Benue Govt threatens Dangote Cement, gives 7 days ultimatum to enforce term of settlement 

From Attah Ede, Makurdi 

The management of Benue Investment and Property Company (BIPC) Limited, on Friday,gave seven days to Dangote Cement Company and other top state Government officials, they identified as collaborators, to enforce the terms of settlement or be ready to face. prosecution.

The company vowed not to rest on its oars until the state gets justice on its equity holdings in Dangote Cement Company PLC.

The managing director of BIPC Raymond Asemakaha  stated this at a press conference in Makurdi, Friday.

He lamented that despite letter by  one of their External Solicitors to the Management of Dangote Industries, non of their demands, especially the payment of accrued dividend and other entitlements amounting to over N65.870 billion as at 1st August 2024, have been complied with.

Recall that the Managing Director, Dr. Raymond Asemakaha, during a press conference last week, disclosed that the Dangote Cement Company PLC has refused to enforce the terms of settlement at the court reached between the company and the state government over its stakes in the former Benue Cement Company (BCC) in 2005.

He stated that the terms include “That BCC ensure that Benue State/BIPC retains at least 10% equity holding in the company. 

“That apart from the two Board seats in BCC Plc, Benue State be given the position of the Deputy Managing Director as well as two slots out of the five top management positions.” 

He said the court also ruled that there should also be a company policy to engage young qualified Benue State indigenes in the services of the Company. 

“That the Cement Sale and Distribution Policy of the Company shall be structured so as to promote and encourage entrepreneurship in Benue State and the catchment area; and in this regard, special emphasis be laid on the immediate community to attract participation in the business of cement distribution. 

“That the Company shall also evolve a policy to encourage our State teaming entrepreneurs to participate in other ancillary commercial activities of the Company like cement transportation/haulage and supply services. 

“That a definite corporate policy on environmental hazard management and control be articulated by the Company in line with the industrial standard and practice. 

“That Dangote undertakes to preserve the present corporate name of the Company (Benue Cement Company Plc) and its logo shall not be changed now or in the future, for whatever reason, except with proper consultation with the Government should need arise.” 

The MD said “We are aware that top government officials during that administration took money and some took properties which they are still living on. 

“We would make their names available if they do not call Dangote to settle with us in the next seven days.

“If that is not done, we would make their names available and do everything possible to prosecute them. We know what happened and we have documented evidence to ensure that the Benue people have justice.”

Asemakaha said “Our terms of settlement still remains that the 10 percent must be given to us, the two directors must be given to the Benue citizens and BIPC must be on the board as DMD. We are not shifting grounds, we can’t collect anything less.”

“Benue Cement was one of the things that were growing our economy but they came and took it from us and the enemies of the state, that are our brothers, took some funds from them and refused to execute it. We will prosecute and we must take back what belongs to Benue state.

“We have already taken the case to the Security and Investment Tribunal, if they don’t settle with BIPC, we will not stop. 

Bipc is a law abiding company and what we are asking is what we got from the court. If we don’t get the properties, we would report back to court and also petition the EFCC and ICPC of need be.”