 The House of Representatives Committee on Steel has summoned the managing director of premium steel, Mr Prasanta Mishra. He was summoned for failing to appear before an ongoing investigation into the mismanagement of Delta Steel Company, Aladja. The summons became necessary following his refusal to testify on the alleged wreckage of the multi-billion-dollar Delta State Company. It was established in 1979 by the federal government to drive the Industrial Revolution in Nigeria. Emanuel Ehigene completes this report. These are council and management team of premium steel staggering a work out from the public investigation. These were amised protest by leaders of host community of Udu local government where the company cited. Reason is the community turned down the request of a council from premium steel to address it on behalf of the managing director. But the community rejected the move insisting that the managing director must appear in person. He berated the councils for their irresponsible behaviour. The deputy chairman say aye. Aye. Those against say nay. The eyes have it. So, Mr Emanuel, you can step down. Honourable Benjamin Igbakba had earlier briefed on the importance of investigating the takeover by premium steel from global infrastructure. Also the downward slide and why it has become expedient to this time in the life of the country. Minister of Mines and Steel Development Uchioaga exonerated the ministry in the takeover process of Delta Steel from global infrastructure to premium steel, but called for an open investigation. Mr Chairman, it was discovered that the new company that did that acquisition was actually registered when the bid for this acquisition was already on. That is to say that that company was registered to buy Delta Steel. And as it is today, Delta Steel, a lot of the equipment in that place that used to employ over 5,000 young men and women is a ghost of its own shadow. There are a lot of issues on that asset because the asset was used to borrow money and in the process of borrowing money was transferred to Amcon and Amcon had to sell. Is it not true? So why you say I know? Because the global infrastructure was involved but along the line they were involved, they used the asset which was one of the reasons they were not supposed to use the assets of the company to borrow money. So the borrowed money and in the process Amcon had to, the banks had to transfer the debt to Amcon and Amcon has sold the asset to premium steel. A glory tale of balkanisation of Delta Steel edifes by premium steel management by rest of youths of the community. There are just about three of them that are running the entire company as we speak today. No other person is there with them that could have about 20 community boys. Those are the only people you can find in that yard if you go there. Premium steel is not capable. It's not capable. They don't have finance. They don't have money to run the plant. The investigation is expected to continue on Wednesday, November 3rd when the managing director of premium steel is expected to appear to testify before the committee. Hello. Hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.