Innoson sues Imo Govt over N2.5bn debt

Nigeria’s indigenous vehicle manufacturing company, Innoson Vehicles Manufacturing (IVM) has filed a lawsuit against the Imo State Government over its failure to pay or service a debt worth N2.5 billion.

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.

In a statement issued by the company’s Corporate Communications Head, Cornel Osigwe, it stated that, “The lawsuit which was filed by Prof Joseph N Mbadugha, SAN, FCPA of McCarthy Mbadugha & Co, the counsel to Innoson Vehicles coming against repeated attempts made by the Chairman of Innoson Vehicles Manufacturing, Dr. Innocent Chukwuma, to the Governor urging him to pay the company on the vehicles sold, and delivered to the State Government.

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