Justice Binta Nyako of the Federal High Court in Abuja has nullified the sale of telecommunications firm, Etisalat International Nigeria Limited , to Teleology Nigeria Limited.
Delivering ruling on April 1 in the suit, Justice Nyako, who nullified the transaction, also voided all steps taken in relation to the exchange of ownership of Etisalat despite pending orders for parties to maintain the status quo in relation to the sale of the company. The defendants in the suit are: Karington Telecommunication Ltd, Premium Telecommunications Holdings NV, First Bank of Nigeria Plc, Central Bank of Nigeria, Etisalat International Nigeria Ltd and Nigeria Communication Commission .
“In 2010, the defendants rebranded Etisalat Nigeria Limited to 9mobile and entered into negotiations with Smile.com and Glo Network to transfer its licence without recourse to the plaintiffs.
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