A Federal High Court in Lagos has ordered all parties involved in the legal battle over the sale of Lafarge Africa Plc to Chinese company Huaxin Cement Ltd to maintain the status quo until an appeal is resolved.
The ruling, delivered by Justice Lewis Allagoa, came after Lafarge Africa filed a Notice of Appeal challenging an earlier court decision that dismissed its objection to the court’s jurisdiction.
The case was initiated by Strategic Consultancy Ltd, a Nigerian company and minority shareholder in Lafarge Africa. The firm is seeking to stop what it described as a “secretive” sale of Lafarge’s 83.81% stake by its Swiss parent company, Holcim Group, to Huaxin Cement. Strategic Consultancy alleges the transaction violates several Nigerian laws, including the Companies and Allied Matters Act (CAMA) 2020, the SEC Act, and the NIPC Act, particularly in relation to minority shareholder protections and foreign ownership limits.
Lafarge Africa’s legal counsel, Mr. Babatunde Fagbohunlu, SAN, informed the court that an appeal had already been filed and transmitted to the Court of Appeal, along with a formal request to pause further proceedings until the jurisdiction issue is resolved.
Counsel for the second defendant, Mr. Mene Josiah, also confirmed filing a separate appeal and supported the call for a stay of proceedings to prevent potential damage to all parties involved.
However, Dr. D.A. Awosika, SAN, representing Strategic Consultancy, argued that his client had not been served with the appeal notice and that under Order 11, Rule 4 of the Federal High Court Rules, an appeal does not automatically halt proceedings. He maintained that the appeal only relates to procedural issues and not the core of the case. Still, he agreed that if proceedings are paused, an order preserving the current state of affairs should be issued.
Justice Allagoa ruled that to protect the integrity of the dispute, all sides must preserve the status quo. The matter has been adjourned to October 9, 2025.
Lafarge Africa, one of Nigeria’s leading cement producers listed on the Nigerian Exchange, rose to dominance after acquiring three major firms during the 2001–2002 privatisation era. The Holcim Group had earlier notified the SEC of an internal restructuring, but Strategic Consultancy claims the sale of its 83.81% stake to Huaxin Cement was carried out secretly, bypassing local shareholders and denying them the right of first refusal.
The court dispute intensified following a ruling on May 15, 2025, which dismissed Lafarge Africa’s preliminary objection and allowed the main case to proceed—now temporarily paused pending the outcome of the appeal.
