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

Emeka ‘E-Money‘ Okonkwo has responded to a report that he was under police probe over an alleged N1.2 billion dispute with Autocorp Limited, a vehicle dealing company in Lagos.

On Thursday, a Nigerian newspaper reported that Okonkwo, the CEO of Emy Cargo and Shipping Services Limited, was invited by the police over the issue he is having with Autocorp.

The news outlet quoted Patricia Iduwre, the sales manager of Autocorp Limited, as saying that the company contracted E-Money to clear eight vehicles between 2020 and 2021.

The newspaper wrote: “According to Iduwre, the vehicles comprised six TXL Prado and two Lexus jeeps valued at N1, 209,200,000, adding that despite Okonkwo clearing the vehicles, the company had yet to take delivery of them till date”.

But in a statement, the management of Emy Cargo & Shipping Services Limited said the report “is misleading and does not represent the facts of the matter”.

The company said the “police are not probing any N1.2 billion dispute between E-Money and Autocorp Limited”.

The statement added that the “police are only investigating a report of a business transaction regarding the clearing of vehicles in 2019/2020”.

“The pieces of information contained in the said publication are misleading and do not represent the facts of the matter,” the statement reads.

“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.”