A Federal High Court in Lagos has ordered all parties involved in the Lafarge Africa Plc sale dispute to maintain the status quo pending the outcome of an appeal.
Justice Lewis Allagoa issued the directive after Lafarge Africa challenged the court’s earlier ruling, which dismissed its objection to the court’s jurisdiction.
The court had previously dismissed Lafarge Africa’s preliminary objection, paving the way for the substantive suit to proceed.
The dispute centers on Strategic Consultancy Ltd’s lawsuit against Lafarge Africa, its parent company Holcim Group, and others.
Strategic Consultancy alleges that Lafarge and its parent company, Holcim Group, conducted the sale of Lafarge’s 83.81% majority stake to Huaxin Cement Ltd in secrecy, violating Nigerian corporate and investment laws.
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During the proceedings, Lafarge Africa’s counsel, Babatunde Fagbohunlu, SAN, informed the court that an appeal had been filed against the jurisdiction ruling and urged the court to stay proceedings.
The second defendant’s counsel, Mene Josiah, echoed this call, while Strategic Consultancy’s counsel, Dr. D.A. Awosika, SAN, argued that the appeal did not automatically stay proceedings.
Justice Allagoa ruled that maintaining the status quo was necessary to protect the subject matter of the suit. He adjourned the case to October 9, 2025.
The dispute highlights concerns about transparency and protection of local investors in transactions involving foreign entities.
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