Benue commission of inquiry probes lease, sale of companies

The Benue State Commission of Inquiry into the sale government of owned companies has asked the Ministry of Industries, Trade, and Investment to submit documents of government properties under its jurisdiction.

The Commission gave this order during its sitting on Wednesday in Makurdi.

The Permanent Secretary, Acting Director of Industries, and the Director of Trade in the Benue State Ministry of Industry, Trade and Investment appeared before the Commission to give account of the affairs of the Ministry from 2015 to 2023.

Out of 13 Benue State-owned companies submitted by the Department of Industries only the Benue Plastic Company was found to be functional.

It was discovered that the company was leased to Oracle Business Limited in 2013 for 15 years with a two-year Moratorium.

Oracle Business however breached the agreement after making the first payment of N40 million which they were to pay up-front before taking over the company.

Explaining the lease agreement further, the acting Director of industries, Mrs Mbamilin Yandev said in 2022 Oracle Business Limited through a letter forwarded expenses incurred for the purchase of machines and structural development to the tune of N3.7 billion to the Ministry requesting it to convert the money into the lease fee.

She said the Ministry forwarded the letter to the State EXCO for consideration and the exco approved the extension of the lease agreement for thirty years to expire in 2058.

Also, throwing more light into the sale/lease of some of the companies, the Director of Trade, Mr Francis Terkura Kurum told the Commission that most of the companies or landed property leased out or sold were done without the knowledge of the Department of Trade of the Ministry.

He said as Director of Trade in the Ministry, no one consulted him before the sales.

The Benue State liaison officers in Kaduna State and FCT were also invited to throw more light on the sales of government property within their jurisdiction.