Documents exclusively obtained by SaharaReporters showed that the auto dealer, Mr. Anekwu Chika Valentine of Prestige Autonet Limited, has already contracted a Lagos-law firm to assist him to recover the debt.
A letter of instruction addressed to the law firm of W.K Shittu and Co., stated that the law firm will take 10 per cent of the sum owed by Davido if it is recovered.
On February 10, Davido issued two bank cheques of N10million and N1.4million respectively. However, the latter, which apparently was to pay a part of the N7.4million was not honored by the Bank, where the auto dealer is also a customer.
Giving a dud cheque is a criminal offense punishable by a two-year jail term.