
Abia State Government Revokes Land Title And Reclaims Assets Of The Enyimba Automated Shoe Company (ENASCO)
PRESS RELEASE: ABIA STATE GOVERNMENT REVOKES LAND TITLE AND RECLAIMS ASSETS OF THE ENYIMBA AUTOMATED SHOE COMPANY (ENASCO). The Abia State Government (ABSG) hereby revoke the land title granted to Enyimba Automated Shoe Company (ENASCO) and move to reclaim all Abia State Government resources and assets contributed to the Company. This decision followed a comprehensive regulatory, financial and operational review undertaken by reputable Big Four professional service firms, which unravelled significant discrepancies and corporate governance-related issues within ENASCO. SEQUENCE OF EVENTS LEADING TO THE DECISION: Establishment and Initial Contributions: ENASCO, with equipment imported from Turkey and a projected annual production…








