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ALSCON Crisis: Appeal Court Affirms Order to Jail DG of BPE

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The Appeal Court in Abuja on Friday in a unanimous ruling gave the Bureau of Public Enterprises (BPE), and Alex Okoh, its director-general, 30 days to comply with and enforce the July 6, 2012 order of the Supreme Court in a unanimous ruling which affirmed BFIGroup as the winner of the bid for the Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, .

ALSCON Crisis: Appeal Court Affirms Order to Jail DG of BPE

Alex Okoh, DG of BPE

The Court affirmed the order of the Federal High Court, Abuja for the arrest and imprisonment of Okoh, for contempt and disobedience of Supreme Court orders over the ownership of Aluminium Smelter Company of Nigeria.

In a unanimous ruling, Justices Stephen Adah, A. Mustapha and Kenneth Amadi affirmed the order of Justice Anwuri Chikere of the Federal High Court in Abuja on December 17, 2019.

In his ruling on the application filed by BFIGroup, the Nigerian-American consortium declared winner of the bid for ALSCON in 2004, Justice Chikere ordered that Okoh be remanded in prison for a minimum of 30 days “until he purges himself of the contemptuous acts of disobedience of the orders of the Supreme Court.”

Since July 6, 2012, the apex court, in a unanimous ruling, affirmed BFIGroup as the winner of the bid ALSCON.

Following the bid for ALSCON held in 2004, the National Council for Privatisation (NCP) declared BFIGroup winner and the preferred bidder with an offer of $410 million.

But, BPE unilaterally cancelled the win in controversial circumstances, resulting in BFIGroup taking the matter before the court in 2006. The case dragged till July 2012 when the Supreme Court gave “an order of specific performance” to BPE to rescind its earlier decision to cancel the bid, reinstate BFIGroup and hand over ALSCON to it.

However, after two orders of the lower court seeking the enforcement of the Supreme Court ruling failed to persuade BPE to reverse its decision, BFIGroup on April 4, 2019 commenced contempt proceedings against BPE and Okoh.

On April 10, the court issued a formal notice to BPE and Okoh threatening to commit them to prison for their continued disobedience of the directive of the Appeal Court and the order of the Supreme Court in respect of the ownership crisis in ALSCON.

The notice read: “TAKE NOTICE that this Honourable Court will be moved on the 13th day of May 2019 at the hour of 9 O’clock in the forenoon or soon thereafter as Counsel may be heard on behalf of the Applicant praying this Honourable Court for:

  1. AN ORDER of this Honourable Court for Committal to Prison to be made against: a. Alex Okoh, Director General, Bureau of Public Enterprises; b. Bureau of Public Enterprises for disobeying and refusing to fully enforce the judgment/orders made by the Supreme Court in Appeal No. SC 12/2008 BFI Group v, BPE dated 6 July 2012 and the subsequent Enforcement Order contained in the Judgement of the Court of Appeal No. CA/A/637/2014 BPE v. BFI Group Corporation dated 11 January 2019.”

Okoh ignored the notice, by refusing to enter negotiations with BFIGroup pursuant to the order of the court. Consequently, on December 17, 2019, Justice Chikere ruled on the application granting BFIGROUPROUP’s request for Okoh and BPE to be remanded in prison for a minimum of 30 days.

Although BPE claimed on December 24, 2019 that it filed an appeal, No. CA/ A/117/M/2019, for a stay of execution of the committal order against its DG, BFIGroup’s Executive Vice President, Jimmie Williams, faulted the application as a sham.

In a petition to the President of the Court of Appeal titled “RE: Mr. Alex Okoh and BPE’s Sham Stay of Execution in Case No. FHC/ABJ/ CS/583/2004” dated January 21, 2020, Williams, who is also BFIGroup’s General Counsel, urged the court to uphold the contempt charge against Okoh.

However, when the Appeal Court entered a final ruling on the matter on Friday, Counsel to BFIGroup, Patrick Ikwueto, a Senior Advocate of Nigeria (SAN) told MEDIATRACNET that the court affirmed the order of the lower court.

“The Appeal Court upheld in its entirety the order of Justice Anwuri Chikere of the Federal High Court, Abuja which asked BPE and its DG to fully comply with the directive of the Supreme Court for ALSCON to be handed over to BFIGroup, the preferred winner of the bid. We expect BPE and its DG to do the honourable thing and respect the rule of law,” Ikwueto said.

