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Firm Petitions EFCC over N132m Deal with Bank From Charles Onyekamuo in Awka A leading transport company based in Onitsha, Anambra State, Mic-Merah International Agency, has petitioned the Economic and Financial Crimes Commission (EFCC) asking it to investigate allegation of fraud and conspiracy to defraud it (Mic-Merah) of over N132 million being paid into the Citi Bank Limited, Lagos, for an agreed facility transaction. Mic-Merah had in the petition addressed to the chairman of the commission through its solicitors, Joshua Mba and Co., said the agency had sometimes in September 2000 entered into a lease facility transaction with the bank situated at 1, Idowu Street, Victoria Island, Lagos for a total value of facility worth N120 million for the importation of four luxurious buses. The bank, according to the petition, was to contribute 70 per cent of the sum, while the agency was to make advance contribution of 30 per cent of the said sum which was valued at N41 million; which the agency claimed it paid to the bank. The petition stated that in another facility, the bank granted it an over-draft of N10 million towards yet another letter of credit for two containers of (1 x 40 and 1 x 20) of new auto spare parts, the value of which stood at $372,000 (three hundred and seventy-two thousand United States dollars). The agency alleged in the petition that it contributed another N39 million (thirty-nine million naira only) which it paid in advance to the bank, making a total of N80 million (eighty million naira only). Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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