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NICIL has described as misleading a story carried under the headline “Lysons moves to block NICIL from transferring property to National Hardware”. The story under this headline appeared on the front page of Kaieteur News (May 16, 2010).“Contrary to the impression created by the article, National Hardware’s occupancy of the plot of land in question is not the result of any actions by NICIL’s part. Instead, National Hardware’s presence on the land was the result of Lyson’s unlawfully renting the plot to National Hardware at an amount reported to be US$4,500 per month at a time when Lyson’s was neither authorized to sublet the plot, nor was it paying its peppercorn rent of G$10,200 per annum to Government.“It is understood that National Hardware paid a total of $60 million to Lyson’s over the years since August 2005,” NICIL stated.The statement continued that NICIL’s actions in the matter are aimed solely at ensuring that whatever rent is paid on the plot is received by the rightful owners, NICIL,NFL Jerseys China, and not Lyson’s who had no authority to lease the land to National Hardware.“It should also be clarified that NICIL’s actions are not aimed at selling the land to National Hardware, but merely to transfer the tenancy agreement to the rightful owner.”NICIL indicated that since 1990, as owner of some lands and buildings found in the Ruimveldt Industrial Estate, it has attempted to regularize the occupation of these properties by the various occupants offering them the opportunity to either buy or rent.The entity further noted that being cognizant of the fact that these properties were occupied as early as the 1960’s at peppercorn rentals with developmental works being done by the various occupiers, the sale and rental prices offered were determined by the Government’s Valuation Office.NICIL said that in 2002, the sales and rental prices were reduced following objections raised by the various tenant companies, and that it has successfully completed the sale of three Ruimveldt Industrial Estate properties since assuming ownership.Lysons Knitwear Industries Ltd. was one such occupier whose occupation of Lots 1 & 2 Ruimveldt Industrial Estate has not been without incident or disregard for NICIL’s ownership rights, NICIL stated.“Despite many attempts by NICIL from the 1990’s to 2007, Lysons has failed and/or neglected and/or refused to regularize its occupancy of Lots 1-2 Ruimveldt Industrial Estate by either purchase or lease,” it added.Between 1996 and 2001 records reflect that Lysons paid its peppercorn annual rent of $10,200 for 1.735 acres of land, with the said payments ceasing after 2001. Given the nonpayment of rent, a notice to quit was issued to Lysons Knitwear Industries Ltd., which was never been objected to, NICIL stated.“It must, therefore be emphasized that National Hardware has occupied and paid rent on the land in question since August 2005.  NICIL’s actions are intended to ensure that National Hardware’s tenancy agreement is executed with the rightful owner of the land, NICIL instead of Lyson’s, and are not intended in any way to sell the land to National Hardware.”