By Etuka Sunday
The Bureau of Public Enterprises (BPE) yesterday faulted the various media accounts on the alleged takeover of the Aluminum Smelter Company of Nigeria (ALSCON) by the BFI Group.
It however explained that it has not handed over ALSCON to BFIG or for that matter any other group other than the present managers, RUSAL.
A statement by the Head, Public Communications, BPE, Chigbo Anichebe said, “It is important to note that the Bureau only hands over Federal Government assets to those who bid and fully pay the bid consideration. BFIG has not paid a kobo.”
“As a result, BPE’s position has long been that BPE performed its obligations under the Supreme Court decision of 6 July 2012 but BFIG failed to perform its part of the obligations, the result being, in our opinion, that BFIG has no right to the said shares,” the statement said.
The statement further noted that “the decision of 30 September 2014 of the Federal High Court in Abuja in BFIG’s case against BPE to “enforce” the Supreme Court judgment, in our opinion, is in error.
That decision is already a subject of an appeal and BPE/NCP expects that decision to be reversed in the appellate court.” “In conclusion, BPE stands by its position that BFIG, having failed to comply with the Supreme Court judgment of 6 July 2012, has no right to the shares in question or to the ALSCON plant,” it concluded.