The Benue Investment and Property Company (BIPC), on Tuesday announced the sack of 44 workers it claimed were redundant.
Mr Alex Adum, its Managing Director, who announced this at his first accountability press briefing in Makurdi, said that their employment followed due processes, but “lacked business needs”.
According to him, the reduction in the workforce is part of an ongoing restructuring in the company, NAN reports
“All the affected staff have been redundant; I inherited a total of 204 workers, among those sacked were three Executive Directors and four General Managers.
“In 2016, BIPC had 66 staff; between 2016 and 2019, an additional 150 staff were employed,” he said.
Adums said that the company’s monthly wage bill rose to N37 million due to the number of employees.
The managing director said that he was aware of the criticisms the sack would attract, but declared that he was “doing it in good faith, and in the interest of Benue”.
He said that the company’s shares and assets had hugely depreciated due to misapplication of managerial principles.
“Previous administrations refused to apply sound managerial principles; they made the company a social service extension centre.
“They watched while the company collapsed, and left a lot of liabilities for the government to battle with,” he fumed.
Hot Nigerian Jobs [ Apply Now ]
- Latest Job Recruitment at Wema Bank Plc for Graduates
- Lagos State Independent Electoral Commission Massive Recruitment for ADHOC Staff
- INEC Recruitment 2021 for Observers
- Thomas Adewumi University Massive Recruitment for Academic and Non Academic Staff
- Massive Recruitment at the Society for Family Health
- Current Ongoing Recruitment at Gemstone Microfinance
- BEDC Electricity Plc Graduate Trainee Programme 2021
- Ekiti State Government Recruitment for Graduates
- Dangote Group Recruitment 2021 For Graduates in Nigeria
- Massive Recruitment at Rainoil Limited