Emeka Okonkwo, popularly known as E-Money and the CEO of Emy Cargo and Shipping Services Limited, is currently under investigation by the Force Criminal Investigation Department Annex, Alagbon, over an alleged N1.2 billion dispute with a Lagos-based vehicle dealing company, Autocorp Limited.
According to a police source familiar with the case, who spoke on condition of anonymity, Okonkwo and the aggrieved party have been summoned for questioning, with further meetings scheduled to delve into the matter.
In a bid to unravel the truth behind the disputed sum, our correspondent engaged Patricia Iduwre, the sales manager of Autocorp Limited. Iduwre revealed that the company had engaged Okonkwo to clear eight vehicles in 2020/2021, consisting of six TXL Prado and two Lexus jeeps, valued at N1.2 billion.
However, despite Okonkwo clearing the vehicles, Autocorp Limited has yet to take possession of them. Confirming the ongoing investigation, Aminat Mayegun, spokesperson for the FCID Annex, Alagbon, disclosed that Okonkwo had been cooperative and that both parties would be summoned for further discussions.
Iduwre explained, “We entrusted Okonkwo with the clearance of these vehicles, valued at N1.2 billion. However, he recently claimed to have sold the vehicles, citing an alleged debt owed to him, which we vehemently deny. Despite legal intervention and police involvement, Okonkwo’s explanations remain unsubstantiated.”
Raymond Olaiya, the legal representative of Autocorp Limited, described the situation as one of “stealing, fraudulent conversion, and criminal sale” in a petition to the FCID.
In response to the allegations, Okonkwo denied any wrongdoing but confirmed the existence of a business transaction between both parties. He expressed willingness to provide further details upon his return.
