You are absolutely ignorant of legal matters. A Judge can return a case for re-assignment if he/she has been accused of prejudice by the plaintiff or defendant. It's not a case of who's is right or wrong. One of the reason is, the losing party may appeal base on bias. Another reason is simply principle. Judges are supposed to be upright and non-bias. He/she may feel insulted and will withdraw from the case. Do you understand?

agabusta:
The NJC should not have ordered withdrawal of the case from the Judge if indeed the Judge did not commit any misconduct.

Their action is contradictory to me. You said the Judge did not commit any misconduct, and you are still ordering that the case should be reassigned to another judge.

Invariably, they have fallen into the trap tactically set by Innoson. As what he wants is a delay of his trial.

Wiseandtrue:
Bad news everywhere!

I mean this needs no dragging! Documents were involved

They should stop dragging this case upandan. It's becoming more of politics to me

I have lost hope in Nigeria judiciary system! They are gradually changing their name from judiciary to puppets!

Anyone not in support of Buhari seems to be having problem(s) even with the judiciary

Hmmmmmmm it's getting boring!

This is an open and close case. Its Inosson that os dragging it.

Let him prove that he did not forge the documents used in clearing goods at the port na. Why d upandan?

RichDad1:

Trail continues. Not starting afresh.
The man is a corporate rogue.

TRAIL INDEED!

Innoson EFCC arrest and the GTB Loan: The facts behind the saga, By James Osaremen

December 20, 2017James Osaremen



Dr. Innocent Ifediaso Chukwuma, Chairman of Innoson Vehicle Manufacturing (IVM) Innoson Group.

Recently, the Innoson/GTBank story has gained so much media prominence, especially following the arrest of the Innonson chairman a few days ago by EFCC. Though the case is pending in court, Innoson has taken the battle to social media. There have been numerous sponsored social media campaigns against the Bank such as #BewareOfGTBank and #WhatIsWrongWithGTBank. The company has also gone Television, with its owner, Dr Innocent Chukwuma granting an interview to TVC, where he claimed he had obtained a judgement of N8bn against the bank. He added that the bank pleaded with him over their inability to pay, and that he graciously offered to accept shares of the bank as payment.

GTBank on their part has chosen to remain silent on the matter, perhaps trusting in the integrity of the legal system as against playing to the gallery. Many attempts by us to get the bank’s representatives to comment on the story has proven abortive. A staff of the bank who spoke under anonymity, stated “Irrespective of the issues we are facing with the company, Innoson remains a customer of the bank and we owe him a duty of confidentiality and to conduct ourselves in a responsible manner towards him”. This statement didn’t stop us from conducting our own investigations on the matter, and below are our findings, put in bullet points for your optimum understanding.

The obvious:

Innoson is, and still remains, a customer of GTBank.

What we discovered:

1. GTBank (in 2009) granted Innoson several credit facilities (i.e loans) totalling N2,400,000,000,00 (two billion, four hundred million Naira only), to part finance working capital requirements, import new motorcycles and motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment (“Imported Goods”).

2. Under the loan terms agreed by Dr. Innocent Chukwuma on behalf of Innoson, proprietary interest in the Imported Goods was consigned exclusively in favour of the Bank. This means that the Bank was the exclusive owner of the Imported Goods. Accordingly, the original shipping documents (i.e. the Bills of Lading) were in the custody of the Bank, and have remained in the custody of the Bank at all times.

3. Because GTBank was the exclusive owner of the imported goods, ownership of the goods could only be transferred to Innoson (or any other third party) by the Bank. The condition in the agreement between the Bank and Innoson, for the release of the Imported Goods by the Bank to Innoson, was the payment of 25% of the value of each Letter of Credit transaction by Innoson.

What we learnt:

1. Innocent Chukwuma approached the Bank, on behalf of Innoson, requesting the release of the shipping documents without payment of the agreed+ 25% equity. The Bank declined his request as a result of Innoson’s failure to meet the agreed conditions.

2. It came to the Bank’s knowledge sometime in June, 2011 that the Imported Goods for which the Bank declined to release shipping documents to Innoson in view of its failure to meet the agreed conditions, had been fraudulently procured by Innoson.

3. The Bank discovered that Innoson, under the control of Dr. Innocent Chukwuma had forged the Bank’s endorsement on the bills of lading to the Shipping Line and fraudulently cleared the Imported Goods which were in the name of the Bank. The Imported Goods, being property of the Bank should not have been cleared from the Port without the original shipping documents being endorsed by the Bank in favour of Innoson, or any third party.



4. The signatures of 4 (four) staff of the Bank, to wit, Taofeek Olalere, Dan Attah, Bunmi Adeyemi and Amazu Amalachukwu, as well as the Bank’s stamp were forged on all the shipping documents used by Innoson to fraudulently clear goods at the port. The Bank did not at any time endorse or transfer the shipping documents to Innoson, as the originals of each of the relevant Bill of Lading remain in the Bank’s custody to this very day.

