By Aloysius Umalo, Makurdi
The Assets Recovery Commission of Inquiry set up by the State Government has interrogated the Managing Director of Benue Investment and Property Company (BIPC) and the General Manager of Benue Links Transport Company regarding the sale and lease of government assets, companies, and markets.
During the session, the MD of BIPC, Dr. Raymond Asemakaha, faced inquiries about the company's ownership of land in Karu, Abuja, among other matters.
The Commission probed the MD about the lack of documentation related to the company's shares, bonds, and vehicles, as well as the valuation process for their properties before entering into agreements.
Concerns were raised about the disadvantageous nature of some deals, such as the long-term lease of government properties by third parties.
Additionally, the Commission scrutinized the construction and sale of Nyorigungu Estate in Makurdi, emphasizing the financial losses incurred.
The MD also addressed the company's relationship with Renesaance, a business negotiation firm, and attempts to terminate their agreement due to unsatisfactory representation.
While the MD of BIPC was requested to provide further documents for clarification at a later date, the General Manager of Benue Links Nigeria Limited, Alexander Fanafa, received praise from the Commission for his cooperation and provision of relevant information.
The GM's case was adjourned for final reporting by the Commission to the State Government.
