By Kajo Martins, Makurdi
The Managing Director of Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, on Saturday, held separate meetings with defaulters of North Bank and Nyiman Estates in Makurdi, the state capital, with a resolve to revoke and put same for sale.
Accompanied by the staff of the company, the Managing Director informed defaulters that the company had foreclosed the agreement with allottees 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.
While emphasising that the 2007 loan agreement has attracted interest at the company’s expense, the MD stated that the company was on the verge of losing a good credit score with the federal mortgage, assuring that not under his management would the reputation of the company go down.
“I will ensure that the defaulters pay or stand to be evicted. After 15 years, the allottees cannot claim that they did not have the financial will to pay the company. As at the time when the interest was 4 percent, today it has risen to over 35 percent and is causing the company a huge amount of service annually,” he said.
He, therefore, directed the publication of the names of the defaulters billed for foreclosure from next week, saying the company has initiated the court’s order, adding that no leniency will be granted to any defaulting allottee.
Speaking on behalf of North Bank Estate, the Chairman, Mr. Victor Asobo and Joseph Ornguga Antyam appealed for more time for defaulters of the estate to resume payment.
They highlighted economic difficulties and appealed for a grace period of four months to enable them to make up the payment.
At the Nyiman Estate, the Chairman, Mr. Raphael Abo, while appreciating the BIPC for giving the allottees ample time to pay, appealed for more time.
He said the EXCO will communicate the decision of the company to members who are yet to complete their payment with a view of getting them to comply with the directive.
Recall that the BIPC Evergreen Estates, North Bank and Nyiman, within Makurdi, the state capital, were initiated in 2007 to provide urban shelter for low-income earners through the federal mortgage bank and the Benue Investment and Property Company Limited (BIPC).
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