NATCOM DEVELOPMENT AND INVESTMENT LIMITED & NATCOM CONSORTIUM LIMITED V. BORNO STATE GOVT & ATTORNEY GENERAL AND COMMISSIONER OF JUSTICE, BORNO STATE

RUQAYAT OREMEI AYOOLA, J.C.A. (DELIVERING THE LEADING JUDGEMENT): The Appellants have brought this appeal against the judgment of the High Court of Borno State, delivered on the 5th of April 2022, in Suit No. BOHC/HC/MG/CV/30/2019 (the “Court below”), in which the Court below dismissed the Appellants’ claims. (See pages 115 – 126 of the Record of Appeal). The suit before the lower Court was commenced by Natcom Development & Investment Ltd and Natcom Consortium Ltd as claimants. Both companies contended that they were incorporated under the Companies and Allied Matters Act and that the 2nd claimant was established as the special purpose vehicle for acquiring the core assets of the former NITEL/Mtel in liquidation. 

According to the claimants’ pleadings, the Federal Government, through the Bureau of Public Enterprises, undertook a privatization and liquidation exercise in respect of NITEL Plc and Mtel Telecommunications Ltd. They averred that after several unsuccessful attempts to sell t…