Tuesday, September 10, 2019

Wife of former governor of Ondo state,Agagu Olufunke dragged to court over unpaid N32million debt

In a bid to recover a debt of N32,136,877.25, the Asset Management Corporation of Nigeria (AMCON) has dragged Agagu Olufunke Ibidun, the wife of former Governor of Ondo state, Olusegun Agagu, before a Federal high court in Lagos, Southwest of Nigeria.

Joined as co-defendants in the debt recovery suit are the son of the former Governor, Agagu Feyisayo Opeyemi and Central Securities Clearing Systems Plc.

In a statement of claim filed before the court by Prime -Gentry Chartered Secretaries &Attorneys on behalf of the debt recovery agency, it was alleged that Agagu Feyisayo Opeyemi, who was a customer of United Bank for Africa Plc applied for a loan and was consequently granted same by virtue of a letter of offer of loan value at N6,177,600 dated 19th June, 2007 for the acquisition of UBA approved shares from the capital market or public offer.


The loan had a tenor of repayment period of 12 months and ought to have been fully repaid by 18th June, 2008.

However, the loan remained unpaid and was accordingly categorized as non performing loan.
AMCON avers that it is entitled to judgement against Agagu Feyisayo Opeyemi as per its statement of claim, having failed to repay the outstanding loan facility.

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