From Noah Ocheni, Lokoja
The Kogi State Government, on Thursday, presented to the public, 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 submitted to Governor Yahaya Bello of the state, last month, was presented to the public by the Secretary to the State Government, Dr. (Mrs) Folashade Ayoade.
She revealed with documents that the purported transfer of Obajana to Dangote Industries Limited, was “invalid, null and void”.
Ayoade disclosed 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 N63billion by Dangote.
According to her, the Committee, in view of its findings, has therefore recommended that Kogi State should take steps to recover Obajana Cement Company from the Dangote Group and all the accrued dividends from profits made over the years, including accrued interest on same.
“Kogi State Government should take steps to cancel the existing seven Certificates of Occupancy in the name of Dangote Cement Company.”
It was stressed that “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.”
“By the assignment of the three certificates of occupancy, the title in Obajana Cement Company Plc, still vests in Kogi State Government as the sole owner. The three documents were used to obtain a loan of sixty-three billion naira only (63,000,000,000.00) to finance the construction of the cement plant in Obajana.
Speaker of the Kogi State House of Assembly, Matthew Kolawole, specifically noted that the acquisition of the Obajana Cement Company by Dangote was without the resolution of the House of Assembly, which made the process null and void.
“All the transfer process of the share capital to Dangote from Obajana by the previous administration was without any law backing it by the state House of Assembly,” Kolawole stated.
In his remarks, Governor Yahaya Bello said that he had taken the bold steps, in line with his mandate to safeguard the lives and livelihood of the people of Kogi State, including residents, and to ensure their wellbeing.
Bello said this was also coming on the heels of protests by the people of the state who felt they had been suppressed and marginalised by the Dangote Group who had come to rip them off.
“We set up a committee to look into this and invited the Dangote company to discuss with them and tell them the imminent dangers they are exposing the people to, but it all fell on deaf ears.
“I am here to defend my people, and from all reports, it is clear that Obajana Cement Company does not belong to Dangote,” Governor Bello declared.