5. When the Bank reported the matter to the Nigeria Police, Dr. Innocent Chukwuma claimed the Bank released the shipping documents to him. Consequently, the Police commenced investigation into the Bank’s complaint, including a forensic examination of the disputed signatures, and established that the signatures of the Bank’s staff were forged, and the Imported Goods were fraudulently cleared from the Nigerian Ports Authority by Dr. Innocent Chukwuma and his accomplices.

What we heard from the Police:

1. Police investigations confirmed that Innoson and Dr. Innocent Chukwuma deliberately set out to defraud, steal from the Bank and convert the Imported Goods belonging to the Bank by deceptive means and through forgery and misrepresentation. The unlawful takeover of the Imported Goods, which served as the Bank’s collateral, left an indebtedness in excess of the sum of N1,654,481,895.04 (one billion, six hundred and fifty four million, four hundred and eighty one thousand, eight hundred and ninety five Naira, four Kobo) as at September 26, 2012.

2. Chief Innocent Chukwuma was arrested and interrogated by operatives of the EFCC, following which he agreed to make monthly payments into Innoson’s account until the full liquidation of Innoson’s indebtedness to the Bank. However, Innoson defaulted in making the agreed payments. Investigations by the Nigeria Police following a petition by the Bank in September 2013 also found Innoson and Chief Innocent Chukwuma culpable of the criminal allegations levied against them by the Bank, and Chief Innocent Chukwuma was accordingly charged to court by the Police.

3. The Police filed Charge No. FHC/L/565C/2015-Inspector General Of Police And Innoson Nigeria Limited; Innocent Chukwuma;Charles Chukwuma;Maximian Chukwura; Mitsui Osk Lines; Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to November 21, 2017 for arraignment/or hearing of motion for issuance of Bench Warrant.

What Innoson did:

1. Innoson approached the Bank for a reconciliation of his account and pleaded for a debt forgiveness. A reconciliation was carried out on the account – which had a debit balance of N1,654,481,895.04 as at December 31, 2011. In the spirit of amicable resolution and EFCC intervention, the Bank said it agreed to forego the sum of N559,374,072.09 which represented default charges that has accrued on the account and debited in line with the loan agreement between the customer and the Bank.

2. Based on this, the Bank decided to accept from the customer, the sum of N1,095,107,822.95 as full and final payment of the customer’s indebtedness to the Bank, provided that same shall be fully paid not later than (30) days from the date of the letter written to him

3. Surprisingly, Innoson commenced suit no:FHC/AWK/CS/2012 against the Bank at the Federal High Court, Awka stating the bank had debited its account with excess charges totalling N559,374,072.09 and obtained judgement in excess of N4.7Billion against the Bank. Again choosing to dishonour an agreement that was amicable reached between him and the Bank for a full and final settlement of N1,095,107,822.95 wherein the Bank graciously forgave him the sum of N559,374,072.09 which accrued on his account during the period which he abandoned his account.

4. To further stall the criminal proceedings against him, Chief Innocent Chukwuma and his company instituted suits at the Federal High Court, Abuja, as well as the Federal High Court, Awka in January 2014 against The Inspector General of Police, The Nigeria Police Force and Investigating Officer(s), seeking declaratory and injunctive reliefs, including orders restraining the Police from commencing criminal proceedings against Innoson and Chief Innocent Chukwuma. Furthermore, in a bid to stall the Bank’s recovery steps, and distract the Bank from focusing on the criminal action, as well as civil actions filed for recovery of the debt, Chief Innocent Chukwuma and his company Innoson, have continued to institute various spurious suits before various courts, claiming frivolous and outrageous sums against the Bank.

What GTBank is not saying:

1. In responding to Innoson’s motion for a stay of criminal proceedings at the Court of Appeal, the Honourable Justice J.S Ikyegh on September 17,2017 dismissed the motion for being unmeritorious and ordered that proceeding in the criminal case against Innson should proceed.



2. On October 12, 2017, the Police through its Charge No. FHC/L/565C/2015- filed an application for the issuance of bench warrant against Innocent Chukwuma; Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to Decemeber 8, 2017 for arraignment/or hearing of motion.

What we think:

Innoson should stop trying to play the underdog and simply resolve his issues through legal means or arbitration. On Innoson playing the Igbo tribe card, this is not in good taste in this moment in history. We are aware of GTBank’s strong position on unpaid debts. We know GTBank has gone often several debtors of the bank irrespective of who they are or where they come from. So why is Innoson’s matter now tribal? Please, this makes no sense. Innoson and GTBank, resolve your issues privately and let us all hear word.

Merry Christmas my people
James Osaremen
Lagos

https://www.premiumtimesng.com/promoted/253089-innoson-efcc-arrest-gtb-loan-facts-behind-saga-james-osaremen.html

zomoears:


This is an open and close case. Its Inosson that os dragging it.

