It was a dramatic Monday at the House of Representatives as
staff of Premium Steel and Mines Limited (PSML) walked out on lawmakers during
a probe into alleged mismanagement of the company.
The house committee on steel is investigating the collapse
of the Delta Steel Company (DSC) in Udu, Delta state.
In 2019, the lower legislative chamber mandated the
committee to investigate the collapse of the company said to have been built
with the sum of $1.89 billion in 1982 and was handed over to PSML after it was
privatised in 2005.
Speaking during the public hearing on Monday, Jite Brown,
chairman of Udu LGA, Delta state, said PSML is incapable of managing the
company.
He accused PSML of looting and vandalising equipment in the
facility.
“We have all the pictures of the arrests we have made and
other investigations,” he said.
“We have called several security meetings to address the
residents and Premium Steel. The only response we get from them is that they
don’t have any obligation with the government; that they only have business
with Asset Management Corporation of Nigeria (AMCON) and AMCON has given them
all the right to do all what they are doing.
“We want this
committee to revoke the sale of DSC. They can’t handle the company; the company
is dying.”
But Albert Anozie, who represented AMCON, denied the involvement
of the agency in the collapse of the company.
“AMCON came into the picture as a result of a loan. AMCON
was created to resolve all outstanding loans and one of the loans was that
which has to do with Delta Steel Company,” Anozie said.
“We took over the asset that was charged to the loan that
was borrowed and as a result of that, we realised the loan that was taken.
“AMCON did not take over the running of and management of
Delta Steel. Whatever transpired beyond the loan, beyond the assets that were
charged beyond the various banks, we cannot say anything about that.
“What we took over was the asset that was charged to the
loan which the banks gave to the company.”
Also speaking, Uche Ogah, minister of state for mines and
steel development, said the ministry was not carried along when the
privatisation was done.
“I believe that one of the things we are doing here today is
to investigate to know the reasons. First, what led to the collapse of DSC?
Two, the process of sales and three, the continuity — the growing concern of
the business,” he said.
“So, for us at the
ministry, when all the assets were transferred to BPE, we have little or
nothing; we were not carried along. So, we may not have much to say.”
When PSML was asked to make its presentation, the leader of
the delegation who introduced himself as a lawyer, refused to be put on oath.
The committee subsequently prevented him from speaking and
demanded that the managing director of the company should appear instead.
At this point, the staff of PSML led by the counsel staged a
walkout.
Infuriated by the development, the representatives of the
host community started protesting in the hall and described the action as an
“insult”.
The fierce argument continue for about five minutes before
relative calm returned.
After the drama, Abdullahi Ali, chairman of the committee,
described the walkout as “criminal behaviour”.
He summoned the MD of PSML to appear before the panel on
Wednesday, adding that if the MD failed to appear, the lawmakers will issue a
warrant of arrest.
“You have all seen the criminal behaviour of Premium Steel
and everybody is embarrassed. They cannot walk out on the parliament because
this committee is an offshoot of the parliament and we cannot tolerate that,”
he said.
“In view of their criminal behaviour — for Premium Steel to
have walked out of the parliament is a disgrace to this nation — I hereby
summon the MD of Premium Steel to appear before the parliament on the 3rd of
November.”
Below is the video of the protest
Click to signup for FREE news updates, latest information and hottest gists everydayVIDEO: Host community protests as staff of Premium Steel Limited walk out on reps. pic.twitter.com/ciJ0xSUhAo
— TheCable (@thecableng) November 1, 2021
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