Indian employees of the Ajaokuta Steel Company and the National Iron Ore Mining Company have deserted their desks and official residences following Wednesday’s revocation of the concession of the companies to Global Infrastructure Nigeria Limited by President Umaru Yar’Adua.


This development is coming as indications emerged that some staffers of nine banks in the country may lose their jobs following the report of the Administrative Panel of Enquiry into the operations of ASCL and NIOMCO, which revealed that the banks gave out $192.20m to GINL without board resolutions on the subject in the past three years.

The decision of the Indians to abandon their duty post is as a result of fear of arrest by security officials after Yar’Adua ordered the prosecution of Nigerians and foreigners who helped in securing the deal and the alleged illegalities that followed, as revealed by the five-man panel headed by Mallam Inua Magaji.

The panel report stated that all bank facilities were secured with the assets of Delta Steel Company, Warri, which was also sold to GIHL.

The report also noted, that, “there were no bank board resolutions supporting any of the above borrowings.”

The panel observed that the value of DSC as at 2006, was N184bn, and warned that it feared that assets of DSC could support more borrowing and banks in Nigeria could be cowed into loaning more funds that could be illegally exported.

Investigation conducted by our correspondent on Monday showed that the President, Business Development of GINL, Mr. Sunil Manwati, who heads the Nigerian office of the company, and his subordinate who are Indians, have deserted his office and official residence.

Our correspondent gathered that the Permanent Secretary, Ministry of Mines and Steel Development was alerted that some Indians staff of GINL in Abuja were trying to remove important office materials and documents, prompting the ministry to apply to the Federal Capital Territory Police Commissioner to deploy security men around the Maitama office of GINL.

It was learnt that the Chairman of GINL, Mr. Pramod Mittal, had directed the speedy evacuation of his country men invited to work in Nigeria, while fears are rife that not less 1,000 staff employed by GINL in both ASCL and NIOMCO may lose their jobs as a result of the cancellation of the concession agreement.

Source:http://www.punchng.com/Articl.aspx?theartic=Art2008040813329

. . . .No comment yet.maybe soon files wud get lost and it wud be swept under the carpet . .the normal way.and the rat race continues