The federal high court sitting in Lagos has adjourned indefinitely the suit filed against the former chairman of the Nigerian Stock Exchange [NSE], Alhaji Aliko Dangote, by some aggrieved shareholders of African Petroleum Plc.

Presiding justice James Soho who had earlier ordered the arrest of the billionaire businessman over his refusal to appear before the court adjourned the proceedings till further notice pending the determination of an appeal filed by Alhaji Dangote.

According to the Judge, the court no longer has jurisdiction over the case since there was evidence that the appeal court had taken over the case.
He said, And once that stage is reached, this court no longer has any business with the proceedings. There is evidence that the records of appeal from the Notice of Appeal filed by the first respondent (Dangote) were transmitted to the Court of Appeal on August 3, 2010.

It being so, this court is rendered functus officio (court lacks further jurisdiction to hear the case) to conduct further in this matter. And I so hold.

As the position stands, this court refrains from making any further order in this case except to adjourn it pending the outcome of the proceedings at the Court of Appeal.

In view of the state of affairs in this suit, it is hereby adjourning indefinitely.

But the judge further criticised Dangote�s attitude for failure to appear in court, saying that even if he believed that the court erred in making orders against him, such orders had not been vacated.

He also said that he would depart from Aniakor's proposal and refrain from making any order.

He added that the businessman ought to have appeared in court out of sheer courtesy, saying that there was the need to accord respect to constituted authority.

Alhaji Aliko Dangote who again failed to show up in court is facing allegations of parading himself as the President of the NSE despite an order of the court to the contrary.

Aniakor had earlier urged the court to commit Dangote on the grounds of his continued refusal to appear in court.

But a lawyer, Mr. Abubakar Shamsudeen, who represented the lead lawyer to Dangote, Mr. Rickey Tarfa (SAN), informed the court about a pending letter written by his principal.

Tarfa had in the letter dated October 18, 2010, told the court that, Having regards to Order 4, Rules 10 and 11 of the Court of Appeal Rules 2007 and the Supreme Court decision in Mohammed v. Olawunmi (1993) 4 NLWR (pt 287) SC P254, we believe that the honourable court should restrain itself from taking further steps in the matter as the Court of Appeal is seized of the whole proceedings as between the parties herein.

The AP shareholders had on July 29, 2009, filed the originating summons on behalf of the AP and alleged massive manipulation of the oil firm shares against the 14 defendants.

The plaintiffs also named Mr. Femi Otedola, Mr. Tunde Dalasinnu, and 11 others as co-defendants to the suit.

The shareholders had through their lawyer, Mr. Onyebuch Aniakor, initiated contempt proceedings against Dangote (the 11th defendant) just as the court issued a bench warrant against the businessman to compel his appearance in court.

But Dangote had urged Justice James Tsoho to stay execution on the bench warrant issued against him for failure to appear before the court and also asked the court to stay proceedings in the contempt proceedings, pending the determination of his appeal against the lower court�s ruling at the Court of Appeal in Lagos.