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Chams Plc Vs. Mastercard - An Avoidable Scandal

The Nigeria’s Chams Plc $360M Suit Against Mastercard, Ajay Banga, etc on NIMC Deal

Mastercard and its CEO Ajay Banga are not having a great evening. A Nigerian judge has “declined” a really amazing transaction which the payment processor giant had with the Nigerian government through NIMC. Yes, “Justice Rilawanu Aikawa of the Federal High Court sitting in Lagos has ordered all Nigerian banks not to accept the transaction of any Mastercard that has the logo of the National Identity Card Management Commission (NIMC) on it, due to ongoing rights’ infringement suit filed by Chams Plc, and Chams Consortium against the Singaporean financial company on August 28, 2019”, Samuel Nwite wrote for Tekedia.

IP, copyrights, trade secrets, contracts etc are little things but they can break or make businesses. This business conflict will destroy careers!

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