LAGOS — Managing Director and Chief Executive Officer of Industrial Metal Processing Company Limited, IMPCO, Chief Joseph Agbara, Monday, in Lagos, said he is still in charge of the company, describing contrary report as untrue and misleading.
He spoke against the backdrop of the leadership tussle between him and widow of late Chief Chijioke Agbo, both of whom were reportedly subscribers to the Memorandum and Articles of Association of the company.
Agbara in a statement by his counsel, Mr Chijioke Iloka, explained that until the demise of Chijioka Agbo, the deceased was chairman of the Board of Directors, while he (Agbara) was the Managing Director and Chief Executive Officer in charge of the day-to-day running of IMPCO.
Trouble, according to him, started after Chijioke died in 2005 and “a year after, Agbara invited his widow, Joy, to join him on the Board to fill the gap as mandated by law.”
He alleged that plots to arm twist and scheme him (Agbara) out of the management of IMPCO gave rise to the management position tussle.
“There had been several court cases up to seven in number lying in different courts, ranging from magistrate courts, Lagos State High Courts to Federal High Courts on various issues, including police intimidation and petition for the winding up of IMPCO as a result of serious feud with regards to the management/ownership /interest in IMPCO between me, Mrs Joy Agbo and families in suit numbers LD/1753/2011, ID/1251/2011, FHC/L/CS/467/2011, among others with the matter of petition for compulsory winding up of IMPCO coming up tomorrow at the Federal High Court, Lagos,” the statement said.
He stated that so far, he remained the Managing Director and Chief executive Officer of IMPCO.