Firm Tackles Sterling Bank, Edo University Over Breach of N481million Contract
SaharaReporters learnt that the contract was to build a 150-room hostel on the campus, and was a joint agreement between the firm and Sterling Bank.
by SaharaReporters, New York
Jan 27, 2021
A firm and contractor, Campus Alive Initiative Limited, has revealed how Sterling Bank, Asaba Branch, Delta State, and Edo State University, Iyamho, breached a N481million contract which binds them.
SaharaReporters learnt that the contract was to build a 150-room hostel on the campus, and was a joint agreement between the firm and Sterling Bank.
However, after the contract had been executed at N481,828,836.10, two other parties paid the firm N439,676,615.63, leaving a deficit of N42,152,220.47.