The management of Benue Investment and Property Company Limited (BIPC) has expressed its gratitude to the Executive Governor of Benue State, His Excellency Rev. Fr. Dr. Hyacinth Iormem Alia, for approving funds for the payment of gratuities to former staff who left the company between 2019 and 2024.
In a statement, the Managing Director of BIPC, Dr. Raymond Asemakaha, said the approved amount will help reduce the company’s current liability of 4.2 billion naira, which includes outstanding TAX, VAT, GRATIVITY, ITF, and NSITF payments.
“We are grateful to His Excellency for his commitment to good governance and for approving these much-needed funds for the former staff. This will go a long way in addressing their financial obligations in a more stable manner,” Dr. Asemakaha said.
Dr. Asemakaha further assured that BIPC is currently formulating new policies and reforms to ensure that only qualified professionals with the requisite financial knowledge are appointed to head the company going forward.
“Our goal is to rebuild public trust in BIPC and ensure that it operates efficiently and transparently to serve the people of Benue State,” the Managing Director revealed.
The approval of the gratuity is a positive step in addressing the financial challenges faced by BIPC and also an assurance that the company will, at the end of the year, resume payment of dividends to the state government that were not paid from 2016 to date.
