Abdulsamad Rabiu
Business

BUA Group to Dangote: Stop twisting facts, disparaging the courts

915

 

 

 

 

 

BUA Group has reacted to the Dangote Group’s claim that it owned the mining sites in Obu, Okpella in Edo State, saying it is an attempt to disparage the court on the pages of newspapers.

It described as untrue and laden with fraught misrepresentations the media publication by Dangote Group that BUA misinterpreted the fact about a pending court case.

“Dangote in its hurry to twist facts, failed to justify the alleged misinterpretation in its publication but stylishly stated that it has appealed the judgement whilst accepting the recent court order which granted BUA the right to peaceful possession and operations of three of its mining sites in Obu, Okpella in Edo State.

“In the said publication by Dangote Group, it was alleged that the initial publication of the BUA Group was riddled with misrepresentations and deliberate distortions of facts. We however note that the Dangote Group failed to identify any specific fact, which was distorted.

 

“On the contrary, the Dangote Group reiterated the fact that the judgment of the court indeed restrained DIL and the other Respondents, as contended by BUA, albeit stating that the judgment of the court constitutes complete aberrations and contains manifests contradictions; and it has exercised its legal right to appeal the decision of the court.

“ Whilst we consider this attempt to disparage the court on the pages of print media as an affront, we shall not be joining issues with the Dangote Group, as we are of the view that the court can protect itself and DIL reserves the right to appeal the decision of the court,’’ BUA said in statement by Mr O’tega, Group Head, Corporate Communications and obtained by Persecondnews.

 

The Dangote Group also questioned the right of BUA to institute the BUA fundamental right suit on the basis that it was a clear abuse of court process as there are two other pending suits – the BUA suit and suit No. FHC/B/CS/74/2016: Dangote Industries Limited & Anor. v. BUA International Limited &Ors (“Dangote Suit”).

 

BUA noted with dismay Dangote Group’s use of the Police to disrupt its operations done brazenly after DIL had applied to court for a restraining order against BUA in suit no. FHC/B/CS/74/2016 which was granted ex parte, but set aside by the Court upon a robust challenge by BUA.

“Interestingly, the Dangote Group did not deny resorting to self-help in its publication. It is our contention that no one should be above the law, no matter how highly placed, powerful or influential as the rule of law is the pillar and foundation of any democracy.

BUA dismissed claims by Dangote that it was granted mining lease by the Governor of Edo State, pointing out that the authority to grant a mining licence resides with the Federal Ministry of Mines and Steel Development through the Nigeria Mining Cadastre Office which granted the BUA licences.

 

BUA also dismissed Dangote’s claim to BUA’s mining sites in Edo as absurd and frivolous as Dangote’s mining licence was granted under Kogi State while BUA licences and mining sites respectively cover and are located in Obu, Okpella in Edo State.

 

The statement said: “With respect to the Dangote Group’s interpretation of the consequence of its Appeal of the decision of the Court, it is trite law that an appeal does not amount to a stay of execution and the Dangote Group is only being mischievous by suggesting that BUA is refrained from taking benefit of the judgment which was in BUA’s favour.

 

“BUA Group will not join issues with Dangote as the intention of its publication was to inform its shareholders and other stakeholders of the judgment of the Federal High Court which granted BUA’s and not commence a media trial.

“Whilst we consider this attempt to disparage the Court on the pages of print media as an affront, we shall not be joining issues with the Dangote Group, as we are of the view that the Court can protect itself and DIL reserves the right to appeal the decision of the Court.

“Paradoxically, the Dangote Group’s publication was fraught with untrue statements, which it touted as the facts of the matter in an attempt to misinform the general public.

 

Leave a comment

Related Articles

Tony Elumelu Named to IMF’s Advisory Council on Entrepreneurship, Growth

Founder and Group Chair of Heirs Holdings, Tony O. Elumelu, CFR, has...

2024 financials: UBA gross earnings grow from N2.08trn in 2023 to N3.19trn, grows profit to N804bln

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its...

Access Bank to Honour Power of 100 Awardees at International Women’s Day Conference

Access Bank, a leading financial institution committed to fostering gender equality and...

Air Peace Unveils Unbeatable Offer: N600,000 Discount on London-Lagos Airfare

Air Peace has unveiled an exciting offer for travelers connecting from various...

Tony Elumelu Foundation to Unveil 2025 Class of Emerging Entrepreneurs for TEF Programme

…Tony Elumelu Entrepreneurs have collectively created 1.5 million jobs and generated $4.2...

CBN Raises Alarm Over Illicit Naira Transactions, Urges Strict Measures

The Central Bank of Nigeria (CBN) has expressed concerns over the growing...

Naira Depreciates to ₦1,585/$ in Parallel Market, ₦1,546/$ in Official Market

The Nigerian currency, the Naira, has continued its downward trend, depreciating further...

Lagos State Solidifies Position as Africa’s Economic Powerhouse with $259bln GDP

Lagos State has reaffirmed its status as one of Africa’s leading economic...

Nigeria’s First Lady Commends Economic Team as Country Prepares to Host AFREXIMBANK Annual Meeting

Nigeria’s First Lady, Sen. Oluremi Tinubu, has praised the Minister of Finance...

Transcorp Group Achieves Remarkable Growth in 2024, Posts 107% Revenue Surge, 132% Profit-Before-Tax Increase

Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate has...

Naira Weakens to N1,550 Against Dollar Amid Increased Demand

The Nigerian naira has taken a hit, weakening to N1,550 against the...

Trump Establishes “Strategic Bitcoin Reserve” Via Executive Order

US President Donald Trump on Thursday signed an executive order establishing a...

CBN appoints 16 directors to strengthen its operations

The Central Bank of Nigeria (CBN) has taken a significant step to...

FirstBank holds groundbreaking ceremony for new state-of-the-art eco-friendly headquarters in Lagos

FirstBank, the premier bank in West Africa and a leading financial inclusion...

Tinubu Vows to Adopt Worldwide Best Practices to Revitalize Nigeria’s Economy

President Bola Tinubu has reiterated his administration’s commitment to learning from other...

FirstHoldCo: Reinforcing ESG, sustainability initiatives as it rebrands

By A.Ezekiel In a world where approximately 20% of new businesses fail...

Nigeria’s Net Domestic Credit Declines to N99.41trb in January 2025 – CBN

Nigeria’s net domestic credit has witnessed a significant decline, dropping to N99.41...

Nigeria’s GDP Grows by 3.84% in Q4 2024, Driven by Services Sector

Nigeria’s economy has shown resilience, with the country’s Gross Domestic Product (GDP)...

Tinubu Pledges to Support Fintech Companies, Hails Flutterwave’s Contribution to Digital Economy

In a significant boost to Nigeria’s financial technology (fintech) sector, President Bola...

Naira Appreciates to N1,514/$1 at Parallel Market, Gains N11 in One Day

The Nigerian naira continued its strong performance, appreciating by N11 or 0.72%...