₦airaland Forum

Nigeria's Innoson Vehicle Manufacturing Company Limited, also known as IVM, is sounding the alarm over Governor Hope Uzodinma of Imo State's failure to pay up on a significant debt.

The issue revolves around 150 vehicles IVM supplied to the state government, valued at over $7 million at the time of delivery. However, due to fluctuations in exchange rates, if the payment is made today, the amount would be equivalent to $1.5 million, Cornel Osigwe, Head of Corporate Communications and Affairs of Innoson Group, said on Tuesday.


Osigwe took to Facebook to express the company's worries.

According to Osigwe, the conversation should shift to how Innoson Vehicles has managed to stay afloat despite Nigeria's challenging economic landscape and the significant debts owed to the company.

He said, “Lest we forget, about 150 vehicles supplied to the Imo State Government under the leadership of Hope Uzodinma valued at over $7,000,000 remained unpaid.


“Based on the devaluation of our Naira, if the money is paid today, it will now be worth $1.5M.

“The conversation should be how have Innoson Vehicles been surviving under our harsh economic conditions and heavy debts being owed to the company.”

SaharaReporters in August 2022 reported that the company in a statement issued by Osigwe insisted that the Imo State Government owed it N2.5 billion for the vehicles it supplied to the state government.

The company earlier filed a lawsuit against the state government at a High Court in Anambra State over the unpaid debt.

The company said the lawsuit followed the failure of the state government to pay or service a debt of over N2.5 billion for the purchase of vehicles and their parts.

Meanwhile, the Imo State Government had described the position of the automobile company as distasteful and cheap blackmail.

The government described the company's claims as half-truths, intended to impugn on its integrity for ulterior motives.

The state government said it bought vehicles worth over N5 billion from Innoson Motors and had so far paid the company N3.5 billion.

Source: https://saharareporters.com/2024/10/08/governor-uzodinma-yet-pay-over-7million-150-vehicles-supplied-imo-govt-2021-value-now#google_vignette

Why would Innoson want to blackmail you? This is how politicians kill jobs they cannot create; this is what happens when a fraudster with fraud cases in court becomes the governor of a state.

God will curse the generations of the Supreme Court judges who imposed this man on Imo State. If they don't pay for their evil deeds, their descendants definitely will for the rest of their lives!

Don't forget to collect interest as well. APC government not creating jobs instead destroying businesses. Again we have parliament not asking serious questions why local businesses like this are still not getting adequate support. No reason for the state government not making payment instantly.

If you don't pay business owners for business rendered, their business will fail.

You don't create jobs, but you kill jobs.

Omo

..[s][/s]

Why would Innoson strike business with a fraudster? I blame him.

Na wah o

Igboman trying to shutdown his brother's business

Any "Hope"?

SmartPolician:
Why would Innoson want to blackmail you? This is how politicians kill jobs they cannot create; this is what happens when a fraudster with fraud cases in court becomes the governor of a state.

God will curse the generations of the Supreme Court judges who imposed this man on Imo State. If they don't pay for their evil deeds, their descendants definitely will for the rest of their lives!

But why would IVM supply the vehicles without payment?

Innocent has been so lenient in business and he's been taken for granted.


Gtb comes to mind

Insensitive governor

Uzodinma should pay back tat money with interest , what blackmail are they talking about

Hmm

Geovanni412:
But why would IVM supply the vehicles without payment?

Part payment was given, the total amount was five billion

Inoson is the pride of Nigeria.
Please politicians, keep away 🙏

does this apc idiot want to kill that business.

Hope uzor demma ☺️☺️☺️😅😅

H

How will Innoson be conducting business in Nigeria in dollars?? The Senate passed a law against this sometime back.

Secondly, how will Innoson claim it supplied 150 vehicles without been paid a dime?

Thirdly, why does Innoson keep having issues with banks and state governments regarding payments?

Reload101:
Igboman trying to shutdown his brother's business

You are very foolish for bringing in ethnic sentiment in this matter.

Conflicts happens everywhere between same tribes and between different tribes.

The issue is to be on the side of the truth.

Funn, this means, IVM cars are more expensive than cars from the USA. no wonder people prefer american cars. 7 Million dollars translate to 46,000 dollars per vehicle.

A brand new tear rubber 2025 honda accord is about 28,000 dollars in the USA.

Now i understand why we don't grow as a nation.

Thats what dangote is also doing to us. I was a supporter of dangote but now i believe our entrepreneurs are just out to enrich themselves.

I understand the need to make profit, but excessive profit is bad

Space for sale contact me

The only thing the man knows is to be a good follower of the apc and sponsor their agenda at the regional level.

It's more cheaper to import from China directly than to buy from Innoson.

Innoson change the name on Chinese cars to his name and then double the price, nemesis will catch up with the scammer one day.

How can 150 cars be upto 7 million dollars ? but Igbo will support Innoson to swindle Imo state because they don't like the government.

ironheart:
Funn, this means, IVM cars are more expensive than cars from the USA. no wonder people prefer american cars

Are you buying the American cars brand new?

You are buying fairly used vehicles shipped over after being overly used by Americans.

That election rigger never surprises me. If a sane person replaces him, then you will know the kind of damage he has done to the state, through corruption.

Emmanuel900:
It's more cheaper to import from China than to buy from Innoson

It's cheaper to import from China, than to produce in most countries of the world.

China is a manufacturing cheat code.

Their well oiled supply chains and govt subsides are unmatched anywhere in the world.

It doesn't stop smarter countries from patronizing their own indigenous products.

tiswell:
Innocent has been so lenient in business and he's been taken for granted.


Gtb comes to mind

$7m to purchase those substandard Chinese motors.

A complete waste of money!

This is what happens when when you keep looking for government contracts to stay afloat.

CSTRR:
Are you buying the American cars brand new?

You are buying fairly used vehicles shipped over after being overly used by Americans.

my brother, i didn't finish my writeup. Brand new 2025 honda accord is 25,000 dollars, the brand new innoson car is 46,000 dollars. Lets assume we are comparing apples for apples, its not fair to us that ours be twice the price na