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Peacock Paints Limited

How corruption, questionable contracts led to the collapse of Akwa Ibom state-owned company

IN September 2015, Akwa Ibom State governor, Udom Emmanuel announced the reactivation of Peacock Paints Limited, a public limited company in Akwa Ibom with N526 million. Few years after its reactivation, investigations indicate the company is caught up in a web of corruption allegedly carried out by the management in connivance with the Board of Directors.

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