Dangote Cement Plc Responds to BUA Allegations

Proshare

Wednesday, December 20, 2017 /12:14PM / NSE 

Dangote Cement Plc. (DANGCEM, "DCP"), Africa's largest cement producer, has been made aware of several misleading media publications one of which was captioned "A Cry for Help: Wanton Abuse of Power by a Serving Minister Geared at Sabotaging Operations of BUA Cement"; wherein BUA International Limited ("BUA") alleged an abuse of power by the Federal Ministry of Mines and Steel Development ("Ministry") for the benefit of DCP, and made other unwarranted and unfounded claims. 

DCP wishes to draw attention to a subsequent publication released in the Punch newspaper by the Ministry on the 8th of December 2017, dearly stating their position on the letter by BUA and addressing the issues raised therein. Please see attached copy of the Press Release by the Ministry for your information and reference. 

DCP hereby confirms that the issues being raised are subject of litigation by several parties. The details of the cases are stated below, and may be tracked for further reference:


·    
Suit No. FHC/B/CS/7/2016
   BUA International Limited & BUA Cement vs. Hon. Minister of Mines & Steel Development and Dangote Cement Plc. (holding at the Benin Judicial Division).

·    
Suit No. FHC/LKJ/CS/25/2017
   HRH Alh Mohammed Otaru Adeika  & 4 Others vs. Aico Ado Ibrahim & Co. Ltd and the  Federal Ministry of Mines & Steel Development (holding at the Lokoja Judicial Division).

The ongoing suits shall be resolved by the courts in accordance with their role under the Constitution and laws of the Federal Republic of Nigeria. 

Further details on the matter will be published as appropriate
 


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