The Court of Appeal in Lagos has reportedly awarded the ownership of the disputed NewsWatch publication to business mogul, Barrister Jimoh Ibrahim.
An SMS text obtained by this magazine this afternoon reads, “Congratulations all as we won today in Lagos at the Court of Appeal.
The judgment was that Newswatch was paid for and owned by our group and that the lower court was wrong. Truth will remain the truth no matter what. Newswatch will now be part of our global package. To God be the glory. JI CFR, Group Managing Director.”
In 2014, a Federal High Court sitting in Lagos had nullified Mr. Ibrahim’s ownership of Newswatch Communications Limited, publishers of Newswatch publications by quashing a Share Purchase Agreement, SPA, which transferred ownership of the newsmagazine to Ibrahim.
The court also awarded N15.7 million damages against the respondents as well as halted further publications of Newswatch Daily among other reliefs sought by the petitioners.
-Folorunsho Hamsat