Let him prove that he did not forge the documents used in clearing goods at the port na. Why d upandan?

If it is forgery then it should be over right now but I doubt, there is more to this story!

I believe they both had an agreement they should resolve this issue once and for all!

It's not a good publicity for the bank neither is it good for Innoson

Wiseandtrue:

If it is forgery then it should be over right now but I doubt, there is more to this story!

I believe they both had an agreement they should resolve this issue once and for all!

It's not a good publicity for the bank neither is it good for Innoson

If you can be patient, then read this. I read it thoroughly , hence my stand.

Innoson EFCC arrest and the GTB Loan: The facts behind the saga, By James Osaremen

December 20, 2017James Osaremen



Dr. Innocent Ifediaso Chukwuma, Chairman of Innoson Vehicle Manufacturing (IVM) Innoson Group.

Recently, the Innoson/GTBank story has gained so much media prominence, especially following the arrest of the Innonson chairman a few days ago by EFCC. Though the case is pending in court, Innoson has taken the battle to social media. There have been numerous sponsored social media campaigns against the Bank such as #BewareOfGTBank and #WhatIsWrongWithGTBank. The company has also gone Television, with its owner, Dr Innocent Chukwuma granting an interview to TVC, where he claimed he had obtained a judgement of N8bn against the bank. He added that the bank pleaded with him over their inability to pay, and that he graciously offered to accept shares of the bank as payment.

GTBank on their part has chosen to remain silent on the matter, perhaps trusting in the integrity of the legal system as against playing to the gallery. Many attempts by us to get the bank’s representatives to comment on the story has proven abortive. A staff of the bank who spoke under anonymity, stated “Irrespective of the issues we are facing with the company, Innoson remains a customer of the bank and we owe him a duty of confidentiality and to conduct ourselves in a responsible manner towards him”. This statement didn’t stop us from conducting our own investigations on the matter, and below are our findings, put in bullet points for your optimum understanding.

The obvious:

Innoson is, and still remains, a customer of GTBank.

What we discovered:

1. GTBank (in 2009) granted Innoson several credit facilities (i.e loans) totalling N2,400,000,000,00 (two billion, four hundred million Naira only), to part finance working capital requirements, import new motorcycles and motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment (“Imported Goods”).

2. Under the loan terms agreed by Dr. Innocent Chukwuma on behalf of Innoson, proprietary interest in the Imported Goods was consigned exclusively in favour of the Bank. This means that the Bank was the exclusive owner of the Imported Goods. Accordingly, the original shipping documents (i.e. the Bills of Lading) were in the custody of the Bank, and have remained in the custody of the Bank at all times.

3. Because GTBank was the exclusive owner of the imported goods, ownership of the goods could only be transferred to Innoson (or any other third party) by the Bank. The condition in the agreement between the Bank and Innoson, for the release of the Imported Goods by the Bank to Innoson, was the payment of 25% of the value of each Letter of Credit transaction by Innoson.

What we learnt:

1. Innocent Chukwuma approached the Bank, on behalf of Innoson, requesting the release of the shipping documents without payment of the agreed+ 25% equity. The Bank declined his request as a result of Innoson’s failure to meet the agreed conditions.

2. It came to the Bank’s knowledge sometime in June, 2011 that the Imported Goods for which the Bank declined to release shipping documents to Innoson in view of its failure to meet the agreed conditions, had been fraudulently procured by Innoson.

3. The Bank discovered that Innoson, under the control of Dr. Innocent Chukwuma had forged the Bank’s endorsement on the bills of lading to the Shipping Line and fraudulently cleared the Imported Goods which were in the name of the Bank. The Imported Goods, being property of the Bank should not have been cleared from the Port without the original shipping documents being endorsed by the Bank in favour of Innoson, or any third party.



4. The signatures of 4 (four) staff of the Bank, to wit, Taofeek Olalere, Dan Attah, Bunmi Adeyemi and Amazu Amalachukwu, as well as the Bank’s stamp were forged on all the shipping documents used by Innoson to fraudulently clear goods at the port. The Bank did not at any time endorse or transfer the shipping documents to Innoson, as the originals of each of the relevant Bill of Lading remain in the Bank’s custody to this very day.

5. When the Bank reported the matter to the Nigeria Police, Dr. Innocent Chukwuma claimed the Bank released the shipping documents to him. Consequently, the Police commenced investigation into the Bank’s complaint, including a forensic examination of the disputed signatures, and established that the signatures of the Bank’s staff were forged, and the Imported Goods were fraudulently cleared from the Nigerian Ports Authority by Dr. Innocent Chukwuma and his accomplices.

