By Sarah NEGEDU
A Federal High Court sitting in the Federal Capital Territory has upturned the forceful removal of the former Managing Director of AMAC Investments and Property Development Company, IPDC.
The court in its ruling on January 26th, 2023, described Yakubu Adamu’s sack as unlawful and thereby null and void and incapable of having any legal consequence.
Justice M. O Olajuwon in his judgment in the case between Hon. Yakub Adamu and the immediate past chairman of AMAC, Hon. Abdullahi Candido and AMAC-IPDC, declared that the defendants cannot lawfully remove Yakubu Adamu as director of AMAC-IPDC.
Recall that the board of directors of AMAC-IPDC had at their held on August 31, 2021, revoke the appointment of Hon. Yakubu Adamu as Managing Director/Chief Executive Officer.
Justice Olajuwon ruled that their decision was wrongful and unlawful, and therefore declared that any purported implementation of the outcome of the August 31, 2021 board meeting, including constituting of a caretaker/interim management or otherwise, by whatever name or appellation called, to manage the affairs of AMAC-IPDC is unlawful, null, and void.
According to the judgment, “a declaration that the decisions taken at AMAC-IPDC Board of Directors’ meeting held on August 31, 2021, revoking the appointment of the Plaintiff as the Managing Director/ Chief Executive Officer of the 2nd Defendant is null and void and of no legal consequence.
“A declaration that any purported implementation of the outcome of the AMAC-IPDC Board Meeting of August 31, 2021, including the constitution of a caretaker/interim management or otherwise by whatever name or appellation called, to manage the affairs of the AMAC-IPDC, is unlawful, null, and void.”
The court also gave an order of injunction restraining the former chairman and AMAC-IPDC from giving effect or continuing to give effect to any of the decisions taken at the board meeting of AMAC-IPDC held on August 31, 2021, as the meeting has been nullified by the court.
Commending the court for its judgment, Hon. Yakubu Adamu, expressed gratitude to Justice Olajuwon for being fair in giving justice to the case, saying that his share of the company as a shareholder has been restored by the court.
“I am happy that the court has given me victory and declared that I am still a shareholder of AMAC-IPDC and that all the benefits that I am supposed to benefit from when I was wrongfully removed till date, be paid. I am very grateful to the court for the judgment,” he said.
