Investigation has lifted the lid on the crux of the ongoing faceoff between the Economic and Financial Crimes Commission, EFCC, and the MD/CEO of Innoson Motors, Innocent Ifediaso Chukwuma, who was arrested by the anti-graft agency after evading arrest for months.
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Sources up to speed with the matter that has generated comments on social media gave our correspondent an insight into the true facts of the issue.
Information available to us revealed that GTBank financed importation of certain spare parts and goods for Innoson Motors, and based on the nature of the banking facility the bank granted the company, the goods were imported in the Bank’s name.
Likewise, the original bills of lading, which were in the Bank’s name were sent directly to the Bank by the Exporter.
So also, in the agreement, Innoson was required to pay 25% of the value of the Goods to enable the bank endorse the shipping documents to the company and empower it to clear the Goods.
But trouble started after Chukwuma approached GTB claiming his company could not afford the 25% , imploring the bank to release the Goods without paying a dime.
The bank turned its nose up at the request. However, the Innoson boss got around it.
It was alleged that he forged the Bills of Lading as well as the Bank’s endorsement including the bank’s stamp and Signatures of its staff to clear the Goods from the ports.
“We hear that Efcc concluded its investigation as far back as 2012 and prepared charges against innoson. The police also investigated Chukwuma and found him culpable.
“Forensic examination was also done which confirmed forgery of the bank’s shipping documents particularly as the original bills of Lading were presented by the bank during the investigation.
“Shouldn’t we be asking: Where are the bank’s goods? How did innoson clear the Goods from the Ports? Ok, even after selling the Goods, did he pay the money to the bank?
“The issue EFCC arrested him for is a criminal matter (forgery of shipping documents). Should Innoson go free because of his tribe or because he is an indigenous vehicle manufacturer? Even the shipping company and shipping agents that facilitated the fraud are not left out of the investigation,” sources said.