KWSG owned Harmony Holdings 100 per cent - Prof. Halidu

Chairman, Board of Directors, Harmony Holdings Limited, Professor Halidu Abubakar has dismissed insinuations that the company is jointly owned by the Kwara State Government and other private individuals.

Contrary to the speculation, Abubakar confirmed that the company is 100 per cent owned by Kwara State Government.

Also, the board chairman who is the Emir of Ilesha-Baruba and Chairman, Traditional Council in Baruten Local Government Area added that there are no plans to bring the state Ministries, Departments and Agencies under the company.

He said this while fielding questions from journalists during an interactive session organised by the company last Wednesday, stating that all Kwarans are shareholders in the company.

“100 per cent of the shares in this company is owned by Kwara State Government. And all Kwarans are shareholders of harmony holdings. There is no plan to transfer the MDAs to the holdings because it was not incorporated for such purposes".

"Let us look at with a common sense; nobody will transfer his responsibility to any other person to manage it. If we have transferred the MDAs then it means we are taking over government which legitimately no government will do. So, that is a blatant rumour, there is no true in it", he said.

Abubakar added, “No single individual or group of individuals own this company. The shares of this company are 100 per cent owned by Kwara State Government. I have never seen anything to the contrary, you know company are incorporated you cannot hide anything”.

"I encourage any member of society who thinks otherwise to take steps to verify the ownership status of the company from the Corporate Affairs Commission. At my age, with my experience and position, I have nothing to hide. I will not sit over the affairs of a company whose books and affairs are not open to the public, as I have nothing to fear, except God”.

On the rumour that the state government is planning to move all the state higher institutions to the company for effective monitoring, Abubakar said that there is nothing like that in place.

“I wondered how institutions established by enabling laws would be ceded to Harmony Holdings Ltd by individual fiat. Such ridiculous claims could only have been fabricated by elements with rich sense of imagination and comedy, as there has never been, nor ever would be such plan by the responsible and progressive administration of Alhaji Abdulfatah Ahmed”, he explained.

On the achievements of the company since inception, he stressed that the company has realised substantially the objectives which is to turn-around the fortunes of hitherto moribund companies owned by Kwara State Government into profitable entities.

The board chairman confirmed that the company made history in May 2014 when it paid N75Million dividend to the state government for the first year of operation, ended 31st December 2013.

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