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AllAfrica.com: Russia-Nigeria Aluminium Deal 'Corrupt'
Business Day (Johannesburg)
February 10, 2006
A privatisation deal to sell control of the Aluminium Smelter Company of Nigeria (Alscon) to Russian Aluminium (Rusal) has come under attack
Nigerian members of parliament have passed a resolution on the deal, which was announced last week and confirmed by Rusal, saying it "amounts to corruption and fraud to the nation". President Olusegun Obasanjo and his personal advisers are directly involved in the scandal, according to the Nigerian-American company Bancorp Financial Investment Group (BFIG), whose high bid for Alscon was first accepted and then rejected by Nigerian government officials. Nigeria's Federal Appeals Court is reviewing a legal challenge by BFIG, which could cancel the Rusal deal
July 28 2009
Aluminum rose for an 11th day, the longest advance in at least 22 years
Aluminum has jumped 18 percent since July 13