Joined as Okupe’s co-defendants in the suit are an investment company, Value Trust Investment Limited, and a Director of the company Mr. Ray Ahazie.
NDIC is claiming Okupe, who is the chairman of the company and other defendants owe the sum of N34,168,064.51. as outstanding balance of a loan they took from liquidated Gulf bank Plc.
NDIC is also claiming the interest on the said sum at the rate of 21 per cent per annum from May 2007, until the final liquidation of the said sum.
NDIC in its statement of claim filed before the court on the 10 July 2007 by its lawyer, Dr. I. Abiodun Layonu, stated that the defendants was granted a credit facility in October 2000, by Gulf Bank Plc, to finance the importation of 10,000 metric tones of rice for onward delivery to the Balyesa state government in the sum of N448, 000.00, vide an offer letter dated 27 October 2000, and that the terms and conditions of the offers and acceptance were later formalized in a memorandum of agreement duly signed and stamped by the bank and defendants.
