Wadocity Reporters - PSML floors BPE, as Court affirms that all Assets of DSC were transferred to PSML

PSML floors BPE, as Court affirms that all Assets of DSC were transferred to PSML

21, Jan, 2025 Breaking News!

A Federal High Court sitting in Lagos today, 21/01/2025 has declared that all assets of the Delta Steel Company, Ovwian-Aladja has been transferred to Premium Steel and Mines Limited, warning land speculators, property buyers etc not to deal with the Bureau of Public Enterprises with regards to any asset of the DSC.

Presided over by Honourable Justice Alagoa, the Court determined that the Bureau of Public Enterprises (BPE), National Council of Privatization and the Attorney General of the Federation, who were respondents in the case, failed to prove why any asset of DSC should be managed by the BPE, warning that since the transfer of assets of DSC have been made in favour of Premium Steel and Mines Limited, the new investor retains all assets of DSC.

The Court warns all land speculators to stay away from all the property of DSC, which now belong to Premium Steel and Mines Limited.

Reacting to the Court judgment, Barr Emmanuel Agbaje, counsel to PSML declared that the court victory was victory for the rule of law, truth, and fair-play, stressing that this had always been the position of the company over the years.

Barr Agbaje emphasized that all those in the habit of flouting court orders and buying and building on DSC land should understand that the long hand of the law has caught up with them and that very soon, illegally occupied assets of the company will be recovered.

He also disclosed that PSML was a company built on the core values of truth and incontrovertible legal foundation hence the company has always been unperturbed by pressures from unauthorized encroachments (who were warned and consistently warned to desist from their acts of trespass) into the company property over the years, knowing full well that in the fullness of time, the truth will prevail over falsehood.

We use this medium to advise Nigerians to stay away from all the assets of DSC or risk losing their investments to the bulldozers without any form of compensation.