Exclusive: E-money In A 1.2 Billion Naira Mess

Written by Adeyemi Lahanmi.

Popular business man, philanthropist and Chief Executive Officer, Emy Cargo and Shipping Services Limited, Emeka Okonkwo, aka E-Money is currently embroiled in a financial melee with an automobile company.

He is currently under investigation at the Force Criminal Investigation Department Annex, Alagbon, over an alleged N1.2 billion naira dispute with a vehicle dealing company, Autocorp Limited, in Lagos State.

Sources have revealed that both parties have been invited to the Force Criminal Investigation Department (FCID) Alagbon, Ikoyi, Lagos for questioning.

According to the sales manager of Autocorp Limited, Patricia Iduwre, the company contracted Okonkwo to clear eight vehicles in 2020/2021.

The order was to clear eight vehicles that comprised of Six TXL Prado and two Lexus jeeps valued at N1, 209,200,000 and that despite Okonkwo clearing the vehicles, the company had yet to take delivery of the cars as we speak.

Continuing, she said the company thought the vehicles were at his warehouse but found out recently that the cars has been sold by him because according to him the company (Autocorp) owes him which is not the case.

“In this business, it is after an agent supplies that you pay and he has not even supplied any of the vehicles. Our lawyer was involved and the case reported to the police.

It was during a dialogue with him (Okonkwo) that we got to know he had sold the vehicles. When the police intervened, the reason he gave for selling the vehicles was that we owed him.”

Still speaking, Patricia Iduwre stated that E-money said that the chairman of their company told him to sell the vehicles but after engaging our chairman on the claim being made, he said he never gave him such directive. To back up his claim, he said E-money should provide proof of the claim.

She added, “The police asked if he (Okonkwo) claimed to have sold the vehicles at the instance of the chairman, did he give us the money? He then said he used the money to offset debts.

“When he was asked which debt, he said my chairman asked him to use the vehicles to borrow money from the bank. But my chairman debunked that claim.

When contacted, Okonkwo refuted all the claims saying they were false but said a transaction actually took place and that he will soon give his side of his story when he is back in town.

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