Federal High Court in Abuja has ordered Airtel Nigeria to reverse its name to Econet Wireless Limited, following a case filed against it by Econet.
Justice Shuaib of the Federal High Court, Abuja, handed down the judgment in the matter between Econet Wireless Limited vs Bharti Airtel in suit No FHC/KD/ 39/2008 (Formerly FHC/ L/172/ 2004), had on January 24, 2012, where Econet claimed to still possess five per cent equity shares in Airtel Nigeria.
The court affirmed that Econet is a shareholder of Airtel and holds five per cent of issued shares of the company and ordered Airtel to reinstate the shareholding of Econet.
“The Corporate Affairs Commission has been ordered to cancel any certificate previously issued for the change of the name of the company and restore the name of the company to Econet Wireless Nigeria Limited,” a statement issued on behalf of Econet said.
Airtel said that it has filed an appeal against the judgment.
“the company abides by and has full confidence in the law of the land and believes the Appeal Court will determine the appeal on its merits.” Airtel said in a statement.