Standup9ja: Court orders ex-Minister’s children to pay NERFUND N61m

Standup9ja: Court orders ex-Minister’s children to pay NERFUND N61m

A Federal High Court sitting in Abuja has ordered children of a former Minister of Women Affairs, Hajia Zainab Maina to pay N61 million to National Economic Reconstruction Fund (NERFUND).

NERFUND in a suit against the promoters of one Bakrad International Limited joined Hajia Maina’s children, Umar and Rahinatu as the second and third defendants.

The trial judge, Justice Ahmed Mohammed in his judgment ordered that the defendants should pay the plaintiff the sum of N61 million being the outstanding principal loan and the accrued 13.50% interest agreed on the principal loan as at 8th June, 2015 granted them to finance their table water and juice production business.

The court held that the first defendant, Bakrad International Limited is an incorporated limited liability company under the Companies and Allied Matters Acts, and as a project holder/promoter and the second and third defendants are in charge of the first defendant in dealing with the plaintiff.

It also held that the defendants approached the NERFUND with a written request for working capital loans on the 22nd December, 2011, and that the second and third defendants as directors of the first defendant applied for the said loan and also personally entered into guarantees on the 2nd April, 2012 for the repayment.

The judge held that the defendants failed to put forward any defence to the plaintiff’s action hence the plaintiff is entitled to judgment of the court.