The recent clash between Dangote Group and Kogi State will see the people of the state smiling at the end of the dispute.
The state contended that DIL and DCP could not deny that Kogi State once invited them to invest in Obajana Cement Plc, but that the company is making false claims that Kogi State allegedly abandoned her allotted shares and was subsequently kicked out of the company it founded, thereby allegedly extinguishing all rights and interests of the state and her people in the operations of the company.
The recent clash with Africa’s richest man, Aliko Dangote, has followed the same pattern with the people of the state smiling at the end of the back and forth that lasted for over a week. The state government disclosed that successive administrations had always invited DIL and DCP to prove that they paid for the acquisition of Obajana and its alleged 100% ownership, “but every time, DIL and DCP have woefully failed to do so.”
The state government asked Dangote to answer the following questions: “How come years after DIL and DCP claim they acquired 100 per cent of the equity and assets of Obajana Cement Plc, Kogi State officials were still listed as shareholders of the company, holding shares for and on behalf of the people of Kogi State in filings made by DIL and DCP at the Corporate Affairs Commission ?”
To resolve the ownership dispute, Governor Bello said they would be ready to negotiate with Dangote Group once the firm was ready to admit that the plant belonged to the state, and the decision to seal off the plant followed several petitions by members of the local community over marginalisation by the company.
“And we want to assure the people of Kogi State that, with God on our side, what belongs to the state shall be recovered, including all dividends and interests on profits from inception till date. The Dangote Group is just distorting facts to save its face,” Fanwo added.