CAN opposes Jaiz Islamic Banks reconstruction of Jos Terminus market

The Christian Association of Nigeria (CAN) in Plateau State and a coalition of Plateau indigenous groups and other related organisations have called for the suspension of proposed work at the Jos Main Market, (Terminus), for what they described as ambiguity in the contractual agreement.

The group made the call in a meeting convened by the Chairman of the Christian Association of Nigeria (CAN) in Plateau, Rev. Fr. Polycarp Lubo on Monday, at Government House, Jos, Plateau State. 

The CAN chairman conveyed the stakeholders’ position at a news conference at the end of a meeting between the groups and State executives of the Plateau Government. According to the association, the agreement is between the State government and the financier of the reconstruction Jaiz Bank Plc.

Recall that the Plateau Executive Council approved the reconstruction of the market gutted by fire in 2002 through a public-private partnership with Jaiz Bank Plc. The reconstruction is estimated to cost N9.4 billion for three phases of the market.

The CAN official said that he convened the meeting following the tension in the State upon information that the State Government had mortgaged the lives and property of its youths for 40 years through its agreement. According to him, the groups were aggrieved about not being consulted as critical stakeholders before the agreement on the market reconstruction. He advised that the reconstruction should be put on hold until proper consultation would be done.

Speaking on behalf of the government, the State’s Attorney-General, Chrysanthus Ahmadu, expressed concern that the Plateau people had been misinformed about the reconstruction contract. He explained that the 40-year period of the sub-lease is for the buyers to help them to recoup from buying the shops.

The agreement is that the allottees will be granted a 40-year sub-lease by the Jos Main Market Authority; at the end of 40 years, the property reverts to the market authority. So, if you are buying a shop, know that you are buying it for 40 years. It is not Jaiz Bank that is to be given 40 years”, he explained.

He further said that the State government was still discussing with the bank as no conclusion had been reached, but said an understanding was reached on how the project would be executed. Jaiz Bank Plc. is just a financier; it is putting money for the contractor to do the job; and at the end of it, they will sell 60% while the government will sell 40 percent, he stated.

He assured the Plateau people of fairness and equity in the sale of the shops, saying even the 60 percent to be sold by the bank would be supervised by the government for fairness, adding that the government had listened to their concerns and would go back for further consultations to best serve the interest of the people.

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