We will create employment opportunities at ALSCON with Supreme Court verdict

We will create employment opportunities at ALSCON with Supreme Court verdict

The Chairman of BFIGroup Corporation, Dr. Reuben Jaja, has commended the Supreme Court judgment that BFIGroup be recognized immediately as the authentic winner of the bid for the Aluminium Smelter Company of Nigeria (ALSCON).



He said the verdict is a victory for the oppressed, job creation opportunities for the unemployed youths in the country, as well as the industrialization of the Niger Delta region.



The Supreme Court on Friday last week in a unanimous judgment read by Justice Olusola Fabiyi, ruled that BFIGroup Corporation emerged the preferred bidder for ALSCON, Ikot Abasi, discount north face fleece Akwa Ibom State, in 2004, by virtue of the fact that it was cleared to stand for the bid, which it won.



The apex court ruled that having fulfilled all conditions stipulated in the bid guidelines issued by both Bureau of Public Enterprises (BPE) and the National Council on Privatization (NCP) prior to the commencement of the process to privatize the aluminium plant, including the payment of a $1million cash bid bond, the group had a subsisting and valid contract that is binding, but was disqualified in controversial circumstances by the BPE.



BFIGroup was prequalified as one of northface clearance the two core investors interested in acquiring the 77.5 per cent Federal Government equity in the $3.2billion plant, and was declared winner of the bid for the plant by the NCP after its $410 million offer proved superior to the $160 million by UC Rusal.



While describing the ruling as a good judgment during an interactive session with newsmen after the judgment, Jaja hailed the judiciary as the hope of the oppressed, by returning a fair verdict that is consistent with the rule of law, justice and equity.



"We are determined to see what we can do with the plant by working with the good people of America that have supported us in the last eight years of our struggle to develop and create employment opportunities for the unemployed as well as industrialize the Niger Delta region.



"And so, this judgment delivered today is a great fight for the people of Nigeria, especially the common man, who are those going to benefit, particularly, the Niger Delta region for which the plant was built to help to promoting industrialization and development of the region because till today, they have not seen the fruit of the exercise", he said.



According to the BFIG Corporation boss, the Justices have made it clear from their judgment that there is specific performance, which means "that there must be specific date which includes the handing over of the plant pursuant to the agreement which were reached between us and the BPE and so, our lawyers will sort out the details".



"It is almost eight years and a month the struggle for this judgment and within this period, the plant has suffered tremendously and we have suffered tremendously because we have given it everything that we have as a result of damages and so many people have totally forgotten about the project as a result of threat to life.



"In fact, all I can say here is that the damages done to us is too severe in the eight years of struggle fighting the Federal Government of Nigeria along with a corrupt multinational elite in a transcontinental fight which we were pursuing in the United States of America, pursuing in Africa particularly here in Nigeria as well as investigating in the United Kingdom.



"The interesting thing about the judgment of today is that the judiciary in Nigeria gave a clear judgment for the oppressed. We strongly believe that the judiciary has given a good judgment and have truly proven that they are the last frontier or arbiter of the common man, irrespective of who is involved that this judiciary has acted and come out to give judgment that is consistent with the rule of law in fairness and equity", Jaja stressed.