Case details for Niyi Wasiu Omokanye

Name: Niyi Wasiu Omokanye

Name: WASPAMED LTD

Date of Birth: 21 / 3 / 1969

Date Order Starts: 11 / 12 / 2024

Disqualification Length: 8 years Years 0 Month(s)

CRO Number: 09851831

Last Known Address: 8 The Croft,, , , , WALSALL, WS5 3DE

Conduct: On 21 December 2020 Dr Niyi Wasiu Omokanye (‘Dr Omokanye’) applied for and obtained a Government-backed Bounce Back Loan (‘BBL’) of £42,000 for Waspamed Ltd (‘Waspamed’) by providing inaccurate information regarding Waspamed’s turnover in 2019, thereby causing it to obtain £30,172 in BBL funding to which it was not entitled. In that: • The BBL scheme permitted a loan of up to 25% of a business’ turnover in the calendar year 2019 (or estimated annual turnover if it had been established after 01 January 2019), to a maximum of £50,000; • Waspamed was incorporated in November 2015 and commenced trading at that time; • Its bank statements record income of £47,316 in 2019, which would have entitled Waspamed to a BBL of no more than £11,828; • On 21 December 2020 Dr Omokanye completed an application form for a BBL from Waspamed’s bank, self-certifying that its turnover in 2019 was £170,000 and requesting a loan of £42,000. • A BBL of £42,000 was received by Waspamed on 31 December 2020. • As Waspamed was trading throughout 2019 it was not entitled to estimate its turnover on the application form. • Waspamed therefore received £30,172 to which it was not entitled. • Waspamed’s bank submitted a proof of debt in the liquidation for £41,877 and is the only third-party creditor. 

This information is correct as at 21 / 11 / 2024



If you believe this page contains any errors, please email legalservices@insolvency.gov.uk with details of the error that you have found.