Dr. Rueben Jaja, BFIGroup President, while reacting to the ruling, said the Appeal Court has demonstrated once again that the court is the hope of a common man.

“The court has reaffirmed that they are ready to support anyone, whether in Nigeria or abroad, who is ready to invest in Nigeria, despite the corrupt tendencies of some selfish and misguided public officials. BFIGroup is ready to go ahead to take over and revitalize ALSCON to benefit of the youth in the Niger Delta region,” Jaja said.

 

 

 


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CWG Board of Directors Approves 400% Increase in Dividend Payout

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CWG Plc has announced a significant milestone in its commitment to delivering value to shareholders. Following a thorough review of the company’s financial performance and outlook, the Board of Directors has approved a substantial increase of 400per cent in dividend payout to shareholders.

This decision reflects CWG’s confidence in its financial stability, growth trajectory, and ability to generate sustainable returns. By enhancing the dividend payout, CWG aims to reward shareholders for their continued trust and support while reaffirming its commitment to creating long-term value.

Mr. Philip Obioha, Chairman of the Board of Directors at CWG Plc, said, “The decision to approve a 400% increase in dividend payout underscores our confidence in CWG’s performance and outlook. We are dedicated to delivering value to our shareholders and believe that this significant dividend increase is a testament to our commitment to shareholder value creation.”

This increase in dividend payout aligns with CWG’s strategic objectives to prioritize shareholder interests and maintain strong financial discipline. The Board remains committed to prudent financial management and sustainable growth, ensuring that CWG continues to be a reliable investment for shareholders.

As CWG continues to execute its growth strategy and expand its presence in the market, the Board anticipates that the increased dividend payout will further strengthen investor confidence and support CWG’s vision for the future.


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Prof. Aliyu, AI Practitioner to Keynote ABoICT 2024

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CommunicationsWeek Media Limited, a certified global ICT company with over two million online subscribers, is delighted and proud to announce Prof. Yakub Aliyu, as the keynote speaker at Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture series 2024.

 

Aliyu, will be speaking on the theme: Artificial Intelligence (AI): The Good, The Complex and The Anticipated”, this leans heavily on the fact that AI changing our lives– we just need to know where to look today.

This year’s rebranded Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture/Awards Series is slated for Saturday, May 25, 2024 at the Four Points by Sheraton, Lagos.

The event is the most prestigious annual event that brings together captains of industry in both technology and financial worlds.

According to Ken Nwogbo, CEO, Communication Week Media Ltd, organisers of the ABoICT Distinguished Lecture/Awards Series, “the choice of Prof. Yakub Aliyu is deliberate because of his exceptional career in Artificial Intelligence (AI)”.

He added that, AI is considered to have the potential to instigate a fourth industrial revolution,1 and is dramatically changing people’s patterns of interaction and economic activities.

“The traditional factors of production and physical capital and labour may no longer promote substantial economic growth. It is generally believed that AI will be one of the most important factors determining future economic growth,” he said.

A professor of microelectronics and a scholar-practitioner in artificial intelligence and deep machine learning for industrial applications and high-speed application processors. His research interests include Multimodal AI models for high-efficiency industrial robot applications and Human AI interactions.

He also has adjunct academic professorships at five African, USA, and UK universities. Holds a BS in Applied Physics Electronics from Karlsruhe and A Bello Universities in Germany and Nigeria, an MBA in International Business Management from the University of London, an MSEE (Master of Engineering, Electronics), and a Ph.D. in Electronics Engineering from the University of Wales.

Prof. Aliyu is the global quality director for Bourns Inc., Riverside, California, USA, an electronics system, and components manufacturer. I oversee quality functions in 21 factories worldwide.

He has also held quality and operational management leadership positions at National Semiconductors, Bell Labs-Lucent Technology, Texas Instrument, Global Foundries, and Roper Technologies USA.

Authored and coauthored over 30 Advanced Technology United States-issued patents in High-Speed Application Processors and Contributed to over 40 international impact Journals, chapters, and conferences; FASI, SMIEEE USA, MIEE UK, M. Inst pf Physics Chartered Phys and C Eng UK.

Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.

Others are: Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Adewale Obadare, chief visionary officer, Digital Encode and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; Dr. Seyi Akindeind, co-founder, Digital Encode; Dr Krishnan Ranganath, Regional Director, Africa Data Centres.


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Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

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Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.

Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

Participants at the event

Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,

This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.

While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.

Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.

It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.

Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.

Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.

 

 

 

 

 

 

 

 

 


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