Ajaokuta Steel Company Matter Not Yet Resolved, Says  Global Steel Holdings


Yekini Jimoh in Lokoja
The management of Global Steel Holdings Limited (GSHL) has faulted  a  statement  credited  to the Minister of Mines  and Steel Development, Dr. Kayode Fayemi, that “the ownership of Ajaokuta Steel Company Limited has now reverted to the federal government.”

Global Steel, in a rebuttal, said the minister’s statement was capable of misleading stakeholders and urged Fayemi  to set the records straight. The rebuttal, signed  by GSHL’s Director,  S.O. Nwanbuoke, on Sunday read: “Although 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. “We are aware however that the delay in resolving the matter is not caused by GSHL. “The company has been open to and cooperated in all the requisite terms precedent to an amicable resolution of the matter.

“We 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.”