October 31, 2016/SEC
The Federal High Court sitting in Lagos has delivered its judgments on the three cases filed against the Commission by BGL Plc, its sponsored individuals and subsidiaries. The cases BGL had brought before the Lagos High Court against the Commission are:
I. FHC/L/CS/767/2015 BGL PLC & 4 ORS VS SECURITIES AND EXCHANGE COMMISSION
II. FHC/L/CS/1050/2015 BGL PLC & 12 ORS VS SECURITIES AND EXCHANGE COMMISSION & 2 ORS
III. FHC/L/121/2016 BGL ASSETS MANAGEMENT LIMITED & 22 ORS VS SECURITIES AND EXCHANGE COMMISSION & ANOR
In its rulings, the Court dismissed all the above cases “for being incompetent”, handing a major victory to the regulatory and investor protection mandates of the Commission.
