c. The Iveco truck generated a profit of $4,000 per month and if the $4000 is split into
30 days, it gives a value of $133 per day and if multiplied by 63 days, it gives a total of
$8400 for this truck.
d. The Mercedes truck generated a profit of $ 4,000 per month and if the $4000 is split
into 30 days, it gives a value of $133 per day and when multiplied by 63 days, it gives a
total of $8400 for this truck.
e. The Mercedes Sprinter truck generated a profit of $2400 per month and if the $ 2400
is split into 30 days, it gives a value of $80 per day and if multiplied by 63 days, it gives a
total of $ 5,040 for this truck.
The applicant claims that the total cost of feeding, transportation, transit and the cost
of renting trucks is $36,330.
Each carton of smoked fish would be sold in Nigeria in March/April 2016, at
₦260,000.00, which would total ₦40,560,000.00 for the 156 consigned boxes.
The applicant claims that if the sum of ₦2,105,928.00 representing the Naira equivalent
of $10,636.00 raised with the resale (at the official exchange rate of ₦198 per 1USD) is
deducted from the sum of ₦40,560,000.00, will give a balance of ₦38,454,072.00.
The applicant claims that the money he used for this transaction was a 25% interest loan
granted to him by the SKYE BANK based in the Republic of The Gambia.
The applicant also claims that, following the aforementioned facts, he was not possible
to repay the loan to the bank, since the goods perished.
That because of his inability to repay the loan, the bank has sued him in the court and
he was sentenced to pay the loan, so his two buildings are being put up for sale in The
Gambia to pay off the debt.
He also maintained that his company collapsed completely and that his family of six
children have been subjected to psychological torture, since four of his children left
school because of lack of school fees, and because of all this he suddenly became
hypertensive and has been hospitalized constantly since this incident.
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