Honeywell must pay N72 billion debt, Ecobank insists.

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N72 billion debt honeywell

Honeywell must pay N72 billion debt, Ecobank insists.

Ecobank Nigeria Limited has said it would continue to resist any attempts to use a frivolous N72 billion claim to derail it from continuing to pursue the recovery of monies owed and overdue for payment by Honeywell Group.

 The bank, in a statement, said contrary to the picture being painted by Honeywell Group, it is undeterred by the continued attempts to coerce members of the public into believing that the Honeywell Group has fully paid its overdue indebtedness.

 “Ecobank’s attention has been drawn to several media reports stating that the Honeywell Group has filed a suit claiming N72 billion damages against Ecobank.

 “We wish to state that Ecobank is unhindered by the continued attempts to coerce the public into believing that the Honeywell Group has fully paid its overdue indebtedness.

   “It is noteworthy that Honeywell’s recent claim for damages was published and serialized in the news media even before the bank was served the court papers, which clearly elicits the ‘motive’ of a party owing huge sums of money.

  “Indeed the purport of the matter is most curious especially as there are other pending matters in court which remain undecided,” the statement reads.

  Ecobank is the Pan African bank with representation across 36 countries, said it supports various businesses in all the countries in which it operates while holding customer deposits in safe trust.

  The statement added that the financial institution is resolute that the businesses it supports should also honour their obligations when due, adding:

  “This is the crux of the demand on the Honeywell Group to pay their debts in full.

  “While the matter is in court, being a responsible corporate citizen, the bank reiterated its commitment in allowing due process to prevail in court rather than use the news media.

   “Our resolve is to fight to ensure that debtors fully honour their obligations after benefiting from credit facilities which helped to grow their businesses.”

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