What we heard from the Police:

1. Police investigations confirmed that Innoson and Dr. Innocent Chukwuma deliberately set out to defraud, steal from the Bank and convert the Imported Goods belonging to the Bank by deceptive means and through forgery and misrepresentation. The unlawful takeover of the Imported Goods, which served as the Bank’s collateral, left an indebtedness in excess of the sum of N1,654,481,895.04 (one billion, six hundred and fifty four million, four hundred and eighty one thousand, eight hundred and ninety five Naira, four Kobo) as at September 26, 2012.

2. Chief Innocent Chukwuma was arrested and interrogated by operatives of the EFCC, following which he agreed to make monthly payments into Innoson’s account until the full liquidation of Innoson’s indebtedness to the Bank. However, Innoson defaulted in making the agreed payments. Investigations by the Nigeria Police following a petition by the Bank in September 2013 also found Innoson and Chief Innocent Chukwuma culpable of the criminal allegations levied against them by the Bank, and Chief Innocent Chukwuma was accordingly charged to court by the Police.

3. The Police filed Charge No. FHC/L/565C/2015-Inspector General Of Police And Innoson Nigeria Limited; Innocent Chukwuma;Charles Chukwuma;Maximian Chukwura; Mitsui Osk Lines; Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to November 21, 2017 for arraignment/or hearing of motion for issuance of Bench Warrant.

What Innoson did:

1. Innoson approached the Bank for a reconciliation of his account and pleaded for a debt forgiveness. A reconciliation was carried out on the account – which had a debit balance of N1,654,481,895.04 as at December 31, 2011. In the spirit of amicable resolution and EFCC intervention, the Bank said it agreed to forego the sum of N559,374,072.09 which represented default charges that has accrued on the account and debited in line with the loan agreement between the customer and the Bank.

2. Based on this, the Bank decided to accept from the customer, the sum of N1,095,107,822.95 as full and final payment of the customer’s indebtedness to the Bank, provided that same shall be fully paid not later than (30) days from the date of the letter written to him

3. Surprisingly, Innoson commenced suit no:FHC/AWK/CS/2012 against the Bank at the Federal High Court, Awka stating the bank had debited its account with excess charges totalling N559,374,072.09 and obtained judgement in excess of N4.7Billion against the Bank. Again choosing to dishonour an agreement that was amicable reached between him and the Bank for a full and final settlement of N1,095,107,822.95 wherein the Bank graciously forgave him the sum of N559,374,072.09 which accrued on his account during the period which he abandoned his account.

4. To further stall the criminal proceedings against him, Chief Innocent Chukwuma and his company instituted suits at the Federal High Court, Abuja, as well as the Federal High Court, Awka in January 2014 against The Inspector General of Police, The Nigeria Police Force and Investigating Officer(s), seeking declaratory and injunctive reliefs, including orders restraining the Police from commencing criminal proceedings against Innoson and Chief Innocent Chukwuma. Furthermore, in a bid to stall the Bank’s recovery steps, and distract the Bank from focusing on the criminal action, as well as civil actions filed for recovery of the debt, Chief Innocent Chukwuma and his company Innoson, have continued to institute various spurious suits before various courts, claiming frivolous and outrageous sums against the Bank.

What GTBank is not saying:

1. In responding to Innoson’s motion for a stay of criminal proceedings at the Court of Appeal, the Honourable Justice J.S Ikyegh on September 17,2017 dismissed the motion for being unmeritorious and ordered that proceeding in the criminal case against Innson should proceed.



2. On October 12, 2017, the Police through its Charge No. FHC/L/565C/2015- filed an application for the issuance of bench warrant against Innocent Chukwuma; Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to Decemeber 8, 2017 for arraignment/or hearing of motion.

What we think:

Innoson should stop trying to play the underdog and simply resolve his issues through legal means or arbitration. On Innoson playing the Igbo tribe card, this is not in good taste in this moment in history. We are aware of GTBank’s strong position on unpaid debts. We know GTBank has gone often several debtors of the bank irrespective of who they are or where they come from. So why is Innoson’s matter now tribal? Please, this makes no sense. Innoson and GTBank, resolve your issues privately and let us all hear word.

Merry Christmas my people
James Osaremen
Lagos

https://www.premiumtimesng.com/promoted/253089-innoson-efcc-arrest-gtb-loan-facts-behind-saga-james-osaremen.html

What is with innoson and court cases.... oga of

What is with innoson and court cases.... oga o

Hatred every where can we citizen's allow judiciary to do their job rather than miss interpreting them....

Innoson chairman did not appear before the court before now because his legal team believe the formal judge does not have the jurisdiction to handle his case hence plan to leave him in prison one's he appears till proper judge than has such jurisdiction is appointed, so they adviced him not to appear before the judge .....

Countless time his legal team have ask the woman judge if she has the jurisdiction to handle his clients case which always angered the judge and she didn't give any answer....

Let's leave in peace in this country

Destroying this hardworking man is automatically destroying more than 4000 jobs
I wish we have leaders in this country.

0koyibos:


You used 396 rambling words devoid of commonsense to reply a 39-word post. Obviously, you're an idle person and I hope Innoson employs you soonest so that you stop advertising your ignorance online.

