Investment Nightmare: How Oladapo Adesina’s 19 Gold Field Investment Loses Millions To Contract Dispute
•By Admin
IBADAN – An Abuja based Investment Company, 19 Gold Field Investment Limited has reportedly lost millions of naira investment over alleged breached of contractual agreement.
The Managing Director of the Company, Engr. Oladapo Adesina disclosed this in an interview with the newsmen.
He stated there was a contractual agreement with Unique El-Mao Nigeria Limited on the mining activities at a location in minna, Niger state which has been breached without recourse to the conditions stated in the Memorandum of Understanding.
Oladapo added that there was a bilateral agreement as detailed in the Memorandum of Understanding and Non Disclosure of Agreement between the two companies.
He added that the sharing for formula of 70: 30 percent was stated in both the agreement.
He stated that instead of honouring the agreement the Managing Director of Unique El-Mao, Hon mohammed Oghosi Onawo have alleged resulted to all manners of blackmail.
According to him, “The parties have entered into a Memorandum of Understanding dated 7th December 2016 for mining exploration at a location in Shiroro local government area, Niger state.
It was stated in the agreement that 19 Gold will be entitled to 22 percent of proceed from the mining activities at the operation site.
However, rather than being paid the said amount, Hon. Onawo had in one of his publications alleged me of stealing the Company properties.
He has forgotten that I was contracted to provide technical support for the project.
The matter has been reported to several security agencies including the Police and the Economic and Financial Crimes Commission, (EFCC) but Onawo is claiming to be above the law.
This development has made it impossible for my Company to offset the bank loan as well the payment of the workers salaries.
My lawyers have written several letters to him but of no effect.