Group Petition Finance Minister Over Non-payment Of Contract Sums

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By: Mayen Etim

KADUNA, North-West, Nigeria – A group under the aegis of Forum of Agricultural Input Suppliers on the Federal Government’s Anchor Borrowers Programme from Sokoto State has petitioned the Minister of Finance over non-payment of their contract sums by the United Bank for Africa Plc (UBA). 

The forum in a petition dated 24th April, 2018, stated that the 15 companies constituting the forum were severally engaged as input suppliers in the Federal Government’s Anchor Borrowers Programme in Sokoto State under the administration of the Central Bank of Nigeria.

The forum however asked the Finance Minister to direct and prevail on CBN to proffer meaningful solution that will ensure that the affected companies are rightly, justly and expeditiously paid their money. 

The forum further stated that it has written to CBN on the issue but have not received any response four weeks after correspondence, hence, the need to write the Finance Minister for her kind intervention. 

The petition reads in part; “All the companies have fully discharged their contractual obligation thereof; however, the undesireable challenge is that payments due to some of the companies have been withheld by United Bank for Africa (UBA) PLC Sokoto State Branch, five months after taking custody of the fund for onward disbursement to the companies. 

“Also, Access Bank PLC prematurely withdrew from the programme, leaving some of the companies stranded while FCMB commenced disbursement to companies on their payment list but did not complete the process thereby excluding some companies from payment. 

“The situation is distressing and critical for the affected companies as it is jeopardising their corporate existence. We have written to CBN on the issue but have not received any response four weeks after correspondence, hence our recourse to your esteemed office for your kind intervention. 

“We humbly request your kind intervention to direct and to prevail on CBN to proffer meaningful solution that will ensure that the affected companies are rightly, justly and expeditiously paid their money due on contracts they have successfully executed under the Federal Government CBN Anchor Borrowers Programme, Sokoto State.” 

It would be recalled that, the forum had earlier petitioned the Central Bank of Nigeria (CBN) Governor on the matter. 


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