Abiodun Adelaja
29 April 2005
Abuja — SALE of Aluminium Smelter Company (ALSCON) to Dayson Holdings Limited of Russia yesterday ran into a hitch as House of Representatives directed the Bureau for Public Enterprise (BPE) and other government agencies to halt the transactions over alleged impropriety in the deal.
Accusing the Presidency of alleged shady transactions regarding ALSCON's Privatisation, the lower house in a unanimous decision similarly directed its committees on Commercialisation and privatisation as well as Judiciary to commence immediate probe of the sale.
The House resolution to halt the sale and probe the deal was sequel to a motion sponsored by 28 of the legislators.
In the motion presented on behalf of the group by Hon Celestine Ughanze, the Presidency was accused of unduly influencing the sale of the firm to Dayson after it had lost in open bid.
Two companies namely BFI Group Corporation of United States and Dayson were said to have participated in the bid conducted on June 14, 2004 where BFI group won having offered $410 million.
Hon Ughanze, however, stated instead of selling ALSCON to BFI Group which offered $410 million, the Presidency directed that the company be sold to Dayson which bided $4205 million.
"A day after the BFI Group won their bid, instruction came from the President to Ministr of Power and Steel, Director General of BPE and Chairman Technical sub-committee of NCP to recall the disqualified Rusal of Russia to re-negotiate and sell ALSCON to them.
"From the negotiations that are going on now with Rusal, it is obvious that the interest the Presidency has in Rusal, warranted the termination of the bid won by BFI Group Corporation of USA without any valid reason", Hon Ughanze stated.
The federal lawmaker described as unpatriotic the "condut of the Presidency in inducing the termination of BFI Group Corporation of USA bid and fraudulently attempting to sell the ALSCON to Rusal at a very low price without competitive and transparent bidding process, amounts to corruption and fraud to the nation".
Other lawmakers who contributed to the debate accused President Olusegun Obasanjo of paying lip-service to corruption as he was on one hand vilifying members of the National Assembly of corruption, while the Presidency is wallowing in shaddy deals.
President Obasanjo, they said, was merely out to impress his foreign friends with his half hearted measure to fighting corruption.
Attempts by some members to call on Economic and financial Crime Commission (EFCC) to investigate the Presidency and BPE over the sale of all government companies since 1999, however, Failed as the House resolved that findings of a public hearing into in to the matter would determine the next line of action.
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