E-Money Denies Fraud Allegations Amid ₦1.2 Billion Dispute With Lagos Firm

E-Money Denies Fraud Allegations Amid ₦1.2 Billion Dispute With Lagos Firm

Emeka Okonkwo, popularly known as E-Money, has refuted allegations of fraud following a petition filed by a Lagos-based vehicle dealing company, Autocorp Limited, over a ₦1.21 billion dispute.

In the petition to the Force Criminal Investigation Department (FCID) Annex, Alagbon, Raymond Olaiya, the company’s lawyer, described the monetary disagreement as involving “stealing, fraudulent conversion, and criminal sale.”.……CONTINUE READING

According to the petition, Autocorp Limited engaged Okonkwo’s company, Emy Cargo and Shipping Limited, to clear eight vehicles from the Nigerian Ports at Apapa between 2020 and 2021. These vehicles included six TXL Prado and two Lexus jeeps valued at ₦1.2 billion. However, despite clearance, the company alleged that it had not received the vehicles.

In response, E-Money stated in an interview with The Punch that while there was a business transaction between both parties, the allegation was false. He expressed readiness to address the issue in person once available.

The FCID Annex spokesperson, Aminat Mayegun, confirmed that Okonkwo was under investigation, stating that the matter was being handled by the Anti-Human Trafficking Unit. She disclosed that both parties had been invited for further discussions, with a date scheduled for the meeting.

As investigations continue, the dispute between E-Money and Autocorp Limited underscores the importance of transparency and accountability in business transactions, with both parties seeking resolution through legal channels.

Published by Caleb Alfred