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Ayo Animashaun Vs Heritage Bank: Bank Seizes Hip TV CEO’s Properties

In the on-going war between businessman Ayo Animashaun, owner of Hip TV, and Nigerian financial institution, Heritage Bank Plc, details have now emerged that the bank allegedly seized properties belonging to the business man.

According to a document sighted by Lailasnews.com,
the bank had on the 30th March 2019 taken over some properties belonging
to Smooth Productions and and then appointed one Mr Gani-Gigado
Abubakar, a solicitor and insolvency practitioner, as a manager/receiver
of the company.

Smooth Productions belonging to Mr Animashaun,
according to the document, could have been seized from the businessman
over an alleged indebtedness to the ban.

Animashaun had earlier
today released a statement on an alleged breach of contract on the side
of the bank and then he also wrote that he had filed a suit against the
bank at a Federal High Court.

Smooth Promotions is asking the
court to reverse over N185 million in alleged interest rates over and
above the agreed interest rate and other 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.

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, filed by Kemi Pinheiro LP, alleges 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,
Theyesng.com reports.

Smooth Promotions’ Executive Director,
Adeseun Kolawole-Oyeneye says the company will pursue all available
legal means to seek redress.

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