upheld the defendant’s argument that if at all Spectrum has a right of action, it should be against Premium Telecommunications Holdings NV (PTHNV), the company it originally invested in, and not EMTS.

    Justice Aneke, therefore, upheld the submission of counsel to EMTS that not being a shareholder of EMTS, Spectrum lacked the locus standi (legal right) to bring the suit against EMTS on the basis of any decision taken by EMTS’ shareholders.

    The judge added that the concept of “indirect shareholding/economic interest” claimed by Spectrum is unknown to Nigerian law, which only recognises members of a company as those named in its Register of Members.

    Read Also: Court nullifies sale of 9mobile to Teleology

    Justice Aneke also held that Spectrum is not a party to the credit facilities, which it claimed were unlawfully obtained, adding that it is elementary law that only parties to a contract can make judicial claims in respect thereof.

    The court, therefore, dismissed the suit in its entirety.

    Spectrum Wireless Communications had sued EMTS and 16 others, including United Capital Trustees Limited (the lenders), the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) over the sale of 9mobile.

    The company had claimed that it acquired indirect holding of 30 per cent of EMTS’ shares after a private placement and was allotted 4,041,096 Class A shares of PTHNV, which owns 99 per cent of the shares in MyaCynth.

    The plaintiff also claimed that MyaCynth holds 30 per cent of EMTS BV’s shares; that EMTS BV holds 99.9 per cent of EMTS’ shares, and that EMTS’ syndicated loan from the second to fourth defendants was granted without the requisite statutory approval of CBN.

    Spectrum Wireless Communications also claimed that its investments in EMTS would be lost if the 15th to 17th defendants were allowed to effect EMTS’ sale.

    However, Justice Aneke dismissed the claims and upheld EMTS’ preliminary objection.

  • The torn veil (1)

    The first day I took my fiancé, Denis home to meet my parents, was supposed to be a happy occasion for the family. My parents had known about my relationship with him for sometime and had always wanted me to bring him home. But I had delayed their meeting him until I was really sure he was the right man for me.

    A few months ago, I finally took Dennis to meet them. As things turned out, it was one meeting that should never have taken place. Why? You might ask. Well, read my story and you will get the answer.

    ***

    Meeting Dennis

    I first met my fiancé at work. In fact, he was my supervisor and boss at the company I worked with when I newly joined. Initially, I was wary about him because of my experience with my former boss at the last place I worked. That man gave me a tough time all because I turned down his advances to date him. And this was a man that was married with seven children!

    Anyway, I should not have worried about Dennis. He treated me fairly, more like a younger sister than a boss. He was always giving advice both on the job and even in personal matters too like relationships. Maybe because I was the new girl in the office, a lot of the guys there wanted to date me. They kept pestering me for dates and would not give up even when I had no interest in them.

    “Don’t take them too seriously, Meg. That’s what they do whenever a new female staff comes. Especially a pretty one like you,” my boss advised me one day after observing one of my co-workers, a notorious womaniser giving me his ‘manifesto.’

    With time, I got to know more about my ‘oga’. Though of mature age, he was about 35, he was not married and seemed to have no fiancé. It was a colleague of mine who told me his story one afternoon during our lunch break.

    “He was engaged to be married about three years ago. But unfortunately, his fiancé died before the wedding,” Esther, my colleague revealed.

    “What happened?” I asked with interest.

    “Well, I heard she was sick. They said she had cancer, something to do with her blood or so,” she added.

    “What a pity,” I said shaking my head. I felt sorry for my boss for losing his woman so young.

    “Yes. He must have really loved her for since then, he has never been close to any woman again, whether in the office or outside,” she noted.

    She could be right. In the one year or so that I had known my boss, I had never seen any female visitor coming to see him at work.

    Sometime later, my boss was transferred to another department of the company. And that was when our relationship changed. From being just my boss, we became friends and grew closer than we were before.

    He started inviting me out for drinks and even took me out to dinner. It was while we were eating that he made a confession to me. He told me how he had been attracted to me while we were working together but could not do much about it back then.

    “Why?” I asked, feeling curiously thrilled at his words. The truth was that, I had had feelings for him for sometime too but had kept mum about the way I felt.

    He took a sip of water before he said:

    “I didn’t want anything to affect our working relationship. But you are no longer under me now. So…”

    From that day, we grew closer. With time, he took me to his home and I met some of his relations. Dennis and I were very compatible, despite the eight year age gap between us. We seemed to like the same things and had the same goals and dreams about life. As our relationship blossomed, I fell more deeply in love with him. He was my ideal man and in him I saw the man I wanted to be with always.

    He seemed to feel the same way too. About seven months after our relationship started, Dennis proposed to me. That day, we had gone to the cinema to watch a movie. It was on the way back that he stopped the car and asked me to marry him. I was so happy that I had flung my arms around him and said a loud, ‘Yes!’

    Before then, Dennis had been asking to meet my parents, to get to know my family members. But I had always told him to be patient, that when the time was right, he would get to meet them.

    A few days after we got engaged, I told my mum that I would be bringing him home.

    “Really? That’s good. I can’t wait to see the young man that has made my daughter look so happy!” she enthused.

    “Ah! Mum! I always look happy!” I stated.

    “But not like this. There’s a glow about you that was not there before. You must really love him,” she said.

    I nodded.

    “A lot, Mum. I can’t imagine what my life will be without him,” I said.

