Innoson Motors To Lay Off Workers Over Forex Scarcity
Innocent Chukwuma, chief executive officer of Innoson Vehicle Manufacturing (IVM), said it may lay off workers over persistent forex scarcity.
According to Chukwuma, the company’s decision follows its inability to purchase imported components, hence its flagship white buses will have no engine for now.
Chukwuma who expressed his frustration said that the company is struggling to survive over its inability to secure the needed parts from Japan, China and Germany.
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“We are waiting for the imported items for which there is a forex issue,” he said.
In spite of his plight, he expressed confidence in the ability of the federal government to come to the rescue of the his car manufacturing company.
“I believe they are doing something but if they can’t do anything we’ll lay off some workers,” Chukwuma added.
Innoson’s product line includes heavy duty vehicles, middle and high-level buses.
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Two days ago, Paul Boroh, the special adviser to President Muhammadu Buhari on Niger Delta and coordinator of the Amnesty office, revealed that Innoson Motors employed 200 Niger Delta ex-militants, who recently completed their training in Automobile Technology and Plastic Manufacturing.
