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Nigerian Director Wins First Round In Battle For Popular Edmark Direct Marketing Limited

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By Michael Effiong
The minority shareholder and only Nigerian Director of Edmark Direct Marketing Nigeria Limited, Mr Etim Maurice Anthony has won round one of his legal battle with majority shareholder, Low Ban Chai and others.
Hon. Justice C.J. Aneke of the Federal High Court, Lagos had ruled that the interim ex-parte orders obtained by Mr Anthony was lawful and he was not guilty of any misrepresentation of material facts.
That was not all, the court also held that before the ex-parte is vacated the petitioners, that is Edmark Direct Marketing. Low Ban Chai and others would have to provide a satisfactory bank guarantee to be agreed upon by both parties covering Mr Anthony’s 5% shareholding.
This ruling is a big win for Mr Anthony who had rushed to court to seek redress after he was virtually schemed out from the company he set up, nurtured and turned into a money-making machine.

Mr Low Ban Chai: Majority Shareholder of Edmark who is in the eye of the storm

Mr. Anthony had dragged Edmark Direct Marketing Ltd, Low Ban Chai, Edmark Holdings Limited, Wapanio Benvendo and Jorolan Noel Had to court and also obtained an exparte to stop the company’s facilities located along Aromire Street, Ikeja Lagos. This was obtained on May 24, 2022.
The whole saga began on May 18, 2022 when Mr Anthony, the petitioner, filed a legal action  against five respondents, Edmark Direct Marketing Limited, Low Ban Chai, Edmark Holding Limited, Wapanio Bienvenido and Jorolan Noel Had.
He wanted a declaration that the affairs of Edmark Direct Marketing are being carried out by Low Ban Chai, the second respondent in manner that is oppressive, unfairly prejudicial, illegal and breaches his rights as contained in Companies and Allied Matters Act (CAMA) sections 107, 235, 250 and 252.
He averred that his relevant rights such as right to attend meetings and vote, on appointment and removal of secretary, on duty to keep open accounting records and annual accounts were breached.
He also prayed the court to grant an order setting aside the purported appointment of the fourth and fifth respondents (Wapanio Bienvenido and Jorolan Noel Had) as directors of Edmark Directing Marketing and an oder restraining the company and Low Ban Chai or their proxies from further passing any board meeting resolution, an order setting aside the any purported appointment of a company secretary for Edmark, an order setting aside the purported transfer of Edmark Direct marketing shares  to Edmark Holding and the registration of the said transfer of shares.
That was not all, he also wanted an order appointing the audit firm of Deliotte Nigeria to conduct a forensic audit of Edmark Direct Marketing’s account, income, expenditure, bank statements, assets and financials from 2010 till date, and  directing Edmark, Low Ban Chai and others to provide all financial records to the auditors.
He also wanted  an order directing Edmark Directing Marketing and Low Ban Chai to conduct the affairs of the company in a manner that is equitable and just to all shareholders including notifying the petitioner of all board and general meetings and participation in the management and administration of the company as along as he remains a shareholder.
Furthermore, he desires an order directing the first or second respondents to purchase the petitioner’s shares at a market value after valuation of Edmark’s assets and in the event of a deadlock,winding down of the company in a manner that is just and equitable under the law.
In addition, he wanted an order of interim injunction restraining the first respondents, their agents and others from depleting, withdrawing from,  transferring from, charging to, transacting on or dissipating Edmark’s assets pending the hearing and determination of the motion on notice for interlocutory injunction.
And an order of interim injunction restraining the respondent’s banks from disbursing funds from 13 and any other bank accounts linked to Edmark and its affiliates pending the hearing and determination of the suit.
Also an order mandating Edmark’s officers, managers and employers to disclose or provide information about the location of any property, assets or funds acquired with the company funds wether held directly or indirectly including but not related to ED2E Technology Nigeria Limited, Edmark City Development Company Limited, Megwang Resources Limited and any other related company.
He also wanted an order empowering the Receiver/Manager, Seyi Akinwunmi & Co to  preserve all assets of Edmark including  D’Podium Event Centre,Aromire Avenue, Edmark City Project, Lekki and order directing the Inspector-General of Police and his officers to assist the Receiver/Manager to effect the above order and ensure the safety of the assets.
On June 23, 2022, the respondents filed a motion on notice, seeking reliefs such as an order setting aside or discharging the order of interim injunction, or alternatively an order varying or modifying the ex-parte orders and  stay of execution of the order of interim injunction.
Mr Anthony had sworn to an affidavit that he was  consistently excluded in the management and administration of Edmark, that Low Ban Chai had requested him to transfer the sole mandate to the company account for ease of business and he trustingly accepted the proposal, not long after Low Ban Chai started taking unilateral decision and that he was never served notice or invited to general meeting since 2010.
He also averred that Low Ban Chai siphoned funds from Edmark into other ventures without his consent such as Edmark City Development Ltd, AD2E Technologyu Limited, is about to float a Microfinance Bank with a minimum deposit of N2billion and used the platform of Edmark to market a cryptocurrency “Edcoin”,  moved the proceeds of $15million to Megawang Resources Limited  and the funds moved offshore.He also stated that Low Ban Chai also prepares financial reports for governmental agencies without his signature as required by law.
He also revealed how he was offered N50million by Mr Donald Abih and a three bedroom apartment of be forced out by Low Ban Chai and because of his refusal, on May 11, 2022, Low Ban Chai secretly  filed notices before the Corporate Affairs Commission  and made changes to Edmark’s status adding two new directors (Bienvendo and Han) and transfer of 95% of Edmark to Edmark  Holding Limited.
It was based on these alleged wrong doings that he approached the court for an exparte and now the court has affirmed that his request was justified and has sent conditions for the opening of the Edmark’s facilities.