As per the nonsense you typed up there, if you like, let Innoson be the one feeding your family and helping you impregnate your wife, that's your unfortunate business.

My own is that if them born you, your fellow wawa potopoto pigs and Innoson well, he shouldn't appear in court on the set date.

agabusta:
The NJC should not have ordered withdrawal of the case from the Judge if indeed the Judge did not commit any misconduct.

Their action is contradictory to me. You said the Judge did not commit any misconduct, and you are still ordering that the case should be reassigned to another judge.

Invariably, they have fallen into the trap tactically set by Innoson. As what he wants is a delay of his trial.

Exactly my thoughts! So the guy has won, he has rigged the system to achieve his aim.

agabusta:
The NJC should not have ordered withdrawal of the case from the Judge if indeed the Judge did not commit any misconduct.

Their action is contradictory to me. You said the Judge did not commit any misconduct, and you are still ordering that the case should be reassigned to another judge.

Invariably, they have fallen into the trap tactically set by Innoson. As what he wants is a delay of his trial.

Hey bro..thats not how the judicial system around the world works. "Justice is rooted in confidence" goes a popular legal maxim..How can u have faith in a person you believe he isn't going to be fair to u? The standard practice is that once you accuse a judge, the judge will step aside irrespective of what the NJC says.
Besides, Judges are humans. How do u expect a judge you've accused of being a thief handle your matter pending before him..it's just pure logic. Hope u grab the rationale for the NJC opinion?

Anambralstson:
ic
Just imagine how Punch Yoruba paper changed the headline
.
West, will see how the case end, very bitter tribe checkout headlines of other media houses

What do you mean by Punch changing the headline. Are you an illiterate not familiar with journalism?

The most important part of the news was what Punch reported, which is a dismissal of the petition against the Judge.

At the moment, the petition against the Judge alleging bias is the crux of the matter, as the case as been put on hold because of the petition.

Punch correctly and professionally reported the news.

The other matter of the case stalling because of the. NJC's request to have the case reassigned is secondary.

benben1000:
Afonjas already making noise to deceive gullible Nigerians, to make it seem like Innoson is at fault or guilty. First and foremost, NJC - National Judicial Council is not a court, it's just a corrupted organization of the judiciary. So what they think or say is irrelevant. We only believe the court. The supreme court has ruled in favor of Innoson and Innoson being a democrat believes so much in the judiociary and has gone back to the same judiciary where a filed a petition against the justice Dada who took bribe to arrange his arrest while his case was sure to be decided by the supreme court in days.

Nigerian judicial system is a hot mess right now! From some of the confused, conflicting and inexplicable rulings and decisions coming them, it's easy to tell they're beholden to special interests, confused and corrupt as hell!

Good luck to anyone trying to seek justice through the Nigerian judicial system...especially if you're seen as going up against these 'special interests' or if your case comes before a corrupt 'Buhari/APC' judge!

Xander85:


Nigerian judicial system is a hot mess right now! From some of the confused, conflicting and inexplicable rulings and decisions coming them, it's easy to tell they're beholden to special interests, confused and corrupt as hell!

Good luck to anyone trying to seek justice through the Nigerian judicial system...especially if you're seen as going up against these 'special interests' or if your case comes before a corrupt 'Buhari/APC' judge!

NJC is are under the payroll of the presidency. The NJC is an elite judicial organization in that it plays a major role in the vetting of lawyers, judges and justices for promotion in the Nigerian judicial system. If you don't play along with them and their script, they will pencil you down and blacklist you for judicial promotion or appointment. Keyamo when he started his activism was upright until lately he started playing partisan politics. Prior to that NJC made sure he was never selected to join SAN. He was passed on several times until he was finally accepted after I'm sure he signed some documents to play along, which is not surprising because he soon after his acceptance into the SAN, Keyamo made a 180 degree change.

At least the bench warrant still stands.
Thank yamiri man should be bundled into jail once and for all.

A fraudster! Cleared good with forged documents during GEJ era.

The original shipping documents are still in GTBANK vault.

agabusta:


What do you mean by Punch changing the headline. Are you an illiterate not familiar with journalism?

The most important part of the news was what Punch reported, which is a dismissal of the petition against the Judge.

At the moment, the petition against the Judge alleging bias is the crust of the matter, as the case as been put on hold because of the petition.

Punch correctly and professionally reported the news.

The other matter of the case stalling because of the. NJC's request to have the case reordered is secondary.

Crux of the matter, not 'crust'.
Just a humble correction sha

NOETHNICITY:
Crux of the matter, not 'crust'.
Just a humble correction sha

Thank you jor. Will effect the correction right away.

agabusta:
The NJC should not have ordered withdrawal of the case from the Judge if indeed the Judge did not commit any misconduct.

Their action is contradictory to me. You said the Judge did not commit any misconduct, and you are still ordering that the case should be reassigned to another judge.

