BUA Stands Firm Against Dangote’s Bullying, Says We Will Not Be Intimidated or Unnerved

BUA Stands Firm Against Dangote’s Bullying, Says We Will Not Be Intimidated or Unnerved

The BUA group said on Monday that the firm is neither unnerved nor will it be intimidated by Dangote group or anyone in the ownership battle of the ML2541 mining site.

“The antecedents of Dangote Plc in  trying to outmuscle competition is not in doubt, the group said.

“Various cases abound within and outside the cement industry – one of which was their taking over of the limestone deposits of another competing entity in the south-south region of Nigeria until they ceeded him 25% of their company, the BUA group alleged in a statement.”

“This was in turn resold to them for hundreds of millions of dollars. Or is it the case of Ibeto whose business was almost driven under but for the prompt intervention of the then late President Umaru Musa Yar’Adua. Or is it the case of Polo House Jetty Tincan previously owned by his uncle, Usman Dantata, whose License was revoked by NPA and reallocated to Dangote on the same day in order to prevent a sugar refinery to be sited there by a competitor.”

The company alleged that Dangote is well known for outmuscling competitions.

“This latest statement by Dangote Group stinks of desperation in its continued attempt to disregard the judicial process and scheme a viable competitor out of business as has been their legendary antecedent.”

“Why is Dangote, an international company which is also listed on the Nigerian Stock Exchange, so averse to letting the rule of the law and judicial process take its course?

“The court has maintained that Status Quo be maintained (This includes BUA’s current ownership of our mines in Edo State) but the management of Dangote Group Dangote, as has been their strategy in the past to other companies in competition with them, is still seeking to out-muscle competition through backdoor means rather than let the court decide. If anyone is not satisfied, they should write to the courts as an independent arbiter for an interpretation of “maintaining status quo” rather than spread misinformation in the court of public opinion.”

“It is public knowledge that neither Dangote nor AICO or anyone for that matter can claim ownership of ML2541 as was stated in a court injunction by a Federal High Court sitting in Lokoja in suit FHC/LK/CS/25/2017 between Alhaji Mohammed Otaru Adeika & Ors. Versus AICO Ado Ibrahim and Company Limited, Federal Ministry of Mines and Steel, The Mining Cadestre Office and Dangote Industries Plc. How then can they continue to claim in obvious disregard of that court order that the ML2541 belongs to them?   No one is above the law.”

‘We wish to restate that BUA does not have any operations whatsoever in Okene, Kogi State where the purported ML2541 is situated. Our Mining operations are limited to Obu-Okpella, Edo State for which licenses ML18912 & 18913 were issued and revalidate by the same ministry in a publication .”

“These license have been owned, operated and fulfilled by BUA and its predecessors-in-title since 1976 as it is also a notorious fact that we have exercised total control and possession over the mining area covered by the above mining leases since 1976 when we operated under the name of Bendel Cement Company Limited.”

 

 

 

 

 

 

 

COMMENTS

WORDPRESS: 0
DISQUS: 0