From Okwe Obi, Abuja
A senior official of Union Homes Savings and Loans PLC, Maimuna Chionuma, has petitioned the Central Bank of Nigeria (CBN) and the police over an alleged diversion of N2.5billion by Aso Savings and Loans PLC.
Chionuma, in a statement, on Thursday accused principal officers of Aso Savings and Loans, the lead council in an unfinished merger, of diverting the N2.5 billion judgement debt paid by the Lagos State Government as compensation to Union Homes Plc, Searaq Nig. Ltd and the Abule Ado Plumbing Materials Association.
Chionuma, who is also the Secretary of Union Homes Savings and Loans, said she filed the petitions following threats to her life for refusing to accede to the transaction.
Speaking through her counsel Kukei Umoye, she averred: “We write, as a matter of urgency, to bring to your attention the risks to our client’s life and the nefarious activities of the above-mentioned individuals who have constituted themselves into a cabal that has continuously defrauded Union Homes of her money and assets, particularly the latest theft of N2.5 billion which is a proceed of litigation at the Lagos State High Court between Union Homes and others against Lagos State wherein the court advised parties to settle and subsequently granted a court-ordered judgement.
“The court ordered that the money to be paid into a specific account with further orders.
“Without recourse to Union Homes, the above-mentioned persons diverted and converted the money to an account unknown to Union Homes.
“The risk to our client is on account of her refusal as Company Secretary/Head, Legal, Union Homes Savings and Loans Plc (hereinafter referred to as ‘UH’) to aid and abet fraud, money laundering, diversion, and conversion of N2.5billion Lagos State Compensation, due in part to ‘UH’, by the above persons.”
Speaking further, Chionuma’s lawyer, Umoye said: “The Lagos State Government paid the fee as a court-ordered agreement following the settlement of the cases filed by Union Homes Ltd, Agric Coker Building & Plumbing Materials Dealers Association, Agric Coker Building Materials Dealers, and Seraq Limited.
“The offence was the demolition of shops to expand the Badagry Expressway. Union Homes funded the associations to build the shops.
“The handling solicitors filed a letter to the Attorney General of Lagos State querying the payment that left out Searaq Nigeria Limited and the Abule Ado plumbing materials association.”
He noted that the solicitors stated that, “It was shocking to learn that N1bn was paid to a non-party, Aso Savings and Loans Plc, on December 30, 2022 as compensation in full and final settlement of Suit BD/20/2013. This payment only came to light when Lands Bureau officials requested that we invite officers of Aso Savings & Loans Plc, a non-party, to sign a bond/indemnity for sums received.”
He added that LASG further paid N1.5bn on January 25, 2023 to Aso Savings and Loans Plc to settle suit ID/113000LMW/2022 despite instructions to the contrary.
According to him, the handling solicitors stated, “From the receipt of payment, Aso Savings and Loans Plc had falsely held itself out as the financier of the demolished development and a party to the above action.
“Though we are aware that our client has been in the process of merging with Aso Savings and Loans Plc, they remain unknown to us as a party in this action or, indeed, a party to the settlement. Any payment to Aso Savings and Loans Plc, a non-party to the above suit, would be illegal.”