E-Money, Automobile Ltd Reach Agreement After Police Investigation

Posted by Amarachi on Fri 24th May, 2024 - tori.ng

Under the Alternative Dispute Resolution framework, both Auto Corps Automobile Limited and Emy Cargo and Shipping Services Nigeria Limited came to a mutual agreement.

Emoney

E-Money

Businessman and Chief Executive Officer of Emy Cargo and Shipping Services Limited, Mr Emeka Okonkwo, also known as E-Money, has reached an amicable agreement with Auto Corps Automobile Limited.

Earlier, the police had confirmed that E-Money was under investigation over the alleged acquisition of 488 cars.

According to reports, someone entrusted him with money to deliver 488 cars, but the person only delivered 480, leaving out eight cars.

Although one vehicle had been recovered out of the eight cars, seven remained outstanding.

A statement released by the Federal Criminal Investigation Department in Alagbon and signed by the Police Public Relations Officer, ASP Aminat Mayegun, however, said that under the Alternative Dispute Resolution framework, both Auto Corps Automobile Limited and Emy Cargo and Shipping Services Nigeria Limited came to a mutual agreement.

The statement read: “Auto Corps Automobile Limited and Emy Cargo and Shipping Services Nigeria Limited Reach Agreement Following Police Investigation.

“On February 16, 2024, Auto Corps Automobile Limited submitted a written petition to the Assistant Inspector General of Police, Force CID Annex Lagos, concerning Emy Cargo and Shipping Service Nig Ltd. Detectives of FCID Annex Lagos swiftly launched a thorough investigation, uncovering crucial details surrounding the dispute.

“After careful consideration and discussions facilitated under the Alternative Dispute Resolution framework, both Auto Corps Automobile Limited and Emy Cargo and Shipping Services Nigeria Limited have come to a mutual agreement. This agreement underscores their commitment to resolving the matter stemming from a previous business engagement.

“The resolution includes terms of financial reconciliation and payment schedules aimed at amicably settling the dispute. In light of these developments, the Assistant Inspector General of Police, FCID Annex Lagos, urges both parties to uphold the agreement and foster peace amongst themselves.”