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BUA Lies, Dangote Lays Claim to Obu-Okpella Minings in Edo

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Dangote with BUA’s Samad Rabiu

Dangote Calls BUA Group Mischievous and a Liar

The management of Dangote Group on Monday refuted BUA Group’s publication that the two disputed mining sites, Obu and Okpella, has been awarded to the cement company following years of court proceedings.

Dangote Group accused BUA Group of mischievous claims and distortions of facts.

In a statement released by Dangote Group and signed by Devakumar Edwin, the Group Executive Director, the Group through its lawyers vigorously defended the Suit filed by BUA Group seeking a perpetual injunction Order against further interferences with their purported fundamental rights.

Edwin said Dangote Group appealed the High Court judgment and until the Appellate Court rules, BUA can not lay claim to the said sites.

“AICO thereafter applied to the Ministry of Mines for the approval of the Transfer vide a Mining Lease Transfer Form dated 11 July 2014. In 2016, the Ministry of Mines wrote to the Dangote Group to convey the approval of the Ministry for the Transfer/Assignment of 2541ML from AICO to Dangote Group with effect from 03 February 2016.

“Following the approval of the Ministry, the Dangote Group became the legal holder and owner of the Mining Lease No. 2541ML. The 2541ML Certificate was thereafter endorsed to reflect the transfer from AICO to the Dangote Group,” he added.

Edwin further explained that “To show the character of the BUA Group, these supremely critical facts were never brought to the attention of the Federal High Court in the Fundamental Rights Suit even though the Mining Cadastre Office letters were written about eight months before the Judgment of the Court was delivered.

“In effect and significantly so, when that Court was handing down its decision and issuing injunctive orders to protect BUA, BUA knew and was well aware, by virtue of the above-referenced letters, that its purported rights to the mining lease were non-existent!

“These facts were however mischievously and in a brazen display of mala fide concealed by the BUA Group from the Court! Even these facts constitute sufficient proof that the BUA Group’s claim to Mining Leases Nos. 18912 and 18913 rest entirely on quicksand and is therefore invalid baseless and totally non-existent. The general public is advised to be guided accordingly,” Edwin added.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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