Innoson Vehicles Sues Imo State Government over N2.5B Debt
Nigeria’s indigenous vehicle manufacturing company, Innoson Vehicles Manufacturing (IVM) has filed an over N2.5B lawsuit against the Imo State Government under the headship of Senator Hope Uzodinma over its failure to pay or service the debt of N2,547,666,435.00 (Two Billion, Five Hundred and Forty-Seven Million, Six Hundred and Sixty-Six Thousand, Four Hundred and Thirty-Five Naira) being the purchase price of the various IVM Vehicles including their parts which IVM manufactured, sold and delivered to the State Government but Imo State Governor or its government has refused and failed to pay same despite repeated demands and appeals.
The lawsuit which was filed by Prof Joseph N Mbadugha, SAN, FCPA of McCarthy Mbadugha & Co, the counsel to Innoson Vehicles coming against repeated attempts made by the Chairman of Innoson Vehicles Manufacturing, Chief Dr. Innocent Chukwuma OFR, to the Governor urging him to pay the company on the vehicles sold, and delivered to the State Government.
For the avoidance of doubt, sometimes in April 2021, His Excellency, the Executive Governor of Imo State, Senator Hope Uzodinma invited the Chairman/CEO of Innoson Vehicles, Chief Dr. Innocent Chukwuma to the Imo State Government House, Owerri where they discussed and agreed that Innoson Vehicles would sell and supply various specifications of its brand of Vehicles to the State Government which includes, inter alia;
1. 70 units of Innoson 5 Seater double cabin pick-up (IVM Carrier) 4WD
2. 10 units of Innoson 5- Seater double cabin military pick up (IVM G12)
3. 10 units of Innoson 5 seater single cabin military pick-up (IVM G12)
4. 100 units of a complete siren with public addressing system, revolving light, and street police light;
5. 2 Units of IVM Ambulance Vehicles
6. 20 Units of IVM G12 MS11
7. 20 sets of B. Canopy
The above vehicles which were valued at over N2.5B ($6.3M) were supplied in good faith to the Imo State Government based on an understanding with the Governor which arose after a special request that Innoson Vehicles grant the State the favor of paying for the vehicles after deliveries to them and which request was granted and honored.
The special and privilege request granted to the Governor turned into a nightmare for Innoson Vehicles and Its Chairman after Chief Chukwuma had at various times through several visits, phone calls, messages, and submission of letters requesting payment appealed to the Governor and his conscience to make total payments or set up a payment plan that will offset the debt.
The inability of the State Government to pay the aforesaid purchase price of the vehicles supplied has resulted in Innoson Vehicles having difficulties in fulfilling its loan repayment obligations to Keystone Bank Limited and Bank of Industry. These Banks granted their credit facilities at the rate of 10% interest and other fees therein. More so, it has led to the loss of profit arising therefrom and the accruing interest.
It is also interesting to note that as of July 27th, 2022, the over N2.5B worth of vehicles supplied to Imo State Government in April 2021 under the leadership of Hope Uzodinma with a dollar value of $6.3M is now worth $3.8M. Even if the money is paid today, the value of the money has depreciated by over 40%.
It is therefore based on this premise that Innoson Vehicle Manufacturing Company Ltd has begun the process of recovering its debts against the Imo State Government by slamming a lawsuit of over N2.5B with an interest rate of 10% on the entirety of the sum claimed at the High Court of Anambra State, Nnewi Division.
Cornel Osigwe
Head Corporate Communications and Affairs
IVM Innoson Group.
Dr. Abigail Adesina Olagbaye, CEO Desigo Tourism Development and Facility Management Company Ltd and founder, Sayari Dunia Sustainable Tourism Foundation, a seasoned tourism practitioner with 23 years of experience (out of which 21 years have been in Tourism), has announced her candidacy for President of the Association of Tourism Practitioners of Nigeria (ATPN), the oldest and premier tourism trade Association in Nigeria.
With a proven track record of driving innovation and sustainable growth, Dr. Olagbaye is poised to transform Nigeria’s tourism landscape.
” Her vision is to re-position ATPN as the leading voice for Nigeria’s tourism development,” Dr. Olagbaye stated. “I’m committed to empowering our members with the training, resources, and networking opportunities they need to excel in their careers and elevate industry standards.”
Dr. Olagbaye’s campaign focuses on five key objectives:
– Strengthening Industry Partnerships: Fostering collaborations and alliances that drive growth and development.
– Capacity Building: Providing training, resources and opportunities to enhance professionalism.
– Advocacy: Amplifying the voice of tourism practitioners in Nigeria and beyond.
– Tourism Promotion: Showcasing Nigeria’s hidden gems both domestically and internationally.
– Improved Member Benefits: Enhancing the overall experience for ATPN members.
Additional initiatives to consider include:
– Faith-based International Conference Tourism: Tapping into the MICE potential of faith-based tourism.
– Medical Tourism: Promoting Nigeria as a hub for medical excellence.
– Sports Tourism: Leveraging sports to drive tourism growth.
– Language Training: Enhancing language skills to improve tourist experiences.
– Youth Tourism: creating opportunities for youths to be actively engaged in Tourism leveraging their potentials, talents and energies and enabling them to benefit from the socio-economic opportunities that tourism offers.
