Imo recovers shoe factory from AMCON after N1.6 billion debt payment

Imo State Government has received keys to the State Standard Shoe Factory from the Assets Management Company of Nigeria (AMCON).

The development is the fallout of payment of N1.6 billion debt to the company and subsequent handover of the Certificate of Occupancy (CoO), hitherto, seized by the assets company.

According to a statement by the state government, made available to The Guardian, yesterday, the keys were handed over to the Imo Commissioner for Commerce and Industry, Simon Ibegbulam, by the Chief Executive Officer of the RHODS Security, a Consultancy firm, Commodore Ogechi Osuagwu (rtd.), who stated that the company is satisfied by the commitment of the state government.

Osuagwu said the development led to the withdrawal of guard /security services on behalf of AMCON within the factory’s premises.

Speaking at the signing ceremony, Ibegbulem said the reopening of the factory would create a window of massive employment in the state.

He commended the effort of Governor Hope Uzodimma in recovering the factory by “paying off the debts and his determination to ensure the shoe industry bounced back.”