Federal High Court In Lagos State Has Nullified Jimoh Ibrahim Suit Of Claiming Ownership Of Newswatch Magazine

Billionaire Business Mogul 'Jimoh Ibrahim' loses ownership of Newswatch Magazine

The report reaching me right about now has it that the federal high court sitting in Lagos yesterday has passed verdict against the billionaire-business mogul “Jimoh Ibrahim” over the lawsuit file of claiming ownership of the Newswatch magazine.

It was stated that the Court has therefore quashed the Share Purchase Agreement , SPA that had earlier transferred ownership of the Newswatch magazine to Jimoh Ibrahim, and also awarded the sum of N15.7 million worth of damages against the respondents and stopped any further publications of Newswatch Daily as well as other relief demanded by the petitioners.

According to my source, this court verdict was passed just a day after 28^th anniversary of the death of Dele Giwa, who was killed via a letter bomb sent to him at his home on the October 19, 1986.  He was a co-founder of the said Newswatch magazine.

If you care to get more detail on this issue, you can reach out to the National dailies in Nigeria.