…incapable of paying creditors, court judgement debt
A former governor of Anambra State (name withheld) has officially cried out vide court affidavit that he’s presently facing excruciating financial difficulties.
It’s so dire that he has not been meeting up his obligations, particularly after his losses incurred in the Nov 6,2021 governorship election in the state.
The ex-governor who manipulated his way to the Senate,was once wielding so much powers and air at the nation’s seat of power.
He attributed his very poor financial status to the huge money he spent in last year’s poll in Anambra state.
According to him, he would not be able to meet up complete payment of his judgment debt to a popular billionaire business mogul in the state who he’s owing a substantial sum.
Consequently, the ex Senator, and ex governor in his 41 paragraph affidavit sworn to personally, said he will face financial restraint and extreme hardship if compelled to pay the total judgement debt.
He stated that his financial downturn and the poor state of the nation’s economy were some of the factors that now placed him in a poor financial position.
That it’s reasons he could not pay the debt completely as a whole.
The ex-governor whose tenure was very shortlived, said his poor financial state due to heavy expenditures he incurred in the Nov 6,2021 election pleaded for time to pay instalment small sum to the creditor monthly. It may spread over a period of 4 years and that he had already paid two million naira as part payment of the judgement debt.
The ex-governor, in his motion with the supporting affidavits is seeking an order of the court to stop further execution of the judgement of the court which had earlier been carried out by men of the enforcement unit of the high court.
It was gathered that the ex-governor who is now pleading for judicial concessions to enable him pay the judgment debt had in his defence submission claimed that the debt was a soft loan granted by the creditor as a donation for his campaign which the judge dismissed on the ground that the defendant did not bring any convincing evidence.
The judgement creditor had further filed a motion seeking order of the court to auction the properties recovered from the residence of the ex-governor.
Further hearing on the matter has been adjourned to next month.