The National Industrial Court of Nigeria (NICN), Akure Division, has ordered MTN Nigeria Communications Limited and MTN International, Mauritius, to pay its former Network Group Operations Manager, Mr Paul Odunewu, $13,419,728.54, £10,000 and N2,540,000 (totalling N4, 825,036,735.9) following wrongful termination of employment.
Justice Oyejoju Oyewunmi made the order following Odunewu’s suit challenging his 2006 termination and the deprivation of his entitlements including share options valued at $13,144,512.00. MTN Group Limited, South Africa; MTN Nigeria and MTN International, Mauritius were first, second and third defendants in the suit which lasted 10 years from the Lagos State High Court to the NICN.
” The judge ordered MTN to make the payments within 30 days following which the sums would appreciate at 21 percent interest per annum. In reaching judgment, the court agreed with the submissions of Odunewu’s counsel, Mr Kemi Balogun (SAN) that MTN unfairly imposed a restraint of trade on Odunewu, thus preventing him from working for a period.
Source: The Nation