The Federal High Court in Lokoja, Kogi State, has entered judgment in favour of a mining firm, Quest Two Enterprises, which sued the Dangote Group Plc and three of its subsidiaries for breach of contract.
The court presided over by Justice Phoebe Ayua, in a November 30, 2017 judgment order, granted the mining firm’s claim of N2,697,125,000 against Dangote Group Plc.
Listed as other defendants in the 2014 suit lawsuit are Dangote Cement Plc, Obajana Cement Plc, Dangote Industries Limited and Jakura Marble Industries Limited.
The judge subsequently on December 5, 2017 granted a garnishee order nisi empowering the mining firm to proceed to the 21 commercial banks in Nigeria, where the defendants may have funds, to recover the judgment credit.
The defendants have, however, appealed the judgment and also filed an application to stay the execution of the judgment pending the outcome of the appeal.
Justice Ayua adjourned till January 9, 2018 to hear the application for stay of execution.