From Godwin Tsa, Abuja
The Abuja Markets Management Limited (AMML) has appealed on President Bola Tinubu, the National Assembly and the Inspector-General of Police to quickly intervene in the illegal and contemptuous activities of the Abuja Investment Company Limited (AICL), which has the capacity of causing a breakdown of law and other in the existing markets in the Federal Capital Territory(FCT).
The recent action by AMML came on the heels of consistent disobedience of subsisting court orders by the management of the Abuja Investment Company Limited regarding the leadership crisis in the AMML which was resolved in favour of Abubakar Usman Faruk by competent courts of law.
The boardroom crisis in the AMML arose three years ago, when the immediate past Minister of the FCT, Mohammed Bello, unilaterally redeployed the substantive Managing Director, Abubakar Faruk from the company without any reference to and guidance by the guiding laws of coporate governance.
AMML had recently raised the alarm over looming insecurity and mayhem in the markets orchestrated by the illegal activities of the leadership of AICL.
In the ensuing litigation that followed the development, both the Federal High Court and the National Industrial Court had in separate suits filed by Abuja Markets Management Limited and Abubkar Faruk were all resolved in favour of Abubakar Faruk.
Justice Donatus Okorowo of the Abuja division of the Federal High Court had nullified the redeployment of Alhaji Abubakar Faruk as the Director, Abuja Markets Management Limited by the Board Chairman, Abubakar Maina, and the former Minister of the FCT, Mohammed Bello.
The Judge consequently, ordered Faruk reinstatement as the substantive Managing Director of AMML.
The above judgment was in respect of a suit marked FHC/ABJ/CS/499/2023 in the suit by Alhahi Abubakar Usman Faruk against Abuja Markets Management Limited; Abubakar Sadiq Maina (Board Chairman Abuja Markets Management Limited); Minister of the Federal Capital Territory and Federal Capital Administration.
In its July 26, 2023 judgment, Justice R.B. Haastrup of the National Industrial Court restrained the FCT Minister, Federal Capital Administration, Abuja Markets Management Limited and Abuja Investment Company Limited from giving effect to the purported letter of termination of employment issued against Abubakr Usman Faruk.
More recently, Justice Ahmed Mohammed of the Abuja division of the Federal High Court, on August 10, made an exparte order directing parties to maintain status quo ante bellum on the subject matter and adjourned furtger proceedings to August 16, 2023.
Parties listed in the above suit marked FHC/ABJ/CS/1035/2023 are Abuja Investment Limited; Federal Capital Territory Administration; Permanent Secretary, FCT; Mr. Abubakar Sadiq Maina; Engr. Mohammed Abbas Yakubu and Corporate Affairs Commission(CAC).
In all of the above court orders, the Legal Consultant to AMML, Kunle Kolawole told newsmen on Friday that the defendants have acted in disobedience by engaging in some illegal activities that endangers the safety and security of lives and properties in the markets.
Kolawole who was in company with some top officials of the AMML alleged that the defendants, specifically Abubakar Maina, has mobilized mobs to cause mayhem and breaking down of law and order in the affected markets.
The legal practitioner faulted the unlawful general meeting allegedly held by members of AMML on the 17th of July 2023, where a supposed decision to terminate the appointment of Alh. Abubakar Usman Faruk was taken.
Besides, Maina was further accused of conniving with banks officials to freeze the AMML accounts with the aim of crippling her operations which therefore make it difficult for AMML to fulfill its financial obligations.
Other are: “Defamatory media campaign against AMML and its M.D/CEO. Holding meetings with traders with a view of inciting them and actually incited them against AMML.
“Wrongful termination of Facilities management agreements between AICL and AMML. Forceful takeover of all AICL markets including but not limited to WUSE and other markets, under the lawful management of AMML.
AMML head of operations equally disclosed that over 13,000 illegal attachments (structures) have been constructed in the markets making the markets untidy and unhygienic for buying and selling.
He noted that the chassing away of its members from the markets by the Abuja Investment Company has further exposed the markets to the dangers posed by poor environment and insecurity.
On his part, the company Secretary and Legal Adviser, Felix Edache noted that AMML was a product of the Federal Executive Council (FEC) and therefore no single individual can legally take a critical decision to alter its management structure.
In addition, he drew the attention of relevant authorities to the fact that since President Bola Tinubu has dissolved all Boards of parastatals, the Board of directors of the Abuja Investment Company has no legal legs to stand and take decisions and issue directives on behalf of the company.
AMML therefore called on the Presidency, National Assembly, the Inspector General of Police to direct Mr. Sadiq Abubakar Maina, FCTA and AICL, to simply obey court orders and allow peace and tranquility in Abuja markets