    “He must be really special. What does he look like? Is he handsome?” and she began bombarding me with questions about my fiancé.

    “Ah! Mum! Take it easy! You will get to meet him soon so don’t be so anxious!” I stated laughing.

    My Mum and I were very close. Maybe because I am the first child and only girl out of four children. Sometimes we were more like sisters than mother and daughter. Often, when we went out together, people often mistook us for siblings. We looked so much alike and my mum looked so young for her age. You see, she married quite early and had me when she was still very young, as a teenager in fact.

    I loved her so much and because of our closeness, there was nothing I didn’t tell her including details about my love life.

    The weekend that Dennis was to visit, was spent by my mum and I cooking and cleaning our home.

    “I want him to know he’s getting a wife who can cook, that he’s not getting a Mr Biggs wife!” she remarked as she stirred a sizzling pot of soup with an enticing aroma that pervaded the whole house.

    I laughed, full of joy and anticipation at the meeting of my beloved with my family…

     

    To be continued

     

    What happened when Dennis met Meg’s parents? Keep a date with us next Saturday!

     

    Names have been changed to protect the identities of the narrator and other individuals in the story.

     

    Send comments/suggestions to  psaduwa@yahoo.com or psaduwa007@gmail.com

  • Sweat shirts for the season

    Sweat shirts for the season

    This cold weather, one needs a sweat shirt. It helps to keep the body warm and protect it from illnesses. 

    The demand for sweat shirts has increased, during this rainy season. Wearing one over your cloth will protect it from getting dirty during your journey to the office, especially on a rainy day. It covers the pores of the skin and provides warmth.

    The sweat shirts are sold in boutiques and markets around you. There are various colours and sizes depending on your preference. If you have a good maintenance culture, you can go for the bright ones, but if it is the other way round, it is advisable to go for the dark ones – brown or black.

    Just like shopping for normal outfits, there are various ranges: the new and the fairly used ones. Even though the new ones are most advisable, no one will tell you to spend outside your budget, since the fairly used ones are cheaper. Pick your choice.

    The interesting thing about shopping is having a commodity, which will serve you better when compared to the money you have actually paid to have it. It is quite cheap, depending on where you are purchasing it.

    But when purchasing the fairly used ones, you should first give it a good look before paying for it, to avoid problems associated with fairly used clothes. You should ensure you reach a good bargain also.

    The price is not certain. But the area you are purchasing it is a determinant. In areas on the Island, their prices are known to be expensive than other places. But ensure you purchase the best of its kind.

    It may surprise you to know the sweat shirt produces heat on its own to keep the body warm.

    Even after getting it off, the body still feels warm for a short period before adjusting to the normal weather of the environment. Therefore, one can say that the sweat shirt has an after effect.

  • The attractions for Ghanaian universities

    The attractions for Ghanaian universities

    The Chairman, Committee of Pro-Chancellors of Nigerian Universities, Dr Wale Babalakin recently disclosed that no fewer than 75,000 Nigerian students are currently studying in three Ghanaian universities incurring a total of N160billion expenditure annually.

    In this report, The Nation Online reports on why Nigerian students are trooping to Ghana for university education.

    LACK OF ADMISSION OPPORTUNITIES IN NIGERIA

    With the large number of qualified students who are unable to get university admission in Nigeria, Ghanaian universities and others in neighbouring West African region have become major attractions. According to a Nigerian student studying in a Ghanaian university, “it not that Nigerians prefer Ghanaian universities… it’s just that to gain admission into Ghanaian universities is relatively easier than our universities in Nigeria. Trying to get admission in Nigeria is like gambling which is not the case in Ghana. If you are qualified and you can pay for it you will get admission”.

    In acknowledgement of the increasing number of Nigerians seeking admission in Ghana, President Goodluck Jonathan during a visit to the country said “despite the number of federal, states’ and private universities in Nigeria, yet we do not have enough. So if Ghana can provide solid education for our people and other African countries they should do it.”

    UNINTERRUPTED ACADEMIC CALENDAR

    Regular disruption of academic calendar due to frequent strikes by both academic and non-academic staff of Nigerian Universities has necessitated students spending more years than expected for various courses. In Ghana, it is reported that there is hardly cases of strikes in Universities making it possible for students to graduate on schedule. The academic session is said to be stable and predictable.

    BETTER PERCEPTION OF GHANA’S EDUCATION SYSTEM

    Despite having more universities with acclaimed academicians and professionals home and in abroad, the Ghanaian educational system is still perceived to be better than that of Nigeria globally. The rising image of Ghana as a stable democracy has obviously rubbed off on the rating of its educational institutions whose certificates are said to be well respected in globally. For some Nigeria, studying in Ghana is like studying abroad and getting an international certificate which can enhance their chances in for post graduate studies and job search.

    Nigerian students interviewed were divided on the question of the standard offered by Ghanaian universities compared with that of Nigeria. Some said the standard is the same while others noted the Ghanaian lecturers are more thorough in their teaching and the curriculum is more diverse.

    COST IS NOT A FACTOR

    Except for a few top range private universities in Nigeria, it is comparatively more expensive to study in Ghana. The average tuition fee for private universities in Ghana attended by majority of the Nigerian students in the country is put at about $2500, while international students pay much higher in public universities. Many parents are ready to pay the high cost as long as their children can get the admission and quality education.