Abdulsamad Rabiu
Business

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

702

 

 

 

 

 

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

Netflix raises subscription fees in Nigeria, the second in three months

by Ramlat Ibrahim Netflix has again announced another tariff hike for its...

Exciting prizes up for grabs with FirstBank Visa Gold and Visa Infinite Cards in 2024 summer campaign

First Bank, the West African premier financial institution and financial inclusion services...

Transcorp Hotels achieve 188 percent growth in 2024 half year

Transcorp Hotels, the hospitality subsidiary of one of Africa’s leading listed conglomerates,...

Why FG injected N1trn palliatives into manufacturing sector – Finance Minister Edun

The Federal Government has disclosed that a total sum of N1 trillion...

Breaking: Again, CBN increases interest to 26.75 percent

The Central Bank of Nigeria (CBN) has raised the monetary policy rate...

I’m no longer interested in investing in Nigeria’s steel industry, says Aliko Dangote

Alhaji Aliko Dangote, the Chairman of Dangote Industries Limited, has halted the...

With giants campaign, First Bank is truly woven into society’s fabric

The ‘Giant in you’ campaign of the FirstBank has again confirmed the...

CBN sells $122.67m to 46 authorized FX dealers

The Central Bank of Nigeria (CBN) says it has sold $122.67 million...

Nigeria’s FX reserves hit $35.05 bln, highest under Pres. Tinubu

Nigeria’s external reserves continue to soar, as the foreign exchange reserve hit...

UBA MD, Alawuba, appointed Chairman, CIBN Body of Banks’ CEOs

Oliver Alawuba, the Group Managing Director/Chief Executive Officer of United Bank for...

Nigeria seeks $172bn investment boost in key sectors

Nigeria Backbone Infrastructure Limited, a multinational company, has announced plans to invest...

Tinubu to release N2trn to revamp Nigerian economy

President Bola Tinubu has promised to revamp the Nigerian economy by injecting...

FG grants withholding tax exemptions to SMEs, farmers, manufacturers

Mr. Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy...

Nigeria’s foreign investment inflows grow by 210% in Q1 2024

Foreign investment inflows to Nigeria grew to $3.38 billion in the first...

CBN gets 7 days ultimatum to account for missing N100bn dirty notes, public funds

SERAP said the allegations are documented in the latest annual report recently...

Nigeria’s external reserves surge to $34bln, first since March

Nigeria’s external reserve hit a new milestone in June, rising to $34.07...

Regulation of crypto, digital assets now under full control, says SEC DG

The Securities and Exchange Commission (SEC)  says it has complete oversight and...

Glory days ahead for the naira – CBN Gov. Cardoso

Dr. Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN),...

Dangote Sugar Refinery registers N209bln multi-instrument issuance programme

In a bid to uphold the standard of its corporate objectives, Dangote...

CBN issued IMTOs Naira access to boost remittances

The Central Bank of Nigeria (CBN) says it has implemented new measures...