By Chiangi Avese, Makurdi
Allotees of Benue Investment and Property Company Limited (BIPC), in the North Bank and Nyiman Estates, both in Makurdi, and who have defaulted in payment close to 15 years now may be on the way for losing out as the company has decided to revoke the allocations and put the properties in the market.
BIPC’s Managing Director, Dr. Raymond Asemakaha, who made this known on Saturday in separate meetings with defaulters of North Bank and Nyiman Estates in Makurdi said, he has resolved to revoke and put the properties for sale to enable the company meet up with its agreement with the Federal Mortgage Bank.
The MD who was accompanied by managing staff of the company, pointed out to the defaulters that the company has foreclosed the agreement with allotees of the two estates and would henceforth sell off the houses to recover the money and pay the proceed to the federal mortgage bank from whom the company obtained the facility.
He regretted that the 2007 loan agreement has attracted interest at the company’s expense, and that the company was on the verge of losing a its credit standing with the Federal Mortgage Bank.
“That will not happen under my Management and under this administration. The reputation of the Company will not go down under me. I will ensure that the defaulters pay or stand to be evicted”, the MD said.
“After 15 years, the allottees cannot claim that they do not have the financial capacity to pay the company. Tahe interest was 4 percent, today it has risen to over 35 percent and is causing the company a huge amount of service annually”.
He therefore, directed the publication of the names of the defaulters billed for foreclosure as from next week, saying the company has initiated the court’s order, adding that no leniency will be granted to any defaulting allottee.
Leaders of the two Estate who spoke on behalf of the allottees, Mr. Victor Asobo and Mr. Raphael Abo appealed for more time for defaulters of the estate to resume payment. They cited economic difficulties and appealed for a grace period of further four months to enable them to make up the payment.
