Sunday, October 17, 2010

N258m debt: Finbank moves to sell Nwobodo’s property

Senator Jim Nwobodo

First Inland Bank Plc has began moves to sell property belonging to a former governor of Enugu State, Senator Jim Nwobodo for failing to settle a N258,350,421.34 loan.

According to documents in the possession of The Punch, the bank had granted Nwobodo’s company, E.M. Micheletti & Sons Nigeria Limited, loans totalling N200m l between 2008-2009 at 18 per cent interest per annum.

The loan sum plus interest is put at N258, 350, 421.34 as at June 25, 2010.

Following the failure to repay the loans, the creditor has threatened to sell Nwobodo’s property at 8, Okpara Avenue and 59, Park Lane Avenue, Enugu, w hich he mortgaged to bank for the loan.
Source:http://www.punchng.com/Articl.aspx?theartic=Art201010182571940

No comments:

Post a Comment