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Protests mount against attempt to sell 57-year-old Kano textile factory
Workers of Nigerian Braiding Manufacturers (NBM), Kano, established in 1962, have vowed to challenge the attempt by Asset Management Corporation of Nigeria (AMCON) to sell the company over N1.5bn debt.
They described the act as a breach of the court order issued by a Kano State High Court which calls for the maintenance of the status quo.
Speaking to Daily Trust, NBM’s accountant, Mr Lawrence Peter Kanu, alleged that the company with direct staff strength of over 500 and over 1000 casual workers was shut down on December 13 2018 without any form of formal or informal notice serve on its workers or management.
He said, the company had been in legal battle with a commercial bank for 12 years at a high court in Kano, adding that it was the court that ordered that a status quo be maintained pending the outcome of the suit before it.
Daily Trust, January 31, 2019
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