Multi Million Naira Contract Scam: Doyin Okupe’s Value Trust Ltd Sues Benue State Government

The controversy surrounding the allegation of fraud levelled against the Senior Special Assistant to President Jonathan on Public Affairs, Dr Doyin Okupe took a new twist Friday when facts emerged that Value Trust Investment Limited, the company Okupe used in securing the contract from the Benue State Government had approached its lawyers to sue the state for non compliance with the provisions of the contractual agreement as well as damages caused to the person of Dr Okupe.

Allegations of contract fraud running into billions of Naira has hovered around the head of Dr Okupe, one of which is the over N300billion road construction contract awarded to Okupe’s Value Trust Investment Limited by the Benue State Government under the administration of George Akume.

According to reports, Dr Okupe varnished into thin air after collecting 40 percent of the contract sum and abandoned the road project, an allegation the Benue state government confirmed it reported to the Economic and Finacial Crimes Commission, but was not concluded despite the fact that Okupe was invited and questioned by the anti graft agency.

Ever since the report of the contract fraud hit the lime light, Okupe has been other pressure from opposition groups, particularly the Action Congress of Nigeria (ACN) who had consistently demanded that Okupe either resigns or be sacked by President Jonathan and handed over to the EFCC for prosecution, but Okupe remained defiant, claiming that the contract matter is a civil case and even threatened to sue Benue state government over the matter.

Well, it appears Okupe has finally toed that line as a statement from Festus Keyamo Chambers, legal representative to Value Trust Investment Limited owned by Okupe indicates that the company is instituting legal action against the state government.

Below is the full statement from Festus Keyamo.

ALLEGATIONS OF FRAUD AGAINST DR. DOYIN OKUPE

In the last few weeks, certain individuals and groups have raised a lot of dust concerning certain contractual

disputes involving a company Dr. Doyin Okupe (the recently appointed Senior Special Assistant to President Goodluck Jonathan on Public Affairs) has some interest and the Benue State Government.

The company in question, Value Trust Investment Ltd, has briefed us to represent it in respect of the contractual dispute. After painstakingly perusing the documents at our disposal (which documents are hereby made available for public perusal) we have come to the following irresistible conclusions, shorn of politics and its brickbats:

(i) There was no time Dr. Doyin Okupe or any of his companies took money from the Benue State Government and “vanished into thin air” as has been portrayed in many quarters. The clear evidence of this is that, by a letter dated 23rd January, 2007, the Benue State Government itself wrote and acknowledged that forty percent (40%) of the work had been executed as at that date by Value Trust Investment Ltd.

(ii) It was the Benue State Government itself that breached some parts of the contract by not fulfilling its own contractual obligations, which led to delay in performing some parts of the contract. (Fuller particulars of these breaches can be gleaned from our Statement of Claims attached herewith).

(iii) As it stands today, on a pro rata basis, our client has performed far in excess of the money it received to execute the contract. The evidence of this is certificate number 4, which was submitted by our client to the Benue State Government and in respect of which the Benue State Government has done nothing. Therefore, the money owed our client by the Benue State Government, as at today for work completed and not paid for, is the sum of N358,762,934.90 (Three Hundred and Fifty Eight Million, Seven Hundred and Sixty Two Thousand, Nine Hundred and Thirty Four Naira, Ninety Kobo).

Consequently, we have proceeded to court against the Benue State Government for recovery of the said sum, damages for breach of contract, among other sundry claims. We have taken time to attach the statement of claims to this press release together with relevant documents for the public to judge themselves, away from the politics surrounding the matter.

We are not politicians and we are not looking for votes or public applause, so we refrain from dabbling into the politics surrounding this issue but suffice it to say that we have presented the facts as we see them, and facts are sacred.

In view of the foregoing, and having brought the bare facts to the attention of everyone, we have been instructed to, without hesitation, drag anybody to court for defamation of character, who continues to make disparaging comments about our client that are not in tandem with the facts and documents concerning this matter.

Thank you.

Yours sincerely,

FESTUS KEYAMO, ESQ.

View the Documents Below

Document 0: Suit Document

Document 1:Contract Status Report

Document 2: Request for Approval of Additional Contractor

Document 3: Request to discontinue formerly appointed contractor

Document 4: Completion Certificate


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