BFI Group ready to reactivate ALSCON
Sopuruchi Onwuka
A Nigerian American consortium, the BFI Group, has declared its readiness to begin processes for reactivation of production at the Aluminum Smelter Company Limited in order to fast tract the ongoing economic diversification of the government.
The development came after the company claimed victory at the Federal Court of Appeal against the Bureau of Public Enterprises (BPE) over delays in handing the company over to it after successful bid process that ended in 2012.
The group claims it is the winner of the bid for ALSCON in a privatization programme conducted by the BPE over six years ago.
President of the BFI Group, High Chief Dr. Reuben Jaja, who spoke at the court premises after the judgment, stated that the judgment of the appellate court has brought closure to protracted leags battle over the control of the company.
“This means finality, it means ALSCON can move forward, it means Nigeria can finally put this strategic asset into use, it means our industrialization policy, particularly in the Niger-Delta region will now commence,” he told newsmen.
High Chief Jaja explained that the Appeal Court judgment has finally validated acquisition of ALSCON by the BFI Group, adding that all the issues in question have now been determined by the court.
“Like I said, this judgment of the Appeal Court indicates finality to the long legal tussle. It would basically ensure that both parties understand that there is a limitation to legal tussle, and let us focus on helping our country to move forward.
“This is our administration, this government is serious with rehabilitating and refocusing the economy, and those of us who are in the private sector, and are positioned and willing to assist this government move forward must be given a chance to support not just this government but the country in general.
“This judgment has rekindled my confidence in my country, particularly the judiciary. The judiciary looked at the matters and left all the rhetoric and issues that aren’t vital to the assessment of the truth and facts and merits of the case, so the judgment has given me a strong confidence as a business man, and also it has reassured international investors who may be thinking of coming into Nigeria, that the Legal system is strong and bold enough to take action on any case whether it involves the government or private sector, and take decisions that are based on fairness, equity and fair play.
“This is a signal not only to domestic captains of industry, but also to industrialists in the international community, who had interest in our nation.
“However, for civil servants who are privileged to be saddled with the responsibility of managing or directing the affairs of our most strategic public agencies in this country, I would appeal to them to be patriotic citizens and place their nation first, and above all things. Think first of what you can use that privileged position to do for your country and not what your country can do for you, according to president JF Kennedy.
“This is serious because your legacy must be quoted by succeeding generations. We must leave something of value for the future because our children will be competing with the children from other nations around the globe. We must not by our actions or inactions today, put them at a disadvantage in the future,” narrated.
According to a statement signed by the media Adviser to the BFI Group, Mr Yemie Adeoye, the Clourt of Appeal had found the BPE liable for disobeying the decision of the Supreme Court in 2012 on the privation of ALSCON which was previously owned by the federal government.
Mr Adeoye narrated that the latest appeal court judgment would be reaffirmation of the previous orders on the BPE to transfer ALSCON to the BFI Group.
There was no court document attached to the statement by Mr Adeoye even as he said that the failure of the BPE to obey a 2012 Supreme Court order necessitated the decision of the BFI Group to approach the Federal high Court to compel the privatization agency to effect transfer of the asset.
