Dangote, MAN kick as Kogi claims Obajana plant ownership

The Kogi State Government has said that it will be ready to enter into negotiations once Dangote  Group is ready to admit that Obajana cement plant does not belong to it.

Governor Yahaya Bello stated this on Thursday while presenting documents to back the state’s claim to the ownership of the plant.

The documents are from the report of the Specialised Technical Committee on the Evaluation of the Legality of the Alleged Acquisition of Obajana Cement Company Plc by Dangote Cement Company Limited.

The detailed report, which was submitted to Governor Yahaya Bello last month, was presented to the public by the Secretary to the State Government, Dr. (Mrs) Folashade Ayoade.

According to her, the claimed transfer of Obajana to Dangote Industries Limited was “invalid, null and void.”

Ayoade said in the report that three certificates of occupancy for Obajana Cement Company Plc, which was solely owned by the Kogi State Government at the time, were used to obtain a loan of N63bn by Dangote.

She said the committee, in view of its findings, had recommended that Kogi State take steps to recover the Obajana Cement Company from the Dangote Group.

The committee, chaired by the Secretary to the State Government, also recommended that, “Kogi State Government should take steps to recover all accrued dividends from profits made over the years, including accrued interest on the same.

“Kogi State Government should take steps to cancel the existing seven Certificates of Occupancy in the name of Dangote Cement Company.”

“Agreement between Kogi State Government of Nigeria and Dangote Industries Limited, dated 30th July 2002 and supplemental agreement dated 14th February 2003, as contained in Exhibit 71 of the Judicial Commission of Inquiry Report, purporting the transfer of Obajana Cement Company Plc to Dangote Industries Limited, are all invalid, null and void. Punch