Court restrains BPE, NERC, others on sales of Jos Disco’s shares

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The Abuja division of the Federal High Court has restrained the Bureau of Public Enterprises (BPE), the Nigerian Electricity Regulatory Commission (NERC), Scams Energy Limted and four others from taking any further steps over the plan to sell some shares of the Jos Electricity Distribution Company (JEDC).

Also affected by the court’s order are Aura Energy Limited, Highland Dsco Acquisition Limited, JEDC and Sushi Energy Limited.

Justice Taiwo Taiwo gave the order sequel to a suit marked: FHC/ABJ/CS/729/2020 filed by counsel to the two aggrieved stakeholders in JEDC – MBS Merchant Limited and Masanawa Enterprises Co. Ltd, Mahmud Magaji (SAN).

The judge while ruling in an ex-parte motion agreed with Magaji that the interest of his  clients would be jeopardized should the planned sale of 50 per cent of Aura Energy in JEDC to Highland Disco is effected before the determination of the substantive suit.

The court further granted an order of interim injunction “restraining the  defendants/respondents jointly and severally either by themselves or their agents, assigns and privies in whatever name so called from selling, leasing or transferring the 50% shares of Aura Energy Limited in Jos Electricity Distribution Company to Higland Disco Acquisition Limited or any other entity pending the determination of the motion on notice.”

Justice Taiwo further said: “An order of interim injunction is hereby made restraining the 5th defendant/respondent (BPE), its agents, assigns and privies in whatever name so called from giving its consent to the 2nd defendant/respondent (Aura Energy) with respect to selling, leasing or transferring the 50% shares of Aura Energy Limited in Jos Electricity Distribution Company to Highland Disco Acquisition Limited or any other entity pending the determination of the motion on notice.

“An order of interim injunction is hereby made restraining the 6th defendant/respondent (NERC), its agents, assigns and privies in whatever name so called from giving its consent/approval to the 2nd defendant/respondent with respect to selling, leasing or transferring the 50% shares of Aura Energy Limited in Jos Electricity Distribution Company to Highland Disco Acquisition Limited or any other entity pending the determination of the moon on notice.”

Justice Taiwo ordered the plaintiffs to put all the defendants on notice about the orders of injunction granted by the court.

He further ordered the plaintiffs to ensure that all the defendants are served with all the processes, including the writ of summons and the statement of claim.

The judge then adjourned till a later date for further proceedings in the case.