Kanu Nwankwo Slammed with N1bn Law Suit by Partner (Details)

Former Arsenal FC player and Captain of the Super Eagles, Nwankwo Kanu has been slammed with a N1 billion lawsuit by Ayoola Gam-Ikon, his business partner and a lawyer, for malicious prosecution by the police.

According to Gam-Ikon in his suit, he claimed he had been arraigned on 19 counts of fraud by the police after a complaint by Kanu on March 5, 2013.

He revealed that the charges brought against him were however, dismissed by a chief magistrate after the Federal Director of Public Prosecutions declared that the he, Gam-Ikon was absolved of the alleged crimes.

Ayoola Gam-Ikon while urging the court to award damages amounting to N1 billion to him, claimed that he lost valuable time and years of his life going back and forth to court and facing trial.

The claimant had been Kanu’s partner in incorporating The Hardley Apartments Limited on April 22, 2004 on a shareholding structure of 70% to Kanu and the 30% to him.

Kanu and Gam-Ikon had gotten a loan of N457 million in a bid to expand their business and raise the Hardley Apartments to a five star hotel.

Gam-Ikon revealed that the trouble between him and Kanu started in the process of returning the loan and it led to his prosecution.

The claimant requested the court to order Kanu to pay an interest of 22% of the amount in the claim from December 15, 2015 till the day the judgement would be passed and 10% interest from the passing of the judgement till the claimed sum will be paid.

“The claimant was devastated by the effect of his arraignment, imprisonment at Ikoyi prison during the perfection of bail and pendency of a criminal charge and has been running from one hospital to the other for medical assistance owing to his debilitating ill health and has only just started showing signs of improvement,” Gam-Ikon claimed in his suit.

Ayoola Gam-Ikon filed the suit on Tuesday, February 10, the case is yet to be assigned any judge yet.