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. Apart from the unsettled claims, the firm is also alleging that some criminals, believed to have insiders in the university, stole some of its building materials, frustrating the project altogether. Speaking with SaharaReporters, a source in the firm, said, “Campus Alive had an agreement with Sterling Bank to build a hostel for Edo University; the hostel is 90 per cent completed, but the bank handed over the hostel to the university without settling our claims as attached. “They (the...
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