Business Regulations, Law & Practice | |
Business Regulations, Law & Practice | |
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Thursday, December 21, 2017 /10:15AM / BUA Group
BUA International Limited, owners of BUA Cement,
heartily welcomes the resolve by Dangote Cement Plc to await the outcome of the
courts in their corporate disclosure published on the Nigerian Stock Exchange
website dated 20 December, 2017 and titled, “DANGOTE CEMENT – RESPONSE TO
BUA ALLEGATIONS”.
This is in line with what BUA has always
insisted and we appreciate the decision to wait for a judicial outcome rather
than resorting to self-help and/or using influence and certain agencies of
government in disrupting operations at some of BUA’s mining areas covered by
ML18912 and ML18913 in Obu, Okpella, Edo State.
With respect to the statement by the Ministry of
Mines published in Punch Newspapers of December 8, 2017 and alluded to by
Dangote Cement Plc in its statement, BUA wishes to state that we have responded
to the ministry through our lawyers and via other media. BUA remains resolute
and unequivocal about its stand that ‘Status Quo be preserved’ as instructed by
the Federal High Court sitting in Benin in Suit No. FHC/B/CS/7/2016 BUA
International Limited & BUA Cement vs. Hon. Minister of Mines & Steel
Development and Dangote Cement Plc.
For the purpose of clarity, this means that BUA
remains in possession of the Mining Areas covered by Mining Leases 18912 and
18913 in Obu, Okpella, Edo State and will continue to exercise its rights to
operate those mines in line with the dictates of the courts. If anyone or
any stakeholder (especially the Ministry) remains in doubt as to what ‘Status
Quo’ means in this case, they are free to write to the courts for an
interpretation.
BUA also affirms that it fully intends to abide
by the outcomes of the judicial process as provided by the laws and Constitution
of the Federal Republic of Nigeria.
BUA also hopes that with the statement by
Dangote Cement Plc, this will put an end to the continued cycle of harassment
or clandestine moves by certain stakeholders to usurp the powers of the courts
and disrupt operations at our site in a clear disregard of existing court
directives. BUA therefore enjoins and urges all stakeholders involved - not
limited to the Edo State Government, the Ministry of Mines and Steel and
other parties - to also await the outcome of the judicial process in the
interest of a competitive business climate governed by the rule of law in
Nigeria.
Further details on this matter will be published
as appropriate.
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