Story of the vanishing loaf: How to kill a local company

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or the first time was his calmness, in spite of the story of cheating and betrayals, which he would later share.

In 2006, Arco got a contract to maintain Agip’s gas plants and turbines in Delta and Rivers states, which was a good thing and a big deal for a local company then. Originally, the contract was exclusively awarded to Arco, although General Electric, the US multinational, had played a significant role in setting up the plant.

And there have been victims. Not struggling casualties on a danger list hoping to recover soon. According to Okoigun, at least five former staff of Arco have died waiting to collect their benefits. The company, I’m told, could not pay because its finances have been impaired by GE’s refusal to refund illegally deducted taxes, even taxes that it agreed during reconciliations up till June this year had been wrongfully deducted.

Through delays, prevarication, subterfuge and sabotage, GE has been angling for litigation, without saying so, knowing that they can lockdown the case for as long as it takes to do the right thing; knowing that once the matter is in court, they would fend off any sensible intervention, and hopefully, frustrate the other party.

 

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