A manufacturing company, Artco Industries Limited, has filed a ₦100 million lawsuit against the Corporate Affairs Commission (CAC), Artco Furniture Manufacturing Company Limited, and Chief Dr. Onyekachi Iheme over the alleged registration of a company with a name similar to its own. The company claims that this has led to a loss of revenue due to confusion and misrepresentation.
The lawsuit, filed at the Federal High Court, Abuja, challenges the registration of Artco Furniture Manufacturing Company Limited, which the plaintiff argues is nearly identical to its own name registered since 2003. This similarity, the plaintiff asserts, has misled the public into believing the two companies are connected or that the new entity is a subsidiary of the original Artco Industries.
The plaintiff seeks a court order to deregister the second defendant’s company and demands ₦100 million in damages for lost revenue caused by CAC’s alleged negligence in conducting due diligence before approving the registration. The claim also alleges that the second defendant was used by Iheme to divert business opportunities and deceive the public.
The suit is scheduled for hearing on October 7.
