Monday , 27 September 2021

PROPERTY WORTH BILLIONS OF NAIRA ROTS AWAY AS MANAGEMENT CRISIS ROCK EGBA FOREMOST COMPANY

Johnson onifade Abeokuta
One of the foŕemost company based in Abeokuta the ogun state capital is now swimming in a pool of management and leadership crisis that may drive the once upon a pride of the Egbas into extinction if not properly handled.
The formost Egba based company NIGERIA PRESTRESS CONSTRUCTION COMPANY located at Lafenwa and Iberekodo area of Abeokuta was established in 1953 but swung into operation in 1954 was established by chief Sigmond Lambo an illustrious son of Egbaland while the company speciaised in the production of PRESTRESS concrete,Bridge Beam as well as Electric poles among others.
Our reporter reliably gathered that as a result of the demise of chief Lambo things started going down in the company when his son Barrister Femi Lambo took over the mantle of leadership in the company while poor management became the order of the day consequent upon which the company that once employed over four hundred direct labourers began to loose patronage while workers suffered unpaid salaries for months.
Probing further our reporter was able to meet the managing Director of the cmpany prince Abiodun karunwi who shed more light on the crisis pervading the company.
Prince karunwi who came from Oil and gas sector said that he decided to invest in the company as a major share holder but regretted that he was disappointed on the negative turn of events. “I was in the oil and Gas industry before i ventured into this and i invested all my money including loans. I observed that mr.olufemi Lambo was not financially commited to the company again.some board eventually left, other issues were not attended to by Barrister lambo thereby jeopardizing the smooth running of the once blossomed company.
“Yes,our Royal father and the paramont ruler of Egbaland land Oba Aremu Gbadebo has called us on different occasion to interven but it has not been very successful. I understand Lambo is not picking kabiyesi calls again but lets hope that something can still be done to redeem the situation.This place alone can employ over 500 direct workers,what happened to TOP brewries should not be allowed to happen and that’s why I want the issue to be resolved amicably “,he concluded.
When our reporter contacted mr.Olufemi Lambo,he promised to get back as he was in his lagos office.

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