A former militant leader, Government Ekpemupolo also known as Tompolo has been dragged to court by a financial institution in the country over unpaid debt.
The financial institution, Unity Bank Plc sued the limited liability company, Muhaabix Global Services, owned by the former Niger Delta militant 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.
Unity Bank Plc in a statement of claim 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 Unity 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.
Unity 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.