Revocation of Ajaokuta, National Ore

Yesterday started as a normal day with so much to attend to like the payment committee meeting with the director and other heads of Departments in the office. I attended to some enquiries by mails and telephone calls, assigned responsibilities to subordinates and went for meetings with one of our bankers later in the afternoon. I closed really late because we had to sort out the salaries of junior staff members. It was a bit hectic because i had to eat some snacks in the office instead of going out for lunch.
I got back home hoping to retire early to bed but that was not to be as a call came through from a colleague in the plant that the Federal Government of Nigeria had voided the concessionary agreement entered into with Global Infrastructure Nigeria Limited on Ajaokuta Steel Company. Initially I was glad because GINL does not seem to have the finance and technical skills to manage a large Steel complex like that but later when the calls started coming in from other co-workers in Lagos and our bankers, i realised it was really serious. Serious in the sense that we in Lagos office may be forced to relocate to Ajaokuta. What will happened to our families in Lagos and what will happened to our daily office routine? Will we be accommodated in the plant? What will be our new roles in the plant or functions? Will we be assigned new tasks probably different from the ones handled in Lagos? What will happened to the banks that had financed our businesses and we are still owing? So many questions begging for answers.
I called my bosses but none answered. Eventually, my director sent a short message on the mobile phone that we have already instituted a legal action against the Federal Government in the arbitration Court in London which means the status quo remains until the case is decided. But the news said that the government had gone ahead to approve the establishment of an interim management pending the determination of all issues arising from the cancellation of the concession agrement. Which do we take now? The news still stands that the Federal Government of Nigeria after considering the report of the administrative panel of enquiry on compliance of parties to the concession agreement revoked it on the 2nd of April, 2008.
The administrative panel of enquiry indicted us for breaches of the concessionary agreements including failure to submit workable business plan within the specified timeframe, non payment of concessionary fees, canibalisation, exportation of iron ore and scraps and indebtedness of $192 million to local banks. These are serious issues and i hope the indians would respond and clear themselves.
Well the HR deparment called that our fate in the Lagos office would be known after
the meeting in the plant this morning. Fot the time being, we wait.