The Federal High Court in Abuja, has sentence the Director-General of the Bureau of Public Enterprises, Alex Okoh, to one month imprisonment for contempt of court.
Justice Anwuli Chikere deliver the verdict for Okoh’s disobedience to the June 6, 2012 judgment of the Supreme Court which affirmed Bancorp Financial Investment Group as the true owner of the Aluminum Smelter Company of Nigeria.
The tussle of ownership of the Akwa Ibom-based aluminum plant between the indigenous BFIG and a Russian firm, Rusal, dates to 2004.
BFIG had filed a suit to reclaim the ownership of ALSCON, which it claimed was re-awarded to Rusal after winning the bidding for it in the aftermath of its privatisation by the then President Olusegun Obasanjo administration.
Rusal was said to have participated in the bidding.
BFIG, through its lawyer, Mr Patrick Ikwueto (SAN), prayed the court to make an order for the enforcement and crystallisation of the mutually agreed Share Purchase Agreement.
The High Court and the Court of Appeal had ruled in favour of BFIG as the owner of ALSON.
Okoh, as the DG of BPE, was said to have serially disobeyed the court decisions.
In April 2019, the BFIG instituted contempt proceedings against Okoh for disobeying the courts’ judgments.
Meanwhile, BPE, in a statement signed by the Head Public Communications, Amina Othman, said that it had filed a motion for stay of execution and Notice of Appeal against the judgment.
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