By Vivian Okejeme
Abuja
The Federal High Court sitting in Abuja has ordered promoters of Bakrad International Limited and children of a former Minister of Women Affairs, Hajiya Zainab Maina, to pay the sum of N61.057 million to the National Economic Reconstruction Fund (NERFUND) as outstanding principal loan and accrued 13.50% interest of loans granted them to finance a business.
The suit before Justice Ahmed Mohammed, filed by NERFUND joined the former minister’s children, Hajia Maina, Mr. Umar and Rahinatu Maina, as the first and second defendants, respectively.
In the suit NO:/FHC/ABJ/CS/742/2015, the Plaintiff sought to recover from defendants a loan amounting to the sum of N61, 057, 123. 06 being the outstanding principal loan and the accrued 13.50% interest granted them to finance and carry out their table water and juice production business sometime ago.
“The customer did not make any payment and it appears the former Minister used her influence while in office to obtain the loan for a company she and her children have interest. She frustrated the perfection of the pledged assets and nothing was paid on the account till date. This is one of the facilities that grounded the operations of NERFUND, make it insolvent and led to the job loss for over 30 staff of the agency in December, 2016.”
Giving his judgement after listening to both parties, Justice A. R. Mohammed directed the defendants to pay NERFUND N61.057 million as agreed upon by both parties during the transaction.
According to Justice Mohammed, the defendants failed to put forward any defence to the plaintiff’s action hence the plaintiff is entitled to judgment of the court.
He, therefore, held that judgement was entered in favour of the plaintiff against the defendants in the suit.
“Since I have earlier held that the defendants have not given any defence to the plaintiff’s claim on the merit, the plaintiff is entitled to judgement of the court. I therefore make the following orders: judgement is hereby entered in favour of the plaintiff against the defendants in this suit.
“The defendants are hereby directed jointly and severally to pay the plaintiff the sum of N61, 057, 123. 06, being the outstanding principal loan and the accrued 13.50% interest agreed on the principal loan as at 8th June, 2015,” the judgement read in part.
