17 AUGUST 2011independentngonline
How $3.2b ALSCON was sold for $130m – BFI Group
Edited by : AL CIRCLE
1 min read
Fresh facts have emerged on how government-owned Aluminium Smelting Company of Nigeria (ALSCON) Ikot Abasi, Akwa Ibom State, set up with $3.2 billion, was sold to a Russian firm, Russal, for a paltry $130 million.
This was disclosed to the Senate Ad-hoc Committee probe panel led by Senator Ahmad Lawan looking into activities of the Bureau of Public Enterprises (BPE) by the Bancorp Financial Investment Group (BFIG) Corporation of America, insisting that handing over of the company to Russal was fraudulently done.
This was disclosed to the Senate Ad-hoc Committee probe panel led by Senator Ahmad Lawan looking into activities of the Bureau of Public Enterprises (BPE) by the Bancorp Financial Investment Group (BFIG) Corporation of America, insisting that handing over of the company to Russal was fraudulently done.
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