Government Ekpemupolo, a former Niger Delta militant leader, also known as Tompolo, has been dragged to court by Union Bank of Nigeria, over an alleged N5.3 billion unpaid debt.
Union Bank sued the limited liability company, Muhaabix Global Services, owned by Mr. Ekpemupolo for an accrued unpaid debt amounting to N5,320,953,095.40.
The case filed before the Federal High Court in Lagos by the financial institution is seeking to recover the N5,320,953,095.40 debt.
In a statement of claim on behalf of the bank filed by Oluwafemi Atoyebi, a Lagos-based lawyer alleged that the former militant leader’s company on the 14th of November, 2014 voted for the authorization of Muhaabix Global Services Limited so that the company could borrow the sums of Euro 8,382,921.00, Euro 282,924.006 and N500,000,000 from Union Bank Plc.
The borrowed funds were according to report meant to fund the importation of the two dredgers and their spare parts.
The statement filed by the financial institution noted that it granted all the requested sums which Tompolo’s company demanded for the completion of a contract awarded by NIMASA.
Union Bank Plc in its suit noted that the violation of Tompolo’s company’s loan agreement with it had resulted in huge financial losses and damages to it.
The case filed before Justice Oluremi Oguntoyinbo, has been adjourned till April 12, 2017, for a mention.
Union Bank sued the limited liability company, Muhaabix Global Services, owned by Mr. Ekpemupolo for an accrued unpaid debt amounting to N5,320,953,095.40.
The case filed before the Federal High Court in Lagos by the financial institution is seeking to recover the N5,320,953,095.40 debt.
In a statement of claim on behalf of the bank filed by Oluwafemi Atoyebi, a Lagos-based lawyer alleged that the former militant leader’s company on the 14th of November, 2014 voted for the authorization of Muhaabix Global Services Limited so that the company could borrow the sums of Euro 8,382,921.00, Euro 282,924.006 and N500,000,000 from Union Bank Plc.
The borrowed funds were according to report meant to fund the importation of the two dredgers and their spare parts.
The statement filed by the financial institution noted that it granted all the requested sums which Tompolo’s company demanded for the completion of a contract awarded by NIMASA.
Union Bank Plc in its suit noted that the violation of Tompolo’s company’s loan agreement with it had resulted in huge financial losses and damages to it.
The case filed before Justice Oluremi Oguntoyinbo, has been adjourned till April 12, 2017, for a mention.
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