By Nkiruka Nnorom
Aggrieved by the plan of the Federal Government (FG) to borrow the over N158 billion outstanding unclaimed dividend, shareholders have sued the government at Federal High Court of Nigeria, Abeokuta Division, seeking to restrain the government from going ahead with the plan.
They said that allowing the federal government to go ahead with the plan would frustrate efforts by shareholders to recover any outstanding unclaimed dividend given the tedious processes involved in making that claim as contained in the 2020 Finance Act.
The case with Suit No. FHC/AB/FHR/14/2021 has the Attorney General of the Federation and Minister of Justice, Minister of Finance, Budget and National Planning and Accountant General of the Federation as respondents.
The shareholders under…