Business
BARRISTER Kukei Umoye, counsel to former Union Homes Company Secretary Mrs Mainuma Chionuma, has asked Aso Savings and Loans Plc to show where it deposited the N2.5b Lagos State paid as court-ordered compensation to Abule Ado Building Materials traders, Union Homes and two others.
The former Company Secretary accuses Aso Savings and Loans of illegally diverting the compensation.
Umoye responded to media reports where Aso Savings claimed the company secretary’s petition against them to financial sector regulators was “mere blackmail”.
He stated: “The question is did Aso Savings divert the money? Yes. Is Aso a party in the matter before the court? No. Did they pay political people N1.25b? Yes?”
As the lead agency in an unfinished merger, principal officers of Aso Savings & Loans Ltd diverted N2.5b (Two billion five hundred million Naira) the Lagos State Government paid as judgement debt and compensation to Union Homes Plc, Searaq Nig. Ltd and the Abule Ado Plumbing Materials Association.
The allegation is a central thesis of the petition to the Central Bank of Nigeria, the Nigeria Police Force and financial services industry regulators by the former Company Secretary of Union Homes following threats to her life for refusal to accede to the transaction.
Mrs Maimuna Chionuma further alleged threat to her life by the officers responsible for the heist, namely Risi Ladi Ahmed (MD ASO SAVINGS AND LOANS PLC), Richard Femi Bello also of Aso Savings and Femi Adewoye, Chief Operating Officer of Union Homes.
Kukei Umoye, Esq, counsel to Mrs Chionuma, averred in the petition to the Central Bank of Nigeria: “We write, as a matter of urgency, to bring to your attention the risks to our client’s life and the nefarious activities of the above-mentioned individuals who have constituted themselves into a cabal that has continuously defrauded Union Homes of her money and assets, particularly the latest theft of N2.5 billion (Two billion five million Naira) which is a proceed of litigation at the Lagos State High Court between Union Homes and others against Lagos State wherein the Court advised parties to settle and subsequently granted a court-ordered judgement. The court ordered the money to be paid into a specific account with further orders.
“Without recourse to Union Homes, the above-mentioned persons diverted and converted the money to an account unknown to Union Homes.
“The risk to our client is on account of her refusal as Company Secretary/ Head, Legal, Union Homes Savings and Loans Plc (hereinafter referred to as ‘UH’) to aid and abet fraud, money laundering, diversion, and conversion of N2.5 billion (Two billion, five hundred million Naira) Lagos State Compensation, due in part to ‘UH’, by the above persons.”
How did Aso Savings and Loans come into a matter concerning Union Homes so much as to handle and convert money meant for Union Homes? It is a story of an unconsummated merger by one party who nevertheless assumed the headship of both organisations.
Aso Savings and Loans and Union Homes worked on a merger with Aso Savings Plc, but they have yet to conclude. Indeed, Aso Savings refused responsibility for Union Homes’ liabilities in court cases filed by Union Homes’ depositors,
Mrs Chionuma declined an instruction to be part of the activity whereby Aso claimed that 50% of the N2.5b, which translates to N1.250b, was paid to “Political People”. She said they told her that N75m was paid as fees to a consultant for sharing money to “Political People”. Chionuma refused to sign off the payment of N50m as part of the total sum of N126m purportedly incurred as legal fees to counsel not on the court’s record.
In response, the Chief Operating Officer of Union Homes responded that their former Company Secretary’s allegation was blackmail and introduced her marital relationship as daughter-in-law to the retired former MD of the company. Adewoye and Aso Savings and Loans impugn the lawyer’s character that represented Union Homes and the other claimants alleging “friendship” with the Company Secretary.
Barrister Umoye countered, “The relationship between the former managing director and our client is not an issue, and every reasonable and supposedly responsible entity ought not to bring that into what is at play (criminality). The relationship between Aso Savings and Union Homes is inchoate, particularly in the cases that were in court (Lagos State High Court). Aso Savings was never a party in the suit and should explain how it received the compensation without the knowledge of the counsel in the suit.”
He added: “They should exhibit the account the money was paid into regarding Union Homes. The reference to the counsel as our client’s friend reflects the poor state of mind of a criminally inclined misbegotten brood of persons”.
Mrs Chionuma served at Union Homes for 25 years and rose to become the Company Secretary. In June 2020, Union Homes’ management sent her a letter of commendation for her “immense hard work, dedication, and outstanding performance in the discharge of your duties, especially during this COVID-19 pandemic. Management is pleased to note your contribution and urges you to keep it up and extend this zeal to the growth of the organisation”. Telufusi Fadekemi, Head, Human Resources and Admin, signed for the company and copied the Group Head, Corporate Services, Aso Plc.
The former Company Secretary said regarding the Union Homes solicitor who questioned the involvement of Aso Savings & Loans Plc. “The firm of solicitors was enlisted in 1999, and I was appointed Company Secretary in 2015. Consequently, I inherited the firm when I took over as Company Secretary.”
She decried the attempt to demean the issues because of her gender. “The solicitors worked on the recovery for ten years. He took Richard Bello and me to Alausa for meetings. He attended court for years. At what point did he become my friend?
“Meanwhile, the parties agreed upon the terms of the settlement under reference in 2015 together with the bank’s former solicitors Toyin Pinheiro SAN who withdrew from the matter before Kusamotu came on board and adopted the Terms of Settlement”.
Counsel Kukei Umoye added, “The fact is that monies were laundered, and they must be accountable for such brazen behaviour. Our client had a meritorious stewardship spanning 25 years or more without blemishes. If there were any infractions, the trio would have used that against her. We receive letters threatening her not to spill the acrimonious actions of stealing and money laundering committed by the trio. Lies have a life span, and this is one lie/crime that will not be allowed to be swept away by enemies of our great nation.”
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Tags: Barrister Kukei Umoye Mrs Mainuma Chionuma
