Abia Government Revokes Land Title Granted To Shoe Firm Established by Ex-Governor Ikpeazu

The Abia State Government has revoked the land title previously granted to Enyimba Automated Shoe Company (ENASCO), a firm established under former Governor Okezie Ikpeazu’s administration.

According to a statement from the Chief Press Secretary to Governor Alex Otti, Ukoha Njoku Ukoha, the revocation is part of efforts to reclaim state-owned assets and resources invested in the company.

The decision follows a thorough regulatory, financial, and operational audit conducted by a reputable Big Four accounting firm. The review reportedly uncovered major discrepancies and issues related to corporate governance within ENASCO.

ENASCO, launched in 2020, was heavily supported by the state government, with investments including imported machinery from Turkey and an estimated annual capacity to produce two million pairs of shoes. The project was intended to boost Abia’s leather industry and position the state as a hub for quality footwear production, both locally and internationally.

However, the government expressed concern over findings that, as of November 2024, the company’s records at the Corporate Affairs Commission (CAC) did not list the Abia State Government as a shareholder or beneficiary—despite its substantial financial and material contributions.

The statement further noted that changes to the company’s shareholding structure were made in July 2023, shortly after Governor Otti assumed office, yet the state remained unlisted in any official CAC documentation.