Hon. Ademorin Kuye
Reps intervenes in Delta Steel Assets Dispute
By Solomon Kpamor
The House of Representatives has waded into assets dispute involving Premium Steel Company, owners of the defunct Delta Steel Company, Aladja, in Delta State.
The House, through its Committee on Public Assets is acting on a petition brought before it by a group identified as Concerned Dwellers of Delta State, Aladja.
The Chairman of the committee and lawmaker Representing Shomolu Federal Constituency (Lagos State), Hon. Kuye Ademorin Aliu during an investigative hearing during the week said there were series of allegations of desecretion and mismanagement against Premium Steel Company formerly owned by the federal government before privatisation in 2005.
The lawmaker cautioned the Steel Company against actions that could undermine peaceful coexistence in the community until another meeting where final resolutions will be made.
Stakeholders and government agencies that appeared before the committee include the Beareu of Public Enterprise (BPE), led by the Director General Ayodeji Ariyo Gbeleji and some directors in the agency, representatives of Assets Management Company of Nigeria (AMCON), federal ministry of Finance, Premium Steel Company and Concerned Dwellers of Delta State, Aladja.
Checks reveal that after privatisation of the defunct Delta Steel Company in 2005 through the privatisation policy of Olusegun Obasanjo's administration, Global Infrastructure Nigeria, GIN Limited, which initially acquired the company, used it as collateral to obtain loans from financial institutions which they failed to pay back resulting in seizure of the assets by AMCON which later sold it to Premium Steel Company.
However the Beareu of Public Enterprises has consistently emphasised that it has no role in the affairs of steel company beyond privatisation which took place in 2005.
HYPE.NEWS REPORTS
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