Why HipTV’s Ayo Animashaun is taking Heritage Bank Plc to court

Nigerian entrepreneur and television executive, Ayodele Animashaun, has declared his intention to drag Heritage Bank Plc to court, over claims that the bank “lied and defrauded” his company.

Animashaun said he instructed his lawyers to file a suit at the Federal High Court in Lagos.

The matter has been on ground for a while – In a statement Animashaun issued today on Instagram, Animashaun explained that he has spent over two years trying to amicably resolve the problem but all to no avail.

“I HAVE SPENT OVER TWO YEARS DOING ALL I CAN TO RESOLVE THIS AS QUIETLY AS POSSIBLE, BUT I AM NOW LEFT WITH NO CHOICE BUT TO USE EVERY AVAILABLE LEGAL MEANS TO PROTECT MY REPUTATION, SECURE MY BUSINESS, AND GET THE REDRESS AND COMPENSATION I DESERVE.

“HERITAGE BANK HAS CONSISTENTLY LIED TO US, DEFRAUDED US, AND THEY’RE NOW ATTEMPTING TO TWIST THE FACTS TO MAKE US LOOK LIKE THE BAD GUYS.”

About the case

Smooth Promotions, a Lagos based media company, is accusing the bank of breaching all acceptable professional conduct with respect to a transaction that has been the subject of a protracted disagreement.

The court should reverse over N185 million in interest rates – Smooth Promotions is asking the court to reverse over N185 million in 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. These charges were revealed by an independent audit of the company’s accounts stretching back to 2013.

The company says it had a huge loss – 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 for the insurance premium.

The case has been filed by Kemi Pinheiro LP at a Lagos federal high court, alleging that Heritage Bank fraudulently deducted insurance premium 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 N200 million worth of charges were not correct.

About Ayodele Animashaun

Ayo who is the owner of HipTV, was born in the Kwara region of Nigeria. He studied Business Administration at Kwara State Polytechnic.

He is the CEO of Smooth Promotions, an entertainment firm that organizes The Headies award and publishes the weekly Hip Hop World Magazine.

On November 5, 2013, he led his firm to the launch of HipTV on Multichoice DSTV. In October 2013, The Net magazine listed him as one of the most influential people in the Nigerian entertainment industry.

Source: Nairametrics

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Author: see naija

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