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Respite, pains as AMCON settles DSC staff arrears

By Egufe Yafugborhi

ASSET Management Corporation of Nigeria, AMCON, have commenced settlement of salaries arrears of disengaged staff of moribund Delta Steel Company, DSC, Ovwian/Aaladja, Udu council area, Delta State, provoking mixed feelings among beneficiaries.

The arrears were accumulated when Global Infrastructure Nigeria Limited, GINL, acquired DSC and failed in liquidating its huge indebtedness to some banks, resulting in takeover of the company by AMCON.

The payment of arrears, which began Monday, has seen 1,545 of the total 1,682 screened beneficiaries receiving cheques ranging from N100,000 to over N2 million, depending on the staff level and nature of engagement.

Egbevwie Godfrey and Yusuf Nuru, two representatives of affected staff working to oversee the payment process with Dr. Joseph Nwobike (SAN), Receiver Manager for AMCOM, said beneficiaries were both happy and pained.

Nuru said: “We have suffered untold hardship waiting for these salary arrears. A number of us have died. One needed just N15,000 for medical attention. He could not raise it and died. We are relieved that Dr. Nwobike have come to our rescue.”

For Egbevwie: “We are elated that this payment will lead to the opening of the company by the new operators and consequently engagement of several workers. What we are not too happy about is that only 25 percent of what we are owed is being paid.

“Besides, several casual staff who are also being owed were not captured and not being paid. I appeal to AMCON to look into their cases and release something to these our colleagues. We are all affected.”

The exercise will end today in Warri.


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