Reports reaching us have it that the CEO of ABC Transport, Mr. Frank Nneji has been booted out of the Imo state governorship race by the All Progressives Grand Alliance, APGA.
Nneji’s disqualification came as a result of a petition against him by Fidelity Bank, in which the bank alerted APGA that the guber hopeful has been in the bank’s debt. The bank, we gathered, further argued that Nneji’s entry into the governorship contention has occasioned an adverse material condition on his part, which has made it impossible for him to abide by the repayment terms of the debt.
A source close to APGA in Abuja affirmed that indeed there was a petition brought by Fidelity Bank against Nneji which revealed his indebtedness to the bank prayed the party to compel Nneji to repay the bank N14 billion or be disqualified. A chieftain of the party who spoke to us on the condition of anonymity also said the content of the petition was about Nneji’s ‘technical bankruptcy’ and the need for the party to take action.
When contacted, the National Publicity Secretary of the party kept mum on the issue. He rather promised that very soon the list of those who are qualified to seek the governorship ticket of the party in Imo State will be published.
Recall that Nneji ran into financial crisis following the huge loans he had obtained to purchase ANAMCO, an establishment that has remained dysfunctional till date.