By Chimezie Godfrey
The Abuja Market Management Limited (AMML), has appealed to the incoming Minister of the FCT to direct affected key stakeholders to obey court order to ensure peace in the markets and FCT.
Addressing journalists at a press conference Friday in Abuja, the Legal Consultant to AMML, Barr. Kunle Kolawole recalled that crises sprung up 3 years back when the substantive Managing Director of AMML, Alh. Abubakar Usman Farouk was unilaterally redeployed by the immediate past Minister of the FCT without any reference to and guidance by the guiding laws of corporate governance.
Kolawole disclosed that the same former Minister of the FCT, also unilaterally reconstituted the board of directors of AMML, bringing in Mr. Abubakar Saidiq Maina as the Chairman board of directors and others as directors, claiming that this was equally done without following due procedure as laid down by CAMA and other statutory instruments in that regards
According to him, the redeployment exercise was against the relevant laws and void, which much is known to the players of the redeployment, pointing out that Alh. Farouk was never assigned any alternative portfolio throughout the almost three years of the purported redeployment and that he earned his salaries as well as other entitlements as the sitting Managing Director of the AMML
Kolawole reaffirmed that AMML was established by way of incorporation as a separate legal entity with full legal rights and obligations and guided by corporate governance procedures as enshrined in CAMA, 2020 as amended, with Abuja Investment and Property Development Company Limited (AIPDC) as the majority shareholder in the company.
He also stressed that AMML as a registered company, the appointment of its membership of the Board of Directors and their removal is regulated by CAMA principally among any other ancillary corporate governance rules.
He pointed out that the position of the Managing Director, Chief Executive Officer (MD/CEO) of the AMML is well defined and regulated under CAMA, adding that the appointment, suspension and removal of the M.D/CEO of AMML can only be done at the general meeting of the shareholders of AMML or in certain circumstances, by the Board of Directors, properly constituted in accordance with law and in a sitting for that purpose.
Kolawole noted that after spirited efforts to have the matter settled amicably with the immediate past Minister of FCT, Alh. Farouk approached two different courts of the Federal Republic of Nigeria, and the National Industrial Court for the determination of his position, which did not go down well with the powers that be in the FCT, specifically by some staff of the FCT administration and the AICL, who viewed the court action as a challenge to their powers and authorities.
He said consequently, the aforementioned stakeholders started throwing stones at the MD/CEO of AMML who has decided to abide by the judgements of the courts of law.
He decried the fact that they have done many things and are still doing everything possible, to frustrate the M.D/CEO of AMML, and AMML itself.
In consideration of the foregoing, Kolawole called on the incoming Minister of the FCT, the National Assembly, the IGP and the Presidency to direct Mr. Sadiq Abubakar Maina, FCTA and AICL, to obey court orders and allow peace and tranquility in the markets and FCT.
He said,”From the foregoing, it is clear, that we are faced with a set of people, who seem to be above the law, and are not willing to be law-abiding. AMML is a law-abiding corporate citizen of the Federal Republic of Nigeria, we have chosen to abide by law as represented in court judgments and orders. This is why we have refused to join the AICL and its M.D Abubakar Sadiq Maina, to engaging in the rule of might, rather than the rule of law, we have refused to be dragged into uncivilized acts of physical confrontations with AICL, FCTA and Mr.Sadiq AbubakarMaina himself, as they would want us to, as these are not only against AMML but also against everything it represents. We have engaged the necessary machineries of the law, and we will follow through with it to logical conclusions.
“Let’s quickly point out that the above mentioned and their associates are currently violating the orders/judgments of court.
“We call on members of AMML, to continue to be law-abiding, as there will certainly be light at the end of the tunnel, and the rule of law will certainly prevail against the rule of might.
“Also, we want to use this opportunity to appreciate the National President and leadership of the Arewa traders association and other well meaning Nigerians for their unalloyed support and solidarity visits. We thank you all for so far, cooperating with the management of AMML through this trying time, we continue to solicit for your cooperation, until we win this duel together.
“Finally, we humbly Appeal to the Incoming Minister of FCT, The National Assembly, the IGP and The Presidency to direct Mr. Sadiq Abubakar Maina, FCTA and Aicl, to simply obey court orders and allow peace and tranquility in our markets and FCT.”
Earlier Kolawole pointed out that the Federal High Court, Abuja Division, Hon. Justice D.U. Okorowo delivered its judgment on the 10th July, 2023, affirming the position of Alh. Abubakar Usman Faruk as the bonafide/substantive managing director of AMML.
According to him, by the same judgment, the Board of Directors of AMML, reconstituted by the Minister of FCT under the chairmanship of Mr. Abubakar Sadiq Maina was nullified and set aside as illegally and unlawfully reconstituted.
“It is worthy of note, that this judgment has not been set aside by any competent court of law, neither is there any order for stay of execution of the judgment by any court of competent jurisdiction till date.
“Besides the above, on 26th July, 2023, the National Industrial Court entered another judgment, in the suit of Alh. Abubakar Usman Faruk vs. Minister of the Federal Capital Territory, Federal Capital Territory Administration, AMML and AICL with suit No. NICN/ABJ/62/2023, based on the terms of settlement adopted by Alh. Abubakar Usman Faruk and AMML, by which the position of Alh. Abubakar Usman Faruk as the managing director of AMML was further confirmed,” he said.
He noted that the AICL and FCTA have perpetrated illegal actions in disobedience to the court rulings, hence the call for the intervention of relevant stakeholders to restore peace in the FCT markets.
He stressed that some actions of Abubakar Maina such as constituting himself and his company secretary as the board of AICL despite a clear Presidential order dissolving the said board.
He said,”For instance, the AICL and FCTA have among many other illegal actions perpetrated against the AMML and its M.D/CEO, done the following without any caution as to the damaging consequences of these negative actions.
“They held, albeit unlawfully a General Meeting allegedly of the Members of AMML on the 17th of July 2023, where a supposed decision to terminate the appointment of Alh. Abubakar Usman Faruk was allegedly taken, even though none of the members on record was at the meeting.
“The publication of the said purported termination letter in national dailies despite a valid and subsisting court order of the National Industrial Court, restraining them from doing so.
“The managing director of AICL writing to bankers of AMML to PND/Freeze the AMML accounts with the aim of crippling her operations and among other things make it difficult for AMML to fulfill her operations and fulfilling her tax obligations to government.
“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.
“AICL creating a parallel Company using some former staff of both AICL and AMML to disrupt the organizational management of AMML and her operations.
“Violating court Orders/Judgments to wit: A judgement of the Federal High Court dated the 10th of July, 2023.
“b. Judgement of the National Industrial Court dated the 20thJuly, 2023.
“c. An Order of court voiding the purported termination of MD’S employment dated 26thJuly, 2023. And
“d. An Order for status quo to be maintained dated the 10th August 2023.”
The AMML Legal Adviser, Mr Felix Edache, said President Tinubu, in a letter dated June 27, directed the dissolution of the boards of Federal Government parastatals, agencies, institutions and government-owned companies.
Edache alleged that despite the directive, Maina continued to sign AMML board resolution, even against court order.
“We humbly appeal to the incoming minister of FCT, the National Assembly, the IGP and the Presidency to direct Mr. Sadiq Abubakar Maina, FCTA (Federal Capital Territory Administration) and AICL to simply obey court orders and allow peace and tranquility in our markets and FCT,” he said.