Invariably, they have fallen into the trap tactically set by Innoson. As what he wants is a delay of his trial.

You're right, its just that Judicial Bias is a double-edged sword. Like every human being, an unbiased Judge is likely to harbor some resentment after a strong allegation of bias, especially where the judge is found to be innocent. That subsequent implicit 'bias' will be the basis for frivolous appeal. The directive to reassign is to save the integrity of the judiciary, especially since the case is still in the preliminary stages. If he had taken his plea and trial had commenced, it would be a different thing.

0koyibos:


You used 396 rambling words devoid of commonsense to reply a 39-word post. Obviously, you're an idle person and I hope Innoson employs you soonest so that you stop advertising your ignorance online.

As per the nonsense you typed up there, if you like, let Innoson be the one feeding your family and helping you impregnate your wife, that's your unfortunate business.

My own is that if them born you, your fellow wawa potopoto pigs and Innoson well, he shouldn't appear in court on the set date.

Agree that you need help just in case ...
You've judged Innoson to end up in kirikiri prison. But, when you were taken to the cleaners due to your comment, you quickly changed "mouth" daring Innoson not to show up at the next court sitting.

Innoson is a fraudster. Illiterate iboes like him are the bane of our economy today. He calls himself a 'motor' manufacturer, when all he does is import fake china parts at reduced import duties and assemble them in his mechanic workshop. As is common with illiterate iboe businessmen, none of his workers will be earning above 25k a month and he wants to be put in the same category as Dangote, Adenuga, etc. If innoson think he will use the same iboe fraud sense that he uses for them in the se to face GTB then he jam rock. He will know that yoruba are not illiterates like his kind.

0koyibos:


You used 396 rambling words devoid of commonsense to reply a 39-word post. Obviously, you're an idle person and I hope Innoson employs you soonest so that you stop advertising your ignorance online.

As per the nonsense you typed up there, if you like, let Innoson be the one feeding your family and helping you impregnate your wife, that's your unfortunate business.

My own is that if them born you, your fellow wawa potopoto pigs and Innoson well, he shouldn't appear in court on the set date.

Well if u must know I am an entrepreneur and an employer you'd see for yourself if u wish. I toured his facilities one on one with him both home and abroad for reasons best known to me and acknowledged the fact that its good to give honour to whom It's due. Rant all u like but u may not enjoy the privilege of having my response again.
For your information there's no business man that doesn't have turbulence come his path in a way of court matters once in a while. It's part of the road to greatness. We learn by experience.

Xander85:


See 'prayer'...see hate!

If INNOSON isn't a entrepreneur to admire and look up to, can you give us examples of such?

Enterpreneurship does not encourage criminal conduct. He forged documents. Let him go and defend himself in court rather than play to the gallery and avoiding the trial upandan. Anhan. Wetin hard for there? If you did not forge, prove it before the court. QED.

zomoears:


Enterpreneurship does not encourage criminal conduct. He forged documents. Let him go and defend himself in court rather than play to the gallery and avoiding the trial upandan. Anhan. Wetin hard for there? If you did not forge, prove it before the court. QED.

That's an allegation he remains innocent until court of law says otherwise

Dottore:

That's an allegation he remains innocent until court of law says otherwise

Thats why i said he should defend himself in court. He has engaged in so much legal gymnastics to avoid d substance of the matter been heard.

The wheels are grinding slowly but surely. We will soon know.

zomoears:


Thats why i said he should defend himself in court. He has engaged in so much legal gymnastics to avoid d substance of the matter been heard.

The wheels are grinding slowly but surely. We will soon know.

Legal battles are always like that when you are the defendant you treat with caution. What makes a good lawyer is not just about talking and talking and writing. Its about knowing the steps to take and ways to maneuver having seen the circumstances surrounding a matter.
Innosons matter is like many other cases involving prominent figures. Many former governors are standing trials l so are many other politicians. Saraki faced CCT. Dino is in court facing criminal matter so such is life.
It's either he frowns or he floats let's not be taking it personal

Dottore:

Legal battles are always like that when you are the defendant you treat with caution. What makes a good lawyer is not just about talking and talking and writing. Its about knowing the steps to take and ways to maneuver having seen the circumstances surrounding a matter.
Innosons matter is like many other cases involving prominent figures. Many former governors are standing trials l so are many other politicians. Saraki faced CCT. Dino is in court facing criminal matter so such is life.
It's either he frowns or he floats let's not be taking it personal

You mentioned saraki and dino facing trials, yet your guy is avoiding trials. See the contradiction?

Dottore:


I don't know why you are so pained by the numerous achievements of this "illiterate" entrepreneur who has created job opportunities directly and indirectly for numerous Nigerian citizens and expatriates alike who you can't measure up with any way.

Can I ask you a simple question? How does your father or any of your kinsmen compare to this man you are insulting?

