Business
CAMA: Court Dismisses CAN’s Suit Against CAC, Trade Minister

A Federal High Court, Abuja has dismissed a suit filed by the Christian Association of Nigeria against the Corporate Affairs Commission and the Minister of Industry, Trade and Investment.
Justice Inyang Ekwo, in a judgment, dismissed the suit over the failure of the plaintiff to comply with the law in the name used in filing the originating summons.
“Therefore, this application lacks merit and ought to be dismissed and I hereby make an order dismissing same,” he declared.
The News Agency of Nigeria reports that while the Incorporated Trustees of Christian Association of Nigeria is the plaintiff in the suit, the CAC and the Minister of Industry, Trade and Investment are 1st and 2nd defendants respectively.
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The plaintiff, in an originating summons marked: FHC/ABJ/CS/244/2021, had prayed the court to determine “whether Section 839, subsections (1), (7) (a) and (10) of the Companies and Allied Matters Act (CAMA), 2020, is inconsistent with Sections 4(8), 6(6)(b) and 40 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) which guarantees the plaintiff’s right to freedom of association and the right to seek redress in court.
“Whether the provision of Section 854 of the CAMA is inconsistent with Section 39 of the CFRN which guarantees the right to freedom of expression,” among others.
Part of the reliefs sought by the plaintiff include “a declaration that Section 839(1), (7) (a) and (10) of the CAMA are inconsistent with Section 40 of the CFRN and thus unconstitutional, null and void.
“A declaration that Section 839(1), (7) (a) and (10) of the CAMA are inconsistent with Section 4(8) of the CFRN and thus unconstitutional, null and void.
“A declaration that Section 839(1) and (7) (a) of the CAMA are inconsistent with Section 36(1) of the CFRN and thus unconstitutional, null and void.
“A declaration that Section 839(1) and (7) (a) of the CAMA has a direct effect on the judicial power of the court under Section 6(6) (b) of the CFRN, and Is therefore void.
“An order striking down Sections 839(1), (7) (a) & (10), 842(1) and (2), 843, 851 and 854 of the CAMA for being unconstitutional.
“A declaration that Section 17(2) (a) & (d) of the CAMA demand an impossible and impracticable action; thus, void.
“An Order striking down Section 17 (2) (a) & (d) of the CAMA for being impracticable and unknown to Law.”
However, in the course of the proceedings, CAN brought an application, praying for an order to amend the originating summons and accompanying processes by replacing the word, “INCORPORATED” with “REGISTERED” in the name of the plaintiff in the suit such that it would read, “The Registered Trustees of the Christian Association of Nigeria.”
The application was filed on the grounds that the name expressed in its certificate of incorporation is the “Registered Trustees of the Christian Association of Nigeria” and not “Incorporated Trustees of Christian Association of Nigeria.”
It stated further that in the originating summons, the plaintiff’s name was inadvertently expressed as “Incorporated Trustees of the Christian Association of Nigeria.”
“This error in the plaintiff’s name was as a result of the inadvertence of counsel.
“The error in the plaintiff’s name is what we seek by this application to rectify,” it added.
The plaintiff argued that it was an oversight on the part of the counsel who prepared the draft of the processes.
In its counter affidavit, the CAC had opposed the plaintiff’s suit, challenging the propriety of the constitution of the parties and competence of the plaintiff.
It argued that “The Incorporated Trustees of the Christian Association of Nigeria;” as a non-juristic person, was unknown to law to institute and maintain the action.
“The plaintiff is not an entity registered under the Companies and Allied Matters Act and not one otherwise recognised as being vested with statutory rights of incorporation and bereft of the requisite locus standi, legal capacity or competence to sue and maintain this action eo nomine against the 1st defendant.
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“The certificate of incorporation, Exh. P1, is a certificate of Christian Association of Nigeria and not the plaintiff.
“The plaintiff being the party invoking the jurisdiction of this Honourable Court is not a juristic person and incompetent to do so.
“The amendment which the plaintiff seeks is not one to cure a mere misnomer but an amendment to give life to the originating processes by substituting a non-juristic person with a juristic person.
“The originating process of the plaintiff is incurably defective and cannot be cured by an amendment.
“This court cannot by an order, breathe life on an otherwise lifeless and/or non-existent entity.”
The CAC insisted that granting the application would change the character of the case and would be prejudicial to it.
Delivering judgment, Justice Ekwo said he had taken a look at the certificate of incorporation of the plaintiff attached to the origination summons as Exh. P1 and found that the name on the certificate is ‘The Registered Trustees of Christian Association of Nigeria.”
“Further peruse shows that the certificate was issued under the regime of the Land (Perpetual Succession) Act, Cap. 98 of the 1958 LFN on 19th December, 1986.
“This means that the plaintiff was registered before CAMA first came into effect in 1990.
“With this evidence, it means the plaintiff can only sue and be sued in the name on the certificate issued to it on 19th December, 1986,” he said.
He cited a previous case to back his stand.
“There must be consequential order in the circumstance of this case.
“The originating processes in the name of ‘The Registered Trustees of Christian Association of Nigeria’ cannot stand.
“Similarly, it is my opinion that this ruling has therefore also resolved the issue in the preliminary objection of the 1st defendant too.
“I find that the plaintiff did not comply with the law in the name used in filing its originating summons.
“Therefore, this application lacks merit and ought to be dismissed and I hereby make an order dismissing same,” he ruled.
The judge added that the ruling affected the foundation of the case going by the defect in the name by which the plaintiff commenced the matter.
“I therefore make an order striking out the entire case. This is the order of this court,” Ekwo held.
(NAN)
Business
Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO
Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”
He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.
Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”
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According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.
The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.
He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.
According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.
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He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.
“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.
“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.
“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”
When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”
Business
JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike
Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.
Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.
This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.
Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.
According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.
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However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.
This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.
Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.
Business
Dangote Refinery Hikes Petrol Price
Dangote Refinery has increased the ex-depot price of petrol by N75.
The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.
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This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.
DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.
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