– Agro Tourism: Develop agro-tourism as a sub-sector of Tourism through partnerships and collaboration with the ministry of agriculture to ensure regulatory support, international organisations for cross pollination of ideas and knowledge transfer and capacity building, encourage our members to organise more farm stays, rural tours, food tourism events for more authentic experiences. Advocate for infrastructural development for rural roads and other amenities. Collaborate with locals for sustainability and inclusion.
To further enhance Nigeria’s tourism industry, Dr. Olagbaye plans to create robust social media platforms for the association. This will enable people at home and abroad to access tourism companies in Nigeria with international standard websites and social media focusing on major sites.Social media being an essential tool for promoting tourism.
As the pioneer of initiatives like Africa Tourism Climate Action Forum ATCAF and Africa Tourism Day, a nouveaux initiative in Africa which she started in 2020 in collaboration with the African Tourism Board, now in its 5th edition, Dr. Olagbaye has demonstrated her passion for sustainable tourism practices and her ability to drive meaningful change. “I invite fellow tourism practitioners to join me in transforming Nigeria’s tourism landscape,” she concluded.
In a move that underscores her commitment to excellence, Sade Balogun, the mastermind behind Redbrick Homes International Limited and Amen City Ltd, has introduced TIARA Estates and Amen Estate Phase 3, expanding the renowned Amen City in a big way!
Situated in the picturesque Ibeju-Lekki area, Amen City has become synonymous with luxury and elegance. The launch of TIARA and TIARA 2.0 by Amen City Ltd soon after Amen Estate Phase 3 is set to elevate this community to new heights.
With its refined homes and superior amenities, the TIARA series embodies royalty and opulence. Amen Phase 3 enhances the living experience with modern architecture and top-tier facilities.
A nearby hospital at Amen Estate Phase 2 offers swift healthcare access, contributing to residents’ peace of mind. This proximity to medical facilities is especially important in emergencies, ensuring that help is always close by.
A large supermarket within the estate provides convenience for everyday shopping, eliminating the need for long trips to distant markets. The presence of excellent schools nearby ensures quality education for children, making it an ideal location for families. The coastal road that reduces travel time to Victoria Island to under 40 minutes makes Amen City a practical choice for professionals who need to commute to the city.
The estate 24-hour light supply from a dedicated turbine engine ensures uninterrupted power, which is a significant benefit for those seeking reliable energy solutions.
Sade Balogun’s innovative vision has transformed Amen City into a model of luxury living and community development. This expansion marks another milestone in her illustrious career, reinforcing Amen City’s status as a premier investment destination. With her ability to foresee market trends and deliver projects that exceed expectations, Sade Balogun continues to set new standards in Nigerian real estate.
In a world where the bonds of love and faith should transcend earthly judgments, Alhaja Enitanwa Muibat Lanre Shittu finds herself battling not only for justice but for the affirmation of her dignity and place within her late husband’s legacy.
Alhaja Enitanwa, the widow of renowned business mogul Lanre Shittu, faces an overwhelming injustice as she appeals a ruling by the Ifako Ijaiye Customary Court. This court dismissed her case by claiming it lacked the jurisdiction to do so.
This judgment, for Alhaja Enitanwa, represents a painful contradiction. The Ifako Ijaiye Customary Court had been specially designated to hear cases rooted in Islamic law—a foundation of faith and tradition that defined her marriage to her beloved husband. How, then, can this same court deny its duty to preside over the case she brings forward, a case so deeply tied to her faith and rightful place within her family?
At the heart of her appeal is a plea for recognition, not only for herself but for every Muslim woman whose rights are meant to be upheld by the legal protections guaranteed under the 1999 Constitution. Her counsel, Barrister Kayode Ademiluyi, stresses that this Constitution embraces Sharia law as a personal and protected path for Muslims, enshrining the rights of individuals like Alhaja Enitanwa to have their marital bonds honored by the law.
The Customary Court Law of Lagos State further cements these rights. By law, designated courts are empowered to adjudicate in matters of Islamic law—marriage, divorce, and family bonds. Yet, for reasons unknown, the Ifako Ijaiye Customary Court has chosen to ignore this mandate, casting aside the deeply personal matter Alhaja Enitanwa brought to its doors.
She seeks more than validation; she seeks justice. For Alhaja Enitanwa, this appeal is an urgent call for the court to correct a decision that, in its oversight, has left her in limbo, questioning the very foundations of her marriage and her place within a family she holds dear.
Her appeal will journey through the Customary Court of Appeal, a court of immense authority, with the power to oversee customary law matters. Here, the court will have the solemn duty to interpret her case in the spirit of fairness, upholding the principles of religious and personal freedoms granted under Nigerian law. Alhaja Enitanwa’s case is not just about her suffering but about restoring the dignity of every Muslim woman who looks to the law to honour her faith and protect her rights.
Let us remember that at the heart of this case lies a woman—a mother, a widow—whose only desire is to protect the bond she shared with her late husband and to honour the life they built together under Islamic law. Alhaja Enitanwa’s struggle resonates far beyond her plight; it is a struggle for justice, for the rights of Muslim women, and for the values enshrined in the law.