From Okey Sampson, Umuahia Abia State Government has revoked the land title granted to Enyimba Automated Shoe Company (ENASCO), established by the administration of the immediate past governor of the state, Okezie Ikpeazu. In a statement issued by Ukoha Njoku Ukoha, the Chief Press Secretary (CPS) to Governor Alex Otti, the government said the move was made to reclaim all resources and assets of the state contributed to the company. The government’s decision, according to the statement, followed “a comprehensive regulatory, financial and operational review undertaken by reputable Big Four professional service firms, which unravelled significant discrepancies and corporate governance-related issues within ENASCO.” The state reportedly contributed immensely to the establishment of ENASCO in 2020, with equipment imported from Turkey and a projected annual production capacity of two million pairs of shoes. It said the aim was to elevate the state’s leather industry by producing high-quality footwear for the local and international market. The government said it was baffling to notice that the shareholding structure recorded at the Corporate Affairs Commission (CAC), as at November 2024 did not reflect Abia State Government as a shareholder or beneficial owner, despite its significant contributions. “Subsequent changes were made to the shareholding structure in July 2023, shortly after Governor Alex Otti took office. Yet, ABSG was still not mentioned as a shareholder in any publicly available records at CAC,” the statement said.