Smooth Promotions, owners of HIP TV, has filed a suit at the Federal High Court in Lagos, against Heritage Bank, alleging that the bank ...
The case was filed by Kemi Pinheiro LP (SAN) at a Lagos federal high court, alleging that Heritage Bank fraudulently deducted insurance premiums from Smooth Promotions account without remitting the money to the insurance company; charged interests that were not agreed;and a forensic audit found that almost N200m worth of charges were not correct.
Smooth Promotions, owned by Ayo Animashaun, is asking the court to reverse over N185m revealed by independent audit to be the result of interest rates over and above the agreed interest rate and other unwholesome, spurious, unjustifiable, and illegal entries inputted into its account as at February 2017.According to the court papers, the company says it lost in excess of N533, 927,562 owing to the failure and refusal of Heritage Bank to insure its property against risk like fire, and or provide information to Smooth promotions as to insurance on its property following a fire incident on November 6, 2017 despite debiting Smooth Promotions of the insurance premium.
A spokesperson for Smooth Promotions said the company will pursue all available legal means to seek redress; despite the apparent attempt by Heritage Bank to intimidate and spin the facts in this matter. “We have gone to the courts, and we believe the justice system will intervene to make sure another honest responsible Nigerian company does not fall prey to a mafia financial institution,” said the spokesperson.
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