Yekini Jimoh in Lokoja
The management of Global Steel Holdings Limited (GSHL) has faultedÂ aÂ statementÂ creditedÂ to the Minister of MinesÂ and Steel Development, Dr. Kayode Fayemi, that â€œthe ownership of Ajaokuta Steel Company Limited has now reverted to the federal government.â€
Global Steel, in a rebuttal, said the ministerâ€™s statement was capable of misleading stakeholders and urged FayemiÂ to set the records straight. The rebuttal, signed Â by GSHLâ€™s Director, Â S.O. Nwanbuoke, on Sunday read: â€œAlthough the company expects to be party to the resolution so referred to, we are not aware that the Ajaokuta Steel Company issue has been resolved. â€œWe are aware however that the delay in resolving the matter is not caused by GSHL. â€œThe company has been open to and cooperated in all the requisite terms precedent to an amicable resolution of the matter.
â€œWe put in all our efforts to conclude the due diligence process in the National Ore Mining Company, Itakpe (NIOMCO) with the conviction that the next phases of compliance with the terms of the International Court of Arbitration would be speedily determined. We regret that this has not been the case.â€