Before you ignorantly throw more tantrums at the industrialist who you labeled "illiterate" can u visit at least two of his factories like the one in Abakaliki Express Enugu, where he manufactures ceramic wares, plastics, chairs, water storage tanks, PVC Ceiling, Gift Items, household items, kitchen wares etc or the one in Nnewi where he produces spare parts and assembles automobiles and see if you are better off than the "least" of any of his graduate employee? On the whole the guy has more than 4,000 employees; graduates, non graduates. Skilled workers etc.

Can u also visit Shandong, Foshan and Wuhan in China that is if u can afford a single entry China Visa and a cheap hotel in Guayishilu and a metro bus and see if you can measure up in anyway with any of the hundreds of Nigerians (including your fellow Afonjas) that are in his employ?

Meanwhile start by telling us about the generational achievements of your 'LITERATE' father and all your 'EDUCATED' kinsmen, if any?

Also may we know your academic qualifications, your present employment status apart from writing poo on job vacancy section of nairaland.com with a cheap android phone and bonus data and your highest monthly earnings so we can easily compare u with someone in Innoson's payroll who has the same earnings.

..... mpiawa azu..... masters stroke

Dottore:

Legal battles are always like that when you are the defendant you treat with caution. What makes a good lawyer is not just about talking and talking and writing. Its about knowing the steps to take and ways to maneuver having seen the circumstances surrounding a matter.
Innosons matter is like many other cases involving prominent figures. Many former governors are standing trials l so are many other politicians. Saraki faced CCT. Dino is in court facing criminal matter so such is life.
It's either he frowns or he floats let's not be taking it personal

It took a while but some people recently defeated AMCON in court.
It took a while but Dariye got convicted.
It will take a while but the courts will surely take a position on this Inosson's issue.

0koyibos:
Innoson is an illiterate but criminal mechanic. His matter has been assigned to another Judge but it's not starting afresh. Trial continues.

By the time Innoson knows what's up, he would be fixing vehicles for warders in Kirikiri prisons.

You children of nairaland that can't even afford to buy decent boxers for themselves,I wonder what you mean by illiterate? You that is well educated how many innosons or billionaires like him have your family and generation produced?

zomoears:
Innoson EFCC arrest and the GTB Loan: The facts behind the saga, By James Osaremen

December 20, 2017James Osaremen



Dr. Innocent Ifediaso Chukwuma, Chairman of Innoson Vehicle Manufacturing (IVM) Innoson Group.

Recently, the Innoson/GTBank story has gained so much media prominence, especially following the arrest of the Innonson chairman a few days ago by EFCC. Though the case is pending in court, Innoson has taken the battle to social media. There have been numerous sponsored social media campaigns against the Bank such as #BewareOfGTBank and #WhatIsWrongWithGTBank. The company has also gone Television, with its owner, Dr Innocent Chukwuma granting an interview to TVC, where he claimed he had obtained a judgement of N8bn against the bank. He added that the bank pleaded with him over their inability to pay, and that he graciously offered to accept shares of the bank as payment.

GTBank on their part has chosen to remain silent on the matter, perhaps trusting in the integrity of the legal system as against playing to the gallery. Many attempts by us to get the bank’s representatives to comment on the story has proven abortive. A staff of the bank who spoke under anonymity, stated “Irrespective of the issues we are facing with the company, Innoson remains a customer of the bank and we owe him a duty of confidentiality and to conduct ourselves in a responsible manner towards him”. This statement didn’t stop us from conducting our own investigations on the matter, and below are our findings, put in bullet points for your optimum understanding.

The obvious:

Innoson is, and still remains, a customer of GTBank.

What we discovered:

1. GTBank (in 2009) granted Innoson several credit facilities (i.e loans) totalling N2,400,000,000,00 (two billion, four hundred million Naira only), to part finance working capital requirements, import new motorcycles and motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment (“Imported Goods”).

2. Under the loan terms agreed by Dr. Innocent Chukwuma on behalf of Innoson, proprietary interest in the Imported Goods was consigned exclusively in favour of the Bank. This means that the Bank was the exclusive owner of the Imported Goods. Accordingly, the original shipping documents (i.e. the Bills of Lading) were in the custody of the Bank, and have remained in the custody of the Bank at all times.

3. Because GTBank was the exclusive owner of the imported goods, ownership of the goods could only be transferred to Innoson (or any other third party) by the Bank. The condition in the agreement between the Bank and Innoson, for the release of the Imported Goods by the Bank to Innoson, was the payment of 25% of the value of each Letter of Credit transaction by Innoson.

What we learnt:

1. Innocent Chukwuma approached the Bank, on behalf of Innoson, requesting the release of the shipping documents without payment of the agreed+ 25% equity. The Bank declined his request as a result of Innoson’s failure to meet the agreed conditions.

2. It came to the Bank’s knowledge sometime in June, 2011 that the Imported Goods for which the Bank declined to release shipping documents to Innoson in view of its failure to meet the agreed conditions, had been fraudulently procured by Innoson.

