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E-Money addresses reports of police probe over N1.2bn dispute with Lagos firm

Music executive Emeka Okonkwo, popularly known as E-Money has refuted claims that the police declared him wanted in connection with a N1.2 billion dispute with Autocrop Limited.

Reports had it that a Lagos-based Vehicle dealing company, Autocorp Limited, had petitioned the Force Criminal Investigation Department (FCID) Annex, Alagbon, over an alleged ₦1.21 billion dispute with E-Money.

In a petition to the FCID, Raymond Olaiya, the lawyer representing the vehicle-dealing company, described the monetary dispute involving the company and the businessman as one of “stealing, fraudulent conversion, and criminal sale.”

According to the petition, the company stated that it contracted Okonkwo’s company, Emy Cargo and Shipping Limited, to clear eight vehicles from the Nigerian Ports at Apapa between 2020 and 2021.

It said the vehicles comprised six TXL Prado and two Lexus jeeps valued at N1.2 billion, adding that despite Okonkwo clearing the vehicles, the company had yet to take delivery of them to date.

The company claimed that the eight Four-Wheel Drive jeeps had never been delivered since Emy Cargo cleared them from the Nigerian Ports.

Reacting to the claim in an interview with The Punch, E-money said the allegation was not true but confirmed that a business transaction indeed happened between both parties.

 In a statement released on Thursday, May 9, the businessman said,

“Our attention has been drawn to the Punch Newspaper publication affecting the person of E-Money, the CEO of Emy Cargo & Shipping Services Limited. The pieces of information contained in the said publication are misleading and do not represent the facts of the matter.

“Unequivocally, the news alleging a Police probe into a N1.2 billion dispute between E-Money and Autocorp Limited is not an accurate representation of facts. The Nigeria Police is investigating a report by Autocorp Limited against Emy Cargo & Shipping Services Limited on a business transaction regarding the clearing of vehicles in the year 2019/2020.’

“Unreservedly, E-money and Emy Cargo & Shipping Services Limited have visited the Police as a law-abiding citizen to give accurate details of the business dealings.

Accordingly, we urge the public to refrain from spreading unfounded rumors and sensationalized information. The truth of the situation is far more nuanced and does not warrant the sensationalism portrayed in recent reports. Thank you. #itistoolatetofailamen.”

Meanwhile, the spokesperson for the FCID Annex, Alagbon, Aminat Mayegun, confirmed to the Punch that E-money had been under investigation.

She said, “Yes, we are investigating the matter concerning (Okonkwo). The matter is about the conversion, and it is being investigated by the Anti-Human Trafficking Unit of the Force.  The case is under investigation; we have extended an invitation to him and he has acknowledged the investigation.

“Based on the petition, he was once invited and he came. And now, we have to call both parties involved for another discussion and a date has been scheduled for it.”

Netizens React:

udee_tha_ikoto_master_: “E-money my brother is a man of integrity yes I said that . While I was living with him , he would always tell me ” 

U-DEE whatever you do in this life make sure you have a clear-cut integrity.” @warlord__x: “Bro this one go make u trend no mind them.” 

@iamnaniboi: “It’s still BIG FISH season. No dulling. Ahead ahead.” 

@iam_emerison1: “Gone too far to fail again nwannem…. they can’t stop or kill your personality.” 

@ifyokochaigbeare: “I stand by you sir @iam_emoney1.” 

amina_daniels37: “God got your back, you carry grace,you carry fire,your carry glory and you come carry supernatural holy ghost @iam_emoney1.” 

@abutex_construction_companyltd: “@punchnewspapers try to be verifying news, this is unprofessional.” 

@djsilenttalkative: “They are too small for you Sir… If them need loan Mk them come out plain and tell you.” 

By Ezinne Okorie.

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