Chairman of the Assets Management Corporation of Nigeria (AMCON) Kola Belgore has debunked statements credited to him in the media on the current state of Ajaokuta Steel Company.

Belgore's denial was contained in a letter to management of the company and made available to journalists at the weekend in Lokoja, Kogi State. In the letter addressed to Sole Administrator of the company, Engr. Joseph Onobere, the AMCON chairman denied saying that government was spending money on the company, without any results.

Belgore was quoted to have said that government was spending N3.4 billion monthly on the salaries of 6,000 workers "who were doing nothing at the company."

He admitted speaking at a luncheon in Ilorin, Kwara State, on the nation's ailing economy, the steel sector and other sundry issues, maintaining that he did not give the figures reported.

He said: "I did not and will never disparage the company. And since I do not work there, it is out of place for me to know and mention anything about total monthly wage bill, the number of machines installed and the number of staff in the company. I reiterate that the press did not quote me correctly. I have always supported Ajaokuta Steel Company and will not say or do anything to bring it into disrepute or ridicule."

Meanwhile, management of the company, through the Sole Administrator, Engr. Joseph Onobere, said it has only 2, 930 workers with a monthly wage bill of N288 million, which is paid to workers directly from the Office of the Accountant-General of the Federation.