There are indications that the Lagos Deep Offshore Logistics (LADOL) has terminated the operating licence of Africoat, an indigenous company from its dockyard, barely two months after Samsung Heavy Industries Nigeria (SHIN) Limited, was banished from the same facility.

Investigation by The Daily showed that the latest development, has threaten to scare investors from investing in the nation’s economy.

It showed that Africoat has already received a final notice from LADOL for the removal of its equipment/properties from the free zone, thus destabilising its operations in Nigeria.

The Managing Director, LADOL, Dr. Amy Jadesimi, could not be reached for comments as at press time.

But, a source in LADOL stated that Africoat failed to pay rent fees and file quarterly data and annual returns to LADOL.

The final notice dated November 21, 2018 and addressed to the Managing Director of Africoat Nigeria Limited, Mr. Butch Ford, was signed by Mr. Anthony Onyeamama, representing Detailed Commercial Solicitors, which acted on behalf of LADOL.

The notice stated: “Please be advised that the timeframe given to Africoat by our client to move out all their equipment/properties from our client’s facilities had since elapsed on July 20, 2018, while we note that Africoat are yet to comply with this demand.

“However, our client is constrained to give Africoat up till November 30, 2018 to move out all their equipment/properties from our client’s facility as a sign of good faith on its part.”