Monday, September 12, 2011

How Nigeria Lost $250m in the Privatization of ALSCON - US Cables
11 September 2011

¶2. (SBU)  Summary: Earlier this year, Nigeria's Bureau of Public Enterprises (BPE) solicited bids in the sale of a majority stake in ALSCON, the state aluminum smelting plant. The bid by an American corporation, BFIGroup Corporation, to  acquire the 77.5 percent share in ALSCON allegedly has been thwarted by a lack of transparency in the bidding process, and perhaps some corruption as well. 

No comments:

Post a Comment