Shareholders Fight JJ Okocha And Wife Over Sports Company

Culled from PMNews
A Federal High Court sitting in Lagos has fixed
18 September to decide either to relist or not
Jay-Jay Okocha Group West Africa Limited in a
petition filed against the former captain of the
Super Eagles, Okocha Austin Azuka a.k.a Jay-
Jay Okocha and his wife Nkechi Okocha.
Also joined as co-defendant is a limited
liability company; Jay-Jay Okocha Group West
Africa Limited, jointly formed by the former
footballer and six other shareholders namely;
Friday Nwankero-Kuja, Ijeoma Kuja,
Nwankwo-Kuja, James Chinedu, Nwankwo Kuja
Daniel Chukwudi, Nwankwo Kuja Mary
Chioma.
Two other companies Africa Shelter Sports
Consultant Limited, Friday Nwankwo and Sons
Limited are also petitioners in the impending
legal hostility.
In an affidavit sworn to by a Director and
shareholder of Jay-Jay Okocha Group West
Africa Limited, Friday Nwankwo Kuja, and
filed before the Court by a Lagos Lawyer,
Barrister Caleb Rotimi Oyekola, the petitioners
who claimed to be shareholders of the
company which was incorporated to arrange,
organise, finance and present sporting
events, alleged that Okocha and his wife,
Nkechi, who are the Chairman and Managing
Directors of the company respectively are
conducting the affairs of the company in an
illegal and oppressive manner.
Mr. Kuja alleged further that at the formative
stage of the company located at 46, Saka
Tinubu Street, Victoria Island, he expended a
total sum of N63m, while he was performing
his duties as the Executive Director in the
affairs of the company diligently and
productively.
He said he and other shareholders have now
been sidelined.
However, when he started clamoring for the
auditing of the company’s account in line with
the provisions of the Company and Allied
Matters Act to ascertain if the company was
making profit and to also enable the company
to file its annual returns to the Corporate
Affairs Commission, the respondents decided
to illegally and unlawfully ease him out of his
position as a Director contrary to the
provision of the Company and Allied Matters
Act.
Consequently, the respondents without any
valid resolution of the company conspired
together to have his properties thrown out of
his office without any authorisation from the
Board of Directors whereas himself and other
petitioners mentioned earlier are the majority
shareholders of the company.
Thereafter all efforts to have General Meeting
of the company as well as have the account of
the company audited and preparation of the
general statement of the company were met
with strong resistance by Okocha and his wife.
The petitioner alleged further that since the
formation and commencement of the
operation of the company, no board and
general meeting ever held.
It was also alleged that the respondents are at
the verge of selling off one of the business
company called Club 10.