Stella Dimoko Korkus.com: Ex-Militant Tompolo Sued By Unity Bank Over N5.3b Debt

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Monday, 13 March 2017

Ex-Militant Tompolo Sued By Unity Bank Over N5.3b Debt

Unity Bank Plc has sued a limited liability company, Muhaabix Global Services, owned a former Niger Delta militant, Government Ekpemupolo (aka Tompolo), at a Federal High Court in Lagos to recover a debt of N5,320,953,095.40.


A statement of claim filed by a Lagos-based lawyer, Oluwafemi Atoyebi, Unity Bank alleged that the board of Tompolo's company had, on 14th November 2014, voted to authorize Muhaabix Global Services Limited to borrow the sums of Euro 8,382,921.00, Euro 282,924.006 and N500,000,000 from Unity Bank Plc to fund letters of credit for the importation of the two dredgers and their spare parts. The suit states that Unity Bank granted the ex- militant's firm all the requested credit.

In addition, Tompolo's company also undertook to deposit the balance of its contractual earnings from NIMASA over the phase 1 and 2 dredging and sand filling contracts with Unity Bank.

The bank further stated that it had suffered huge financial losses and damages as a result of Tompolo's company's violation of the loan agreements.

The presiding judge, Oluremi Oguntoyinbo, has adjourned the case till April 12, 2017, for a mention.

Edited from Sahara reporters


28 comments:

Miss Ess said...

Na today?

Sharon Aminu said...

Lol

Mao Akuh said...

Nawa

code009 said...

Ha this one is too much na

Tessbaby said...

This is just d beggining.

Chioma Chichi Brown said...

Has he honored the court order hanging on his neck?

happiness said...

Hmmmmn

jelly said...

Hmmm

Anonymous said...

Infact I pray they dont get thier money back. Stupid naija banks wont give loans to entrepreneurs. They'll be doling out loans to these nuisances and their likes..

Midas Events Awka (Cakes, Decorations, Small Chops & Rentals) 08037027356 said...

The figures no be here

Jennah said...

Why on earth will unity bank grants loan to a company that has a pep as one of their management such about of loan especially when the person has a questionable character

Ekaette said...

I tell you!

Ekaette said...

Unity bank e don be for una, give ordinary people loan una no gree.

missylynn said...

Una never start with this Tompolo man

Anonymous said...

Can you Imagine Unity bank giving loaf when they ain't capable or paying rent on the building the are occupying, they are not just serious

Anonymous said...

I am with you on this. I hope they don't get their money back. The bidding entrepreneurs that need it, they won't give but instead it's to the likes of Tompolo who use this money carelessly and usually to find their lifestyle that they give.

AGELESS T said...

The money has entered konga.

AGELESS T said...

Unprofessionalism at its peak. They should just write it off.

Isaacson said...

Wow that's a huge sum ooo...tompolo what you gon do now sir?

Anonymous said...

My mind went to Man City when you mentioned Pep............"Perp" you mean!

AGELESS T said...

With that word 'PEP', you must be a banker, or at least a finance proffesional. An experienced one for that matter. Am I right?

AGELESS T said...

My dear, nothing!

AGELESS T said...

PEP means : Politically Exposed Persons. They are usually red flags for any financial Institutions and corporate bodies at large.

It means your dealings with them is VERY risky. Unity Bank knew this, yet they gave such a huge amount in FOREIGN currency makes them quack, simple!

Anonymous said...

Can you imagine? Such a pep? The staff that gave this guy money, the people that signed are all rogues. A politically exposed person(pep) like tompolo, a tug an 'Alaye' you carry this whole amount and gave? Unto wetin naa, you want to make money? These people have exposed their unprofessionalism.

Anonymous said...

That's why I love Stanbic bank, plc they don't want customers as this or govt dealing cos this kind of transaction can crumble a bank

Anonymous said...

Yet they won't give the simple, honest common man even as little as 2m to start up a small business that would feed him and feed others.
We need soul searching in this country

Anonymous said...

Banks will not give money to people doing honest businesses. Even when they do, its with extremely high interest rates. Am sure there was even no collateral on this loan. That money is as good as gone forever!

Anonymous said...

What collateral did the company submit for the loan? For honest businesses to get loan, people sometimes use the papers to their fathers house. In this case, they obviously took none which is why they are headed to court. It's usually a scam between the top bank officials that approve the loan and the beneficiary of the loan. Investigate the bankers and you will see that a chunk of that money ended in their pockets...last last, the bank will just sack them but they already have their loot stashed away which is usually more than they can ever make even if they spend all their lifetime working for the bank.

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