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  1. Pingback: Court Bars Edmark, Distributors From Importing Or Selling Products Except Through Receiver/Manager - TheBoss Newspaper

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Innovation Meets Vision As Glo Partners Samsung to Unveil New Galaxy S26

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In a convergence of technology and vision, digital solutions leader Globacom has entered a partnership with global electronics giant Samsung to introduce the much-anticipated Galaxy S26 Series to the Nigerian market. It is a device conceived for a generation that lives, works and dreams in real time.

The unveiling, held at Globacom’s corporate headquarters in Victoria Island, Lagos, gathered an august assembly of high-net-worth customers, industry figures and members of the media. The atmosphere was not merely ceremonial; it was symbolic — a quiet affirmation that when global engineering meets indigenous connectivity, innovation finds its true signal.

As part of the partnership, Globacom has commenced an exclusive pre-order window for its subscribers. Each Galaxy S26 purchased at any Gloworld outlet nationwide is bundled with 18GB of complimentary data under the Glo Smartphone Festival Data Plans delivered as 3GB monthly for six months.

In addition, customers receive a distinguished Platinum Number eSIM, accompanied by up to 10GB of extra data monthly. It is a proposition crafted not as an afterthought, but as a deliberate statement of value.

The Galaxy S26 Series itself is a study in assured sophistication. It fuses next-generation processing power with a sleek, immersive display, enhanced camera intelligence, durable battery performance and privacy screen technology. Its Agentic AI capabilities introduce a more intuitive user experience, one that anticipates need, protects data and enhances productivity.

In essence, it is a device built not merely to function, but to empower.

Speaking at the event, Samsung’s Product Manager, Sellout Platinum, Mr. Solomon Osibeluwo, described Globacom as the first partner to host the S26 masterclass session — a testament, he noted, to the enduring strength of the relationship between both organisations. He reaffirmed Samsung’s commitment to deepening this alliance, adding that the S26 Series has been meticulously engineered to enrich the calling, browsing and overall digital experience of Nigerians.

In his address, Globacom’s Head of Gloworld, Mr Mohamed Rabie, underscored that the collaboration is anchored on delivering real and measurable value. Premium technology, he remarked, must travel with meaningful benefit. He expressed pride that Globacom stands as the first partner to offer both the masterclass engagement and immediate pre-order advantages following the device’s launch in Nigeria.

Encouraging Nigerians to experience the device firsthand at Gloworld outlets nationwide, Rabie concluded with quiet conviction: “this moment transcends the unveiling of a smartphone. It signals the unfolding of new possibilities powered by intelligence, sustained by partnership, and carried on the dependable wings of connectivity”.

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FCCPC Uncovers Patterns of Price Manipulation by Local Airlines

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The Federal Competition and Consumer Protection Commission (FCCPC) has uncovered patterns of price manipulation perpetrated by some local airlines during the last festive season.

