The Managing Director (MD), Abuja Markets Management Ltd (AMML), has terminated the appointment of its Managing Director, Alhaji Abubakar Faruk, in the face of a subsisting restraining order of court.

Faruk’s employment was terminated by Mr Abubakar Maina on behalf of the AMML’s shareholders vide a letter dated July 17 and signed by Mr Maina, the Group Managing Director (GMD) of Abuja Investments Company Ltd (AICL).

The letter reads: “We write to inform you that your services as Chief Executive Officer/Managing Director of Abuja Markets Management Limited (AMML) are no longer required.

“Your appointment as the Chief Executive Officer/Managing Director of Abuja Markets Management Limited (AMML) is therefore terminated with effect from July 17, 2023.

“Accordingly, kindly handover all properties and items belonging to AMML to the Company with immediate effect from the date of receipt of this letter.

“Note that your one (1) month salary in lieu of this notice as well as other benefits and emoluments as per your Letter of Appointment shall be paid upon your evacuation of office and return of all properties of AMML.

“Note also that this termination as Chief Executive Officer/Managing Director of AMML does not affect your status as Director of the Company.

“On behalf of the Shareholders of AMML, we appreciate your services and wish you the best going forward.

“Kindly be assured of our best regards.

“Yours sincerely, Abubakar Maina Sadiq (Chairman, Abuja Markets Management Limited) for and on behalf of shareholders of AMML.”

Justice Donatus Okorowo of the Abuja division of the Federal High Court, had in a judgment on July 10, nullified Faruk’s redeployment by yet-to-be ratified AMML Board Chairman, Maina, and the former Minister of FCT, Mohammed Bello.

The judge consequently ordered Faruk’s reinstatement as MD of AMML.

He also ordered the defendants, their staff and privies to restrain themselves from interfering with the Faruk’s exercise of his powers or carrying out the ordinary business of the company as an MD, including but not limited to holding board meetings.

The judge held that the decision of Maina and Bello to reconstitute the AMML’s Board of Directors in the manner done and publish in a press release of Feb 21 and inaugurated the said board on April 4 was unlawful, null and void.

Faruk had, on July 12, resumed to his office following the judgment about three years after the office was under lock.

But Maina, in a letter signed by him dated July 13 and addressed to AMML MD, titled: “Notice of Extra-Ordinary General Meeting of Members of Abuja Markets Management Ltd.,” informed that the meeting would hold on Monday (today).

He said that the meeting would consider, and if possible, make resolutions on issues bothering on the management of the company and the recent court judgment.

Maina said that the meeting, which was scheduled for Monday (July 17) at 9am, would take place at AICL boardroom where he is heading as GMD.

In the letter, he also enjoined members, who would be unable to attend the meeting, to complete an enclosed form of proxy, with the name of one of the company’s directors or any member of the company or the person whom they thought fit to appoint as their proxy.

But the AMML and sacked MD’s lawyer, Mr Faruk Khamagam, in a letter dated July 14, threatened to file contempt proceedings against Mr Olusade Adesola, the Permanent Secretary, Federal Capital Territory Administration (FCTA), and Maina over alleged plan to convene an emergency general meeting of AMML in contravention of valid court judgment.

He further said that a N1 billion suit would be instituted against such persons should they go ahead with the purported meeting.

The lawyer, in the letter written to AICL GMD and a copy sent to the permanent secretary in reaction to their letter to call for an extra-ordinary general meeting of AMML three days after a court judgment that restrained anyone from doing so, said such act would be contemptuous of the court order.

But in defiance of the FHC judgment, the meeting was convened today (Monday) and was attended by the Solicitor-General of FCTA, Garmia Garduya Bawa; GMD AICL, Mr Maina, and others, who were observers at the meeting.

Shortly after the meeting at about 10am, the newsmen asked Mr Bawa why the meeting was held despite court injunction and he simply said: “It is not me you will ask; go and ask them,” pointing to the AICL’s building.

Efforts to get Mr Maina’s reaction was unsuccessful as security officers prevented the journalists from seeing him.

It was, however, learnt that the extra-ordinary meeting when still ongoing when Faruk’s termination letter was being circulating in the official WhatsApp platform of AMML. (Daily Sun)

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