“E-Money Under Police Investigation Amid N1.2 Billion Dispute” – Source

The Chief Executive Officer of Emy Cargo and Shipping Services Limited, Emeka Okonkwo, popularly known as E-Money, is currently under investigation at the Force Criminal Investigation Department Annex, Alagbon, over an alleged N1,209,200,000 dispute with Autocorp Limited, a vehicle dealing company based in Lagos State.

According to a police source who preferred anonymity, Okonkwo and the aggrieved party have been summoned for questioning, with further meetings scheduled to delve into the case.

In an effort to unravel the complexities surrounding the hefty sum causing discord between both parties, our correspondent engaged Patricia Iduwre, the sales manager of Autocorp Limited. Iduwre revealed that the company had engaged Okonkwo’s services to clear eight vehicles in 2020/2021, consisting of six TXL Prado and two Lexus jeeps, valued at N1,209,200,000. However, despite the vehicles being cleared by Okonkwo, Autocorp Limited has yet to take delivery of them.

Iduwre stated, “When we entrusted him with the vehicles for clearance, they were valued at N1.2 billion. Recently, he claimed to have sold the vehicles, citing an alleged debt owed by us, which is untrue.”

The company’s lawyer, Raymond Olaiya, described the dispute as involving “stealing, fraudulent conversion, and criminal sale” in a petition submitted to the FCID.

In response, Okonkwo refuted the allegations, asserting that there was a legitimate business transaction between both parties. He stated, “It is a false allegation; it is not true. There is a resolution and a business transaction between both parties.”

Aminat Mayegun, the spokesperson for the FCID Annex, Alagbon, confirmed that Okonkwo is under investigation for the matter, stating, “Yes, we are investigating the matter concerning (Okonkwo). The matter is about the conversion and it is being investigated at the Anti-Human Trafficking Unit of the Force.”

The investigation continues, with both parties summoned for further discussions.