The owner of Nigerian network HipTV has filed a lawsuit against Heritage Bank, accusing it of breaching professional conduct amid a protracted disagreement.
HipTV is owned by Smooth Promotions, which is run by Ayo Animashaun. By order of the federal high court, the bank recently seized HipTV’s property after it failed to pay back a loan.
However, Smooth Promotions claims the bank fraudulently deducted insurance premiums from HipTV’s account without remitting the money to the insurance company, and charged interest that was not agreed upon, alleging that almost N200m worth of charges were incorrect.
The company is requesting that the court reverse these charges, which were revealed by an independent audit.
“We have gone to the courts and we believe the justice system will intervene to make sure another honest, responsible Nigerian company does not fall prey to a mafia financial institution,” said a spokesperson for the entertainment channel.