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The Benue Investment and Property Company Limited (BIPC) has intensified its asset recovery drive with the successful reclamation of two additional properties located along George Akume Way in Makurdi, the state capital.
The operation, carried out on Tuesday, January 21, 2026, forms part of the company’s ongoing verification and recovery exercise targeting misappropriated or underutilised government assets. According to BIPIC officials, the properties in question were acquired in 2016 using funds that had been diverted from the company, and were traced through a comprehensive asset audit and collaboration with the Economic and Financial Crimes Commission (EFCC).
Speaking at the scene while the properties were being handed over, the Group Managing Director of BIPIC, Dr. Raymond Asemakakaha, CFA, explained that the recovery followed due process, including thorough documentation checks and physical verification of the assets. He emphasised that BIPIC is operating strictly within the law and in full alignment with the recovery initiative approved by Governor of Benue State, Rev. Fr. Dr. Hyacinth Iormem Alia.
Dr. Asemakakaha stressed that allowing public funds used to acquire government properties to remain in private hands or to be lost through administrative negligence runs counter to the interest of the state. He warned that government assets currently under lease but not being put to optimal or productive use will face revocation, as the overriding priority of the state government is to ensure such properties are developed for the economic benefit of the people of Benue.
The BIPIC chief further revealed that more recoveries are expected in the coming weeks as the company continues auditing its asset portfolio across the state, acting in accordance with Edict No. 10 of 1995, which established the framework for the management and protection of state investments.
He assured that all recovered properties will be properly documented, secured, and redeployed for productive purposes in line with BIPIC’s core mandate to drive investment, generate revenue, and support economic development for the state.
Officials of BIPIC, accompanied by security personnel, were observed taking formal possession of the properties, marking them clearly as recovered government assets. The exercise, Dr. Asemakakaha noted, is a key component of wider reforms aimed at repositioning BIPIC for greater efficiency, transparency, improved service delivery, and the safeguarding of public investments for the benefit of Benue citizens.
The latest recoveries signal the state government’s determination to protect and maximise the value of its assets, sending a strong message to lessees and other stakeholders that idle or misused government properties will no longer be tolerated.
