Months after the Supreme Court reversed its N2.4billion judgment given in favour of Innoson Vehicle Manufacturing Company because the firm obtained the judgment by fraud, the automobile company is threatening a court action against Imo State Government over alleged N2.5billion debt.
The automobile company claimed the amount was for the purchase price of the various IVM Vehicles including their parts which IVM manufactured, sold and delivered to the State Government but its government had failed to pay same despite repeated demands and appeals.
But Imo State Government has described as distasteful and cheap blackmail, the claim by Innoson Motors that the State is owing the company N2.5 billion being cost of the vehicles it supplied some months ago.
Reacting to a threat by the motor company threatening a lawsuit to recover “over N2.5billion debt owed” it by Imo State Government, the Commissioner for Information and Strategy, Hon Declan Emelumba, deplored the manner Innoson Motors is going about the recovery of the so-called debt.
The Imo State Government insists that the company’s claims are half truths, intended to impugn on the integrity of the government for ulterior motives.
The Commissioner said the truth is that the government bought vehicles worth over N5 billion from Innoson Motors and has so far paid them N3.5b.
He said contrary to the claim of Innoson Motors, the said N2.5b is actually the balance due from the original value of the purchase, regretting that Innoson Motors, for reasons best known to them, decided to hide this fact from the public.
Emelumba insisted that the total value of the vehicles supplied was in excess of N5b and that the government has been servicing the debt since then.
He said the management of Innoson Motors was actually the one that breached the contractual agreement with the State Government regarding the sale and maintenance of the vehicles.