Ayo Animashaun’s Smooth Promotions Drag Heritage Bank To Court For Fraud

It appears another Nigerian bank is behaving badly, and about to be called to order by the court.

According to court papers leaked online today, heritage bank, which has been embattled for some time, is being sued by Smooth Promotions (owned by Ayo Animashaun ) for almost a billion Naira.

The case was filed by Kemi Pinheiro LP (SAN) at a Lagos federal high court, alleging that Heritage Bank fraudulently deducted insurance premiums 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 N200m worth of charges were not correct.

Smooth Promotions had taken a loan from the bank to purchase an OB Van in 2014. The company says Heritage bank never fully disburse the funds to them, and they had to borrow money abroad to avoid losing the OB Van.

The case is messy, but the court papers are very detailed.

In the past one year, heritage bank has been in the news for behaving badly, including having its managing director Ifiesimama Sikibo arraigned for fraud in March 2018.

Likewise, in 2017, the EFCC investigated the bank and its MD for a N13bn fraud over funds belonging to the Oyo State government.