Afrigather The Governor Yahaya Bello-led Kogi authorities on Thursday expressed willpower to recuperate the Obajana Cement Plant from Dangote Group and its accomplices.
The federal government’s decision is contained within the report of the Specialised Technical Committee on the Analysis of the Legality of the Alleged Acquisition of Obajana Cement Firm by Dangote Cement Firm.
The detailed report, which was submitted to Governor Bello in September.
Earlier, the Kogi Home of Meeting had announced the sealing of the cement factory, threatening to arrest chairman of the Dangote Group Aliko Dangote.
The report was introduced to the general public by the Secretary to the State Authorities (SSG), Folashade Ayoade, on Thursday in Lokoja.
Ms Ayoade stated, “Restoration of the state’s Obajana Cement Firm Plc from Dangote Cement Firm Restricted turned crucial at this time limit.”
The SSG revealed with paperwork that the purported switch of Obajana to Dangote Industries Restricted was “invalid, null and void”.
She disclosed that within the report, three Certificates of Occupancy for Obajana Cement Firm Plc, which was solely owned by the Kogi State Authorities on the time, had been used to acquire a mortgage of N63 billion by Dangote.
Based on her, the committee, in view of its findings, has, subsequently, advisable that Kogi State ought to take steps to recuperate the Obajana Cement Firm from the Dangote Group.
The committee, chaired by the SSG, additionally advisable that: “Kogi State Authorities ought to take steps to recuperate all accrued dividends from income made over time, together with accrued curiosity on the identical.
“Kogi State Authorities ought to take steps to cancel the prevailing seven Certificates of Occupancy within the identify of Dangote Cement Firm.”
Stressing the aberration within the association, the SSG stated, “Settlement between Kogi State Authorities of Nigeria and Dangote Industries Restricted, dated thirtieth July 2002.
“And, supplemental agreements dated 14th February 2003, as contained in Exhibit 71 of the Judicial Fee of Inquiry Report, purporting the switch of Obajana Cement Firm Plc to Dangote Industries Restricted, are all invalid, null and void.
“There is no such thing as a proof of consideration paid by Dangote Industries Restricted to Kogi State Authorities from the alleged switch of Obajana Cement Firm Plc and no dividend was paid to the state from the income realised from the inception of Dangote Cement Firm Plc so far.
“By the project of the three certificates of occupancy, the title in Obajana Cement Firm Plc, nonetheless vests in Kogi State Authorities as the only real proprietor.
“The three paperwork had been used to acquire a mortgage of sixty-three billion naira solely (63,000,000,000.00) to finance the development of the cement plant in Obajana.”
Speaker of the Kogi State Home of Meeting, Matthew Kolawole, particularly famous that the acquisition of the Obajana Cement Firm by Dangote was with out the decision of the Home of Meeting, which made the method null and void.
“It’s clear that you simply can not promote a state authorities property of any kind with out the decision of the Kogi State Home of Meeting.
“All of the switch strategy of the share capital to Dangote from Obajana by the earlier administration was with none legislation backing it by the state Home of Meeting,” Mr Kolawole acknowledged.
In his remarks, Governor Yahaya Bello stated that he had taken the daring step, in keeping with his mandate to safeguard the lives and livelihood of the individuals of Kogi State, together with residents, and to make sure their wellbeing.
Mr Bello stated this was additionally approaching the heels of protests by the individuals of the state who felt that they had been suppressed and marginalised by the Dangote Group who had come to tear them off.
The governor, nevertheless, stated that the state was open to discussions as soon as Dangote Firm Plc is able to come clear.
“We obtained a number of petitions from most of the people over this specific material. Previously 5 to 6 years, all efforts to sit down with the proprietors of the Dangote Conglomerate failed.
“We arrange a committee to look into this and invited the Dangote firm to debate with them and inform them the approaching risks they’re exposing the individuals to, nevertheless it all fell on deaf ears.
“I’m right here to defend my individuals, and from all experiences, it’s clear that Obajana Cement Firm doesn’t belong to Dangote,” Mr Bello declared.
(NAN)
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