N14M Debt : See The Signed Agreement Between Portable And Car Dealer That Led To Singer’s Arrest

N14 million debt : See the signed agreement between singer Portable and car dealer that led to singer’s arrest.

The controversial Nigerian musician was arrested after failing to pay N14 million balance for a Mercedes GLE he bought for N27m.

Singer Portable and the car dealer agreed to split the money into three installment payments spread out over 30 days.

A signed agreement between Portable and a Lagos-based car dealer has surfaced online, hours after the controversial Nigerian musician was arrested over a debt he incurred after buying a Mercedes-Benz GLE SUV worth N27 million.

The signed letter of undertaking seen by Autojosh shows that there was an agreement between Portable and the car dealer to split the N27 million into three installment payments spread out over 30 days.

Part of the agreement reads :

“I (Portable) purchase a Mercedes Benz GLE 350…. at the rate of N27,000,000.00”, with the singer promising to pay N12 million as the first payment on the 10th of January, 2024.”

• See Also : Singer Portable Arrested After Failing To Pay N14m Balance For A Mercedes He Bought For N27m

“Second Payment will be on the 24th January, 2024 Five Million naira,” “The third payment will be on 10th of February, 2024 Five Million naira, balance must be paid on the 24th February, 2024”

“Altogether the money is Twenty Seven Million naira Only (27,000,000.00) which I BADMUS OKIKIOLA HABEEB (Aka PORTABLE) agree that the car is very okay by me.”

While the singer acknowledged that the Mercedes-Benz GLE was okay at the time of purchase, he later told car dealer that the car was bad, a reason why he failed to balance the remaining N14 million.

When contacted, the Lagos State Police Command Public Relations Officer (PRO), Benjamin Hundeyin, confirmed that the singer was arrested over his refusal to pay N14 million balance.

“Yes, Portable has been arrested. He bought G-Wagon for N27m, paid N13m and refused to pay the rest, claiming the vehicle was bad. We arrested him today,” SP Hundeyin stated.

It will be recalled that Portable, born Habeeb Okikiola, announced the purchase of a Mercedes-Benz GLE SUV earlier this year. The singer bought the GLE to replace the Brabus-badged Mercedes-Benz G-Class SUV he crashed last year.

• See Also : Singer Portable Splashes N50 Million On Mercedes GLE 350 SUV, Days After Acquiring Lexus RX350