Presiding judge, Oluremi Oguntoyinbo, adjourned the case till April 12, 2017, for a mention after it was presented at a Federal High Court in Lagos on Saturday.
A statement of claim filed by a Lagos-based lawyer, Oluwafemi Atoyebi, Unity Bank alleged that the Tompolo's company, Tuhaabix Global Services, had, on 14th November 2014, borrowed the sums of Euro 8,382,921.00, Euro 282,924.006 and N500,000,000 from Unity Bank Plc to fund letters of credit for the importation of the two dredgers and their spare parts.
According to the lawsuit, Muhaabix Global Services had provided the bank the titles to the two dredgers, Damen CSD 500 and Damen CSD 650, as collateral security for all the loans, all accrued interests and any outstanding amount payable to the bank.
In the lawsuit, Unity Bank claims that Muhaabix Global Services Limited violated the terms of the loan, adding that the company has failed, refused and neglected to liquidate its huge indebtedness to the bank. The bank added that it had not been able to recoup any funds from the company's fixed deposit as the Economic and Financial Crimes Commission (EFCC) had frozen the account.