The findings are contained in the interim report released on Thursday by the Commission’s department of Surveillance and Investigations, according to a statement signed by the Director, Corporate Affairs, Ondaje Ijagwu, and made available to The Boss.

Recall that the Commission announced an industry-wide investigation earlier in January.

The forensic exercise benefitted from data collated by the Commission from airlines operating local routes in the country.

The report compares domestic airline pricing from the December 2025 festive period with post-peak January 2026 fare levels.

Preliminary analysis indicates that fares recorded during the December peak were materially higher than those observed in the post-peak period across several routes despite relative stability in critical operating variables like fuel price, government taxes and foreign exchange.

The differences observed in fares therefore appear to reflect airlines’ arbitrary pricing decisions, including yield management and capacity allocation, rather than any variation in regulatory fees.

Route-level analysis shows that higher fares coincided with periods of reduced seat availability during predictable seasonal demand peaks. On some high density routes, peak fares were clustered within relatively narrow ranges across several operators.

For instance, on certain corridors like Abuja-Port Harcourt, peak fares were several times higher than corresponding post-peak levels. On selected routes, the difference in the price of a single ticket reached approximately ₦405,000. Median fares across the sampled routes also rose markedly during the festive window when compared with post-peak benchmarks.

However, the interim report recognises that seasonal demand pressures, scheduling constraints and fleet utilisation may also affect pricing during peak travel periods.

These factors remain under consideration as part of the Commission’s ongoing review.

Commenting on the release of the interim report, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the review is part of the Commission’s statutory responsibility to promote competitive markets and safeguard consumers.

“This assessment is intended to provide clarity on pricing behaviour during predictable peak travel periods. The Commission’s role is not to disrupt legitimate commercial activity, but to ensure that market outcomes remain consistent with competition and consumer protection principles under the law,” Mr. Bello said.

He noted that the Commission is conducting further structural and route-level analysis before reaching any conclusions.

“It is important to emphasise that this is an interim report. Our next action will be dictated by full facts established at the end of the review exercise.  Then, the Commission will decide whether any regulatory guidance, engagement or enforcement steps are necessary, strictly in accordance with the law,” he said.

The report identifies the possible relevance of Sections 59, 72, 107, 108, 124 and 127 of the Federal Competition and Consumer Protection Act 2018, which respectively address the prohibition of agreements in restraint of competition, the prohibition of abuse of a dominant position, the offence of price-fixing, conspiracy to commit offences under the Act, the right to fair dealings, and the prohibition of unfair, unreasonable or unjust contract terms.

Meanwhile, Mr. Bello announced that foreign airlines will come under FCCPC radar after the ongoing review of local airlines in view of widespread complaints of exploitative fares they allegedly charge Nigerians on certain routes compared to fares in neighbouring countries that are of equal distance.

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Many Killled, Houses Torched As Terrorists Unleash Deadly Attacks on Adamawa Communities

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At least 25 ⁠people were killed and several houses torched after ​gunmen attacked two villages late on Tuesday in Adamawa State, northeast ‌Nigeria, residents and the ‌state governor said on Wednesday.

The attackers struck Kirchinga in Madagali ⁠district ⁠and Garaha in neighbouring Hong, two villages on the edge ​of the Sambisa Forest where Boko Haram and Islamic State West Africa Province (ISWAP) operate.

The twin raids highlight the enduring insecurity in Nigeria’s ​northeast, the epicentre of a 17-year Islamist insurgency, despite years of ⁠military ⁠campaigns.

Abubakar Lawan Kanuri, the ⁠village ​head of Kirchinga, told Reuters the attackers arrived on Tuesday evening ​dressed in military uniforms ⁠that initially led residents to mistake them for soldiers on patrol. He said 18 bodies were recovered after the gunmen swept through the community.

In Garaha, seven people were killed when ⁠gunmen on more than 50 motorcycles stormed the village and attacked ⁠a nearby military base, said resident Musa Isa, who added he “narrowly escaped.”

They advanced from several directions and hit the military base, killing three soldiers. Four fleeing residents were shot, and a school was also burned. Many villagers have since fled to Mubi, the nearest big town, Isa said.

Adamawa State Governor Ahmadu Umaru Fintiri condemned the attacks ⁠as “cowardly acts of terrorism” and vowed not to “let terrorists undermine our efforts to restore peace and stability,” according to a statement from his spokesman.

Source: usnews.com

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