A Federal High Court in Abuja has dismissed a lawsuit filed by businessman Abubakar Funtua against 9mobile regarding the alleged transfer of his 43 million shares to Emerging Markets Telecommunications Services Limited (EMTS) without his consent. Justice Mohammed Umar ruled that Funtua did not have the legal standing to bring the case against the nine defendants involved, which included EMTS and other entities.
Funtua had sought multiple legal remedies, claiming he was the beneficial owner of the disputed shares held in trust for him. However, the court found that he failed to substantiate his claims or demonstrate any legal interest in the shares. The judge noted that the defendants had adequately countered Funtua’s assertions, leading to the decision to strike out the suit.
The ruling emphasized that without the proper legal standing, the court would not consider any other issues raised in the case. As a result, the lawsuit was dismissed, clearing 9mobile of the allegations made by Funtua and allowing the company to continue its operations without further legal complications.
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