By Henry Ibya, Makurdi
Benue State Government through the Benue Investment and Property Company, BIPC Limited has vowed that it will stop at nothing to reclaim it’s equity shares payment which Dangote Cement Company PLC has failed to clear 19 years after it took over management of Benue Cement Company PLC, adding that modalities are being put in place to drag the cement company to court.
Managing Director/ CEO, Benue Investment and Property Company, BIPC Limited, Dr. Raymond Asemakaha who revealed government position during a press conference held at the company’s headquarters yesterday in Makurdi, expressed shock that 19 years after the change of ownership as a result of the federal government privatization policy,Dangote PLC has failed to honur its agreement with the Benue State Government who owned joint shares with the federal government.
He recalled that when Dangote PLC took over management of then BCC PLC, other shareholders including the federal government sold their shares, explaining that such stakeholders have no equity stake, and said Benue State Government kept it stake equity of 10% representing 111,4381,493 unit shares in the sum of N65, 871,293,212.30 respectively
The BIPC managing director said Dangote’s PLC failure to pay the alleged amount compelled Benue State Government some time to seek redress at the industrial tribunal, revealing that they both resolved for an out of court settlement.
He said during a meeting for an out of court settlement,it was agreed that BIPC managing shares on behalf of Benue State Government should be included on the board of Dangote PLC as deputy managing director, with two directors nominated by the Benue State government as members on the board, but lamented that non of the terms of the agreements have been honoured by the cement company.
The M/D lamented that some citizens of the state who held high public offices in the past connived with Dangote PLC to defraud government either in cash or property, disclosing that names of such people would be made public in due course.
He assured the people that BIPC will do everything possible to reclaim its stake at Dangote PLC, appealing to Benue people to remain calm.
