Stakeholders of the Abuja Markets Management Limited have terminated the employment of the chief executive officer/managing director of Abuja Markets Management Limited (AMML), Abubakar Usman Faruk.
This was contained in a letter er addressed to Abubakar Usman Faruk, dated July 17, 2023 and signed by the chairman of Abuja Markets Management Limited, Abubakar Mana Sadiq, on behalf of shareholders of Abuja Markets Management Limited.
According to the letter, Faruk’s one-month salary in lieu of notice as well as other benefits and emoluments as per his letter of apppointment shall be paid upon his evacuation of office and return of all properties of AMMI in his possession.
The letter reads in part: “We write to inform you that your services as Chief Executive Officer/Managing Director of Abuja Markets Management Limited (AMMI.) are no longer required.
“Your appointment as the Chief Executive Officer/Managing Director of Abuja Markets Management Limited (AMML) is therefore terminated with effect from July 17, 2023. Accordingly, kindly handover all properties and items belonging to AMML to the Company with immediate effect from the date of receipt of this letter.
“Note that your one (1) month salary in lieu of this notice as well as other benefits and emoluments as per your Letter of Appointment shall be paid upon your evacuation of office and return of all properties of AMMI.
“Note also that this termination as Chief Executive Officer/Managing Director of AMML does not affect your status as Director of the Company. On behalf of the Shareholders of AMML, we appreciate your services and wish you the best going forward. Kindly be assured of our best regards.”
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