By Luka Binniyat
ABUJAâ€”The Interim Management Committee (IMC) which oversees the Ajaokuta Steel CompanyÂ Limited (ASCL) andÂ the Nigerian Iron Ore Mining Company (NIOMCO), Itapke, has written the House of Representatives warning that the two companies are very vulnerable to vandals and thieves as government has neglected funding the security of the two troubled companies.
The Management also denied allegation made by some members of Reps recently that there was massive looting of material and equipment goingÂ in the plants.
In a statement by the Chairman of IMC, Engr. Philips Umunnakwe, to the House of Representatives Committee on Steel and the Minister of Mines and Steel Development, Umunakwe said on the inauguration of the IMC in April, 2008, it was provided with N939,000 per week for the security of the two company and it continued up to February 2009.