News
Portable’s Letter Of Undertaking For N27M G-Wagon Purchase Surfaces
- Contractual Agreement Between Singer and Car Dealer Revealed
- Details Portable’s Payment Plan for Luxury Vehicle
- Sheds Light on Dispute Leading to Arrest
Eko Hot Blog reports that following the recent arrest of Nigerian singer Portable for allegedly refusing to pay a debt owed to a car dealer, a contractual agreement between the parties has surfaced online.
Payment Terms Outlined
The letter of undertaking, which has gone viral, outlines the terms of Portable’s purchase of a Mercedes Benz GLE 350 worth N27 million from Temmy Autos, a car dealership.
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According to the document, Portable paid an initial deposit of N12 million in January 2024 and agreed to pay the remaining balance of N15 million in two installments, with N5 million due on January 24, 2024, and the final payment in February 2024.
Repossession Clause
Notably, the agreement stipulates that the car dealer has the power to retrieve the Mercedes Benz GLE from Portable if he fails to comply with the payment terms.
The document reads, “I, BADMUS OKIKIOLA HABEEB (AKA PORTABLE) of the above name and address hereby write this letter of undertaking that I purchase a Mercedes Benz GLE 350 Black colour with CHASIS NUMBER: 4JDA5HB6GA656575 at the rate of Twenty Seven Million Naira Only (N27,000,000.00) which I promise to pay first Payment tomorrow on the 10th of January, 2024, (N12,000,000.00) Second Payment will be on the 24th January, 2024 Five Million naira (N5,000,000.00).“
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Shedding Light on Dispute
The surfacing of this agreement sheds light on the ongoing dispute between Portable and the car dealer, which led to the singer’s arrest for allegedly refusing to pay the outstanding N14 million balance.
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