History would be made today, if all goes well, when the Ajaokuta Steel complex produces its first billet, an event that has waited 27 years. The roll out from the multi-billion plant was originally scheduled for October 9, but had to be shelved because of the national protest organised by the Nigeria Labour Congress (NLC).

Managing Director and Chief Executive of the management contractor, ISPAT Group, Lalit Kumar Seh-gal, confirmed last week in Abuja that prior to the suspension of the scheduled date, the coke oven at the plant had attained the heat level for ideal for production.

"Every of our plans for the take off of operations on the plant are in place. About 15,000 tonnes of billet have already been imported for the month's operations. We hope to increase the volume to about 30,000 tonnes by November and to about 50,000 tonnes subsequently", he said.

tember 29, to achieve over 1000 degrees centigrade heat level at which temperature is ideal for steel production.

Said Sehgal: "The billet mill is up and running. So, also is the sinter plant. We hope to complete the steel making capacity of the plant on schedule. Today, production furnace of the plant has achieved over 1,100 degrees centigrade of temperature and is still rising. Nothing is going to stop our plan to roll out production. We are on course to make the plant commence full operations in 2005".

Effort by the government in the past to get the plant to function failed, resulting in the loss of billions ofnaira over the years in maintenance.

A management contract signed on March 30, 2003 with Solgas Energy Limited for the rehabilitation, completion, commissioning and operation of the plant, which was 98 per cent completed at the time it was shut, was terminal ed last August following the company's failure to deliver on the mandate.

1. The publicity campaigns by the Central Bank of Nigeria (CBN) and the Government of the Federal Republic of Nigeria have proved successful in sensitizing the public about the menace of advance fee fraud and the falsehood of claims that easy money could be made in Nigeria. Consequently, the reported incidence of advance fee fraud (a.k.a. 419) has declined significantly. Nevertheless, there are still some people who have continued to fall victim to solicitations of advance fee fraudsters. This warning is, therefore, specifically intended for the benefit of those misguided people who, in the quest to make easy money at the expense of Nigeria, are defrauded by international fraudsters.

2. The advance fee fraud is perpetrated by enticing the victim with bogus 'business' proposal, which promises millions of US dollars as a reward. The scam letter usually promises to transfer huge amounts of money, usually in US dollars, purported to be part proceeds of certain contracts, to the addressee's bank account, to be shared in some proportion between the parties. A favourable response to the letter is followed by excuses why the funds cannot be remitted readily and subsequently by demands for proportionate sharing of payments for various 'taxes' and 'fees' supposedly to facilitate the processing and remittance of the alleged funds. The use of 'fake' Government, Central Bank of Nigeria, Nigeria National Petroleum Corporation, etc. documents is a common practice.

3. The fraudsters usually request that the transaction be done under the cover of confidentiality. Sometimes, the 'victims' are invited to Nigeria and other countries, where they are given red-carpet reception and attended to by the fraudsters, posing as Nigerian Government officials. Quite often, the fraudsters invent bogus Government committees purported to have cleared the payments. Also, it is not unusual for them to contrive fake publications in the newspapers evidencing purported approvals to transfer non-existent funds.

4. To consummate the transaction, the 'victim' would be required to pay 'advance fees' for various purposes: e.g. processing fees, unforeseen taxes, license fees, registration fees, signing/legal fees, fees for National Economic Recovery Fund, VAT, audit fees, insurance coverage fees, etc. The collection of these 'advance fees' is actually the real objective of the scam!

5. A recent variant of the scam directed primarily at the charitable organizations and religious bodies overseas involves bogus inheritance under a will. Again the sole aim is to collect the 'advance fees' already described above. A new strategy that has also been used to defraud the 'victims' is an offer to use chemicals to transform ordinary paper into US dollar bills, which would be subsequently shared by the parties.

6. You are again warned in your own interest not to become yet another dupe by consenting to these fraudulent solicitations or schemes. Genuine and prospective investors in Nigeria are advised to consult their home Chambers' of Commerce and Industry, or Nigeria's Chambers' of Commerce and Industry, Manufacturers' Associations of Nigeria, Federal Ministries of Commerce and Industry, Nigerian Missions in their countries of domicile, their embassies or High Commissions in Nigeria for proper briefing and advice.

7. The CBN and indeed, the Federal Government of Nigeria cannot and should not be held responsible for bogus and shady deals transacted with criminal intentions. As a responsible corporate body, the CBN is once again warning all recipients of fraudulent letters on bogus deals, that there are no contract payments trapped in the bank's vaults. They are once again put on notice that all documents pertaining to the payment, claims, or transfers purportedly issued by the bank, its senior executives or the Government of the Federal Republic of Nigeria for the various purposes described above are all forgeries, bogus and fraudulent.

8. Please join the CBN and the Federal Government of Nigeria to fight the criminal syndicates who play on the gullibility and greed of their 'victims' by reporting any solicitations to your local law enforcement agencies or the local International Police Organisation (Interpol).

YOU HAVE BEEN WARNED SEVERAL TIMES BEFORE! YOU HAVE BEEN WARNED AGAIN!!