IPMAN petitions AGF, IGP, EFCC, others over NIPCO’s planned AGM

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has petitioned the Attorney General of the Federation (AGF) and Inspector General of Police (IGP), seeking to stop the Managing Director, NIPCO Plc, Bestman Anakwe, from presiding over its July 19 Annual General Meeting (AGM).

It sent copies of the petition to the Director General, Department of State Services (DSS) and Chairman, Economic and Financial Crimes Commission (EFCC).

IPMAN’s letter, dated July 6, 2018 and addressed to Anakwe, was also copied the Director General, Securities and Exchange Commission (SEC) and Registrar General, Corporate Affairs Commission (CAC) Abuja.

In the petition written by Reuben Wanagho on behalf of Chinedu Ukadike and four others, IPMAN notified the recipients of the pendency of suit number FHC/PH/CS/06/2018, filed by Ukadike, Owonye Edheigho, Ugochukwu Duruaku, Ezekiel Eletuo and Victor Etefia.

In the suit filed both for themselves and as representatives of concerned members of IPMAN with Anakwe, NIPCO PLC, SEC and CAC as defendants, the plaintiffs are seeking the interpretation of section 252 of the Companies and Allied Matters Act (CAMA).

They are praying the court to determine whether or not under Section 252 (1) and (2) of CAMA, having failed to disclose to NIPCO (the second defendant) that he was above 70 years, Anakwe (the first defendant) was still eligible to continue as director and chairman of a publicly quoted company.

They are also seeking whether or not having breached the provisions of section 252 (1) of CAMA, he ought not to be removed as director and chairman of NIPCO.

However, in view of the pendency of the suit, the AGF, Police, DSS and EFCC, among others, were reminded of the need for NIPCO to respect the sanctity of judicial proceedings by not allowing him to preside over the AGM scheduled for July 19, as doing so would amount to contempt of court.

The petitioners had stated that they had filed a motion on notice for an order of interlocutory injunction on January 12 to restrain Anakwe from acting as a director and chairman of NIPCO in any manner whatsoever.

The plaintiffs also prayed for an order restraining him from presiding over any meeting including NIPCO’s AGM in his capacity as director or chairman pending the determination of the suit.