BIPC and Ex-MD Dr. Adum Lock Horns in N104M Legal Suit.
A dramatic legal battle has been ignited between Benue Investment and Property Company Limited (BIPC) and its former Managing Director, Dr. Alex Ter Adum.
This showdown, now before the National Industrial Court, sees the company formally challenging Dr. Adum’s wrongful termination suit while also filing a counterclaim for alleged financial misconduct amounting to N104.6 million.
Dr. Adum, whose tenure as BIPC’s Managing Director lasted from August 2019 to June 2023, is seeking justice over what he claims was an unlawful termination of his appointment. His contract was scheduled to run until July 2024. In his Statement of Claim, Dr. Adum demands a sum of N158 million in compensation for the remaining 15 months of his contract. This figure includes N28.5 million for unpaid salaries and allowances, along with a N130.7 million SUV or its monetary equivalent. Additionally, he seeks N30 million for legal costs, special damages, and general damages due to the alleged wrongful termination.
In a bold legal response, BIPC, represented by counsel Nathans Gwebe Esq, has filed a counterclaim against Dr. Adum, accusing him of misappropriating company funds during his tenure. According to BIPC, Dr. Adum authorized the withdrawal of N142.4 million from the company’s account on April 17, 2023, for the purchase of official vehicles for top management. The company alleges that Dr. Adum took N65.8 million as the market value of his official vehicle, violating company procedures.
BIPC further claims that Dr. Adum received N13.7 million for an international workshop in the United States, which he failed to attend and has yet to refund. In addition, the company accuses the former MD of unlawfully taking a Toyota Hilux van (MKD 47 MT), valued at N35 million, without proper approval from the Board or management.
Disputing Salary Figures
The issue of salary entitlements is also at the heart of the legal conflict. BIPC disputes Dr. Adum’s claims regarding unpaid salaries. According to the company, Dr. Adum’s salary was structured as follows: Grade Level 14, with a gross monthly salary of N481,538.54, and a net monthly salary of N252,208.16. BIPC contends that payroll entitlements must be earned and that Dr. Adum’s claims for the disputed amounts are unfounded.
Legal Drama Unfolds. With both parties entrenched in their positions, the legal battle is poised to intensify. The case is scheduled for hearing on May 27, 2025, before Hon. Justice Isele. As the court proceedings continue, the outcome of this case could set a significant precedent for corporate governance and accountability in the public sector in Benue State.
The legal arguments and evidence that will be presented in the coming months will have far-reaching implications not only for Dr. Adum and BIPC but also for the broader issue of public sector management and oversight in the state. All eyes are now on the courtroom drama, as both sides prepare to defend their positions and seek justice.
