BIPC Reiterates Call For Dangote To Honor 2006 Tribunal Ruling, Threatens To Expose Collaborators

BIPC MD, Dr Raymond Asemakaha (left), BIPC secretary, Mr Ioryoosu Josephat (right) during the press briefing, Friday

The Managing Director of Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, has once again urged the Dangote Group to comply with the 2006 ruling of the Investment and Securities Tribunal, which ruled in favor of BIPC.

Speaking to journalists in his office on Friday, Dr. Asemakaha lamented that despite the ruling, Dangote was yet to fulfill the stipulated conditions. He further warned that BIPC would not hesitate to expose Benue government officials who allegedly collaborated with Dangote in 2006 to negotiate an out-of-court settlement but failed to ensure the implementation of the judgment.

Although Asemakaha did not explicitly name the Benue State governor at the time, it is widely known that George Akume, the current Secretary to the Government of the Federation, held the position in 2006.

Addressing the media, Dr. Asemakaha emphasized that BIPC remains steadfast in its pursuit of justice.

“At our last press briefing, we discussed the 10% equity that BIPC still holds with Dangote. We promised to keep updating the press and the people of Benue State. Today, we want to inform you that we have taken legal steps to enforce the 2006 tribunal ruling in our favor. Our legal team is actively pursuing this case, and we will not relent until justice is served,” Asemakaha vowed.

He went further to outline the key aspects of the judgment that remain unfulfilled including equity stake, board representation, company branding, local participation as well as environmental and corporate responsibility.

According to him, BIPC is entitled to a 10% equity share that has not been executed, adding that the company was supposed to have a Deputy Managing Director (DMD) position on the board of Benue Cement Company (BCC), which has not been honored.

“The court ruled that Dangote should not alter the name and logo of the company, yet this directive was ignored. The judgment mandated the inclusion of Benue State representatives on the board and the implementation of policies to support local entrepreneurs, both of which have not been fulfilled. The ruling required a concrete corporate policy on environmental management in collaboration with the Benue State government, which remains unimplemented”, he revealed.

Dr. Asemakaha accused top government officials of benefiting financially from the privatization process while failing to protect the interests of the state.

“Some officials accepted funds and properties during the privatization process and are still benefiting from them today. If they do not intervene and compel Dangote to honor the agreement within the next seven days, we will publicly release their names and take legal action against them,” he declared.

He reaffirmed that BIPC’s settlement terms remain unchanged:

According to him, the 10% equity stake must be restored. Two board positions must be given to Benue State representatives and BIPC must be recognized as a key stakeholder in the management structure.

“We will not compromise on these demands. We are not interested in any form of settlement that deviates from these conditions,” he asserted.

When asked about BIPC’s next course of action if Dangote and the alleged collaborators fail to comply, Asemakaha stated that legal proceedings would continue.

“If our demands are not met, our legal team will escalate the matter. Dangote voluntarily agreed to an out-of-court settlement in 2006 and signed binding terms. He was not coerced. We have sent multiple notifications, and if he continues to ignore them, we will return to court and push for full enforcement of the ruling.”

BIPC’s Secretary, Mr. Ioryoosu Josephat, reiterated that the company would follow due process in reclaiming any properties or assets that were wrongfully taken.

“We are a law-abiding company, and we will take all necessary legal steps, including involving the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) if necessary,” Josephat said.

Dr. Asemakaha vowed to expose those who allegedly compromised the state’s interests.

“By next week, we will formally petition the EFCC to investigate those involved. We are not afraid of anyone, regardless of their position. The people of Benue State deserve justice, and we will not rest until we reclaim what is rightfully ours.”

He criticized those who have dismissed BIPC’s efforts and reaffirmed his commitment to ensuring economic justice for Benue State.

“This fight is not about politics; it is about doing what is right. Benue State is 49 years old, yet how many companies can employ even 100 people at once? They took away our rights, and we will not stand by while our people suffer unemployment and economic hardship. We must reclaim what belongs to us,” Asemakaha assured with lamentation.