court strikes out suit against sovereign wealth authority md

The Federal High Court in Abuja on Monday struck out a suit praying for an order suspending the Managing Director/Chief Executive Officer of the Nigerian Sovereign Investment Authority, Uche Orji, and an order for a forensic audit of the organisation’s accounts from inception.

The plaintiff was by the suit marked, FHC/ABJ/CS/628/2020, challenging the legality of the NSIA, which was created by the NSIA (establishment) Act 2011 during the former President Goodluck Jonathan administration with the responsibility to receive, manage and invest some of the Federal Account funds to prepare for the eventual depletion of Nigeria’s oil reserve.

But Justice Ahmed Mohammed struck out the case on Monday following an application by the plaintiff, Johnmary Jideobi, who is an Abuja-based lawyer, for the withdrawal of the suit.

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