The Federal High Court in Abuja has halted the plan to sell the telecommunication firm, Etisalat, now called 9Mobile.
This followed an application by some aggrieved shareholders who are demanding that the planned sales should not be allowed to take place until they are paid the sum of $43.33m which they allegedly invested in the troubled company.
Justice Binta Nyako had, on Tuesday, granted the interim restraining order following an ex parteapplication moved during the proceedings by the plaintiffs’ lawyer, Mahmud Magaji (SAN).
The judge ruled that “an order is made for the maintenance of status quo as at Tuesday.”
She, however, noted that “the defendants ought to be heard” and therefore ordered the service of the plaintiffs’ processes on them.