Posted by News Express | 4 February 2013 | 4,382 times
Two former directors of Newswatch Communications today failed in their bid to restrain the core investor, Barrister Jimoh Ibrahim, from further publication of either the magazine or the recently introduced newspaper variant.
Former Petroleum Minister, Prof. Jibril Aminu, and another minority shareholder, Alhaji Nuhu Wada Aruda, had approached the Federal High Court, Lagos, presided over by Justice Ibrahim Buba, praying it to reverse the alleged fraudulent acquisition of Newswatch by Ibrahim.
As reported by News Express three days ago, when the issue came up on January 31, Ibrahim failed in his preliminary objection bid to the suit.
It was however a different story when the case came up again today, as it was STRUCK OUT for lack of merit.
“We are very happy and in the middle of a celebration,” one of the Newswatch editors told News Express on phone.
He said Newswatch management would soon issue a statement on the court victory.
•Photo: Jimoh Ibrahim.
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