This includes other security documents contingent only upon its emergence as a preferred bidder by the Asset Management Corporation of Nigeria (AMCON) with respect to the sale of 60 per cent of the ownership interest in the Ibadan Electricity Distribution Company Ple (IBEDC).

The orders will subsist pending the hearing and determination of the accompanying motion for Interlocutory Injunction.

In an originating summons, the plaintiff is asking the court to determining the following questions:

“Whether the 1st defendant breached the Share Sales Agreement (SSA) between the 1st defendant and the plaintiff dated July 2024 by failing and otherwise refusing to transfer 50 per cent of the equity and shareholding in the 1st defendant to the plaintiff as provided in the SSA.

“Whether the 2nd defendant breached the Tripartite Custody Agreement amongst the plaintiff, 1st defendant and 2nd defendant by failing and otherwise refusing to release the Share Transfer Forms and other accompanying documents already signed by the plaintiff and 1st defendant to the plaintiff or, alternatively, filing the Security Documents with the CAC in accordance with the parties’ agreement in the event that the 1st defendant emerged as the preferred bidder with respect to the 1st defendant’s bid to acquire 60 per cent of the ownership interest in the IBEDC pursuant to the sale by the (AMCON,” among other prayers.