Alleged N16.5m Fraud: How Jim Iyke Defaulted Payment Twice

JIM IYKE

Nollywood actor, Jim Iyke, who was reportedly arrested last year, for allegedly defrauding a business woman Habiba Abubakar of N16.5 million has reportedly failed to meet his obligation of repayment of the contentious money he invested into clothing business.

Jim Iyke was reportedly arrested last year and allegedly locked up at SSAS for three days without bail, following a cry-out by Habiba whom he had a reported unsuccessful 15 Million Naira business deals with.

After the case had been tried in the court, both parties decided to settle out of court and Jim Iyke was reportedly asked to pay N200,000 monthly into any of Habiba’s children accounts within the period of four years.

However, Habiba while speaking exclusively with WEEKEND FLAVOUR revealed that the Nollywood star has not been complying with the repayment of the money invested in his unsuccessful clothing business, as agreed by both parties.

“Jim was asked to pay two hundred thousand naira into any of my children’s accounts since April, he started paying in May. He paid for May and June and didn’t pay in July and September but paid in August. He defaulted twice and the debt repayment agreement states that if he defaults payment twice, the total income becomes due instantly”

Habiba however stated that she will soon release a video footage recorded by a security camera in her house, which shows Jim Iyke and his family members trooping to her house to beg her.