A Lagos-based businessman, Tosin Lanre Akinnuoye, the CEO of Sephsons Nigeria Ltd, has raised serious allegations against military contractor Chris Agiri, who is also the founder of the Flag Foundation of Nigeria, formerly located at 10 Faranah Street, Wuse Zone II, Beside NEPAD, Abuja.
Akinnuoye claims that Agiri has been owing him a substantial amount of money since 2011, a debt that has accumulated to N3,276,000.
The dispute dates back to 2011 when Agiri, who is not a soldier but supplies flags to the Nigerian Army, approached Akinnuoye with a business proposal.
Agiri claimed to have known Akinnuoye’s late father and expressed interest in doing business together.
Trusting the connection, Akinnuoye supplied Agiri with flags worth over N4 million. While Agiri made an initial payment of N3,335,000, he left an outstanding balance of over N1.6 million, which remains unpaid till date.
In 2021, Agiri reconnected with Akinnuoye, claiming to have secured another contract to supply flags to the Nigerian Army. He requested additional goods from Akinnuoye, who, despite the unpaid balance from 2011, agreed to the deal, hoping for a resolution.
However, this new transaction turned out to be another financial trap.
Akinnuoye ended up spending three months in Abuja, incurring expenses for hotel accommodation and feeding, all in a futile effort to recover his payment.
Despite repeated assurances from Agiri, the debt was not settled.
Frustrated by the lack of progress and Agiri’s refusal to answer calls or respond to messages, Akinnuoye requested the return of his unsold items.
Agiri complied partially, returning only the items he didn’t need or had not already sold.
This partial repayment further complicated the situation, as Aginnuoye was left with a combined outstanding debt of N3,276,000 till date.
See some screenshots of their past communications at one point or the other.
.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