3. The Bank discovered that Innoson, under the control of Dr. Innocent Chukwuma had forged the Bank’s endorsement on the bills of lading to the Shipping Line and fraudulently cleared the Imported Goods which were in the name of the Bank. The Imported Goods, being property of the Bank should not have been cleared from the Port without the original shipping documents being endorsed by the Bank in favour of Innoson, or any third party.



4. The signatures of 4 (four) staff of the Bank, to wit, Taofeek Olalere, Dan Attah, Bunmi Adeyemi and Amazu Amalachukwu, as well as the Bank’s stamp were forged on all the shipping documents used by Innoson to fraudulently clear goods at the port. The Bank did not at any time endorse or transfer the shipping documents to Innoson, as the originals of each of the relevant Bill of Lading remain in the Bank’s custody to this very day.

5. When the Bank reported the matter to the Nigeria Police, Dr. Innocent Chukwuma claimed the Bank released the shipping documents to him. Consequently, the Police commenced investigation into the Bank’s complaint, including a forensic examination of the disputed signatures, and established that the signatures of the Bank’s staff were forged, and the Imported Goods were fraudulently cleared from the Nigerian Ports Authority by Dr. Innocent Chukwuma and his accomplices.

What we heard from the Police:

1. Police investigations confirmed that Innoson and Dr. Innocent Chukwuma deliberately set out to defraud, steal from the Bank and convert the Imported Goods belonging to the Bank by deceptive means and through forgery and misrepresentation. The unlawful takeover of the Imported Goods, which served as the Bank’s collateral, left an indebtedness in excess of the sum of N1,654,481,895.04 (one billion, six hundred and fifty four million, four hundred and eighty one thousand, eight hundred and ninety five Naira, four Kobo) as at September 26, 2012.

2. Chief Innocent Chukwuma was arrested and interrogated by operatives of the EFCC, following which he agreed to make monthly payments into Innoson’s account until the full liquidation of Innoson’s indebtedness to the Bank. However, Innoson defaulted in making the agreed payments. Investigations by the Nigeria Police following a petition by the Bank in September 2013 also found Innoson and Chief Innocent Chukwuma culpable of the criminal allegations levied against them by the Bank, and Chief Innocent Chukwuma was accordingly charged to court by the Police.

3. The Police filed Charge No. FHC/L/565C/2015-Inspector General Of Police And Innoson Nigeria Limited; Innocent Chukwuma;Charles Chukwuma;Maximian Chukwura; Mitsui Osk Lines; Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to November 21, 2017 for arraignment/or hearing of motion for issuance of Bench Warrant.

What Innoson did:

1. Innoson approached the Bank for a reconciliation of his account and pleaded for a debt forgiveness. A reconciliation was carried out on the account – which had a debit balance of N1,654,481,895.04 as at December 31, 2011. In the spirit of amicable resolution and EFCC intervention, the Bank said it agreed to forego the sum of N559,374,072.09 which represented default charges that has accrued on the account and debited in line with the loan agreement between the customer and the Bank.

2. Based on this, the Bank decided to accept from the customer, the sum of N1,095,107,822.95 as full and final payment of the customer’s indebtedness to the Bank, provided that same shall be fully paid not later than (30) days from the date of the letter written to him

3. Surprisingly, Innoson commenced suit no:FHC/AWK/CS/2012 against the Bank at the Federal High Court, Awka stating the bank had debited its account with excess charges totalling N559,374,072.09 and obtained judgement in excess of N4.7Billion against the Bank. Again choosing to dishonour an agreement that was amicable reached between him and the Bank for a full and final settlement of N1,095,107,822.95 wherein the Bank graciously forgave him the sum of N559,374,072.09 which accrued on his account during the period which he abandoned his account.

4. To further stall the criminal proceedings against him, Chief Innocent Chukwuma and his company instituted suits at the Federal High Court, Abuja, as well as the Federal High Court, Awka in January 2014 against The Inspector General of Police, The Nigeria Police Force and Investigating Officer(s), seeking declaratory and injunctive reliefs, including orders restraining the Police from commencing criminal proceedings against Innoson and Chief Innocent Chukwuma. Furthermore, in a bid to stall the Bank’s recovery steps, and distract the Bank from focusing on the criminal action, as well as civil actions filed for recovery of the debt, Chief Innocent Chukwuma and his company Innoson, have continued to institute various spurious suits before various courts, claiming frivolous and outrageous sums against the Bank.

What GTBank is not saying:

1. In responding to Innoson’s motion for a stay of criminal proceedings at the Court of Appeal, the Honourable Justice J.S Ikyegh on September 17,2017 dismissed the motion for being unmeritorious and ordered that proceeding in the criminal case against Innson should proceed.



2. On October 12, 2017, the Police through its Charge No. FHC/L/565C/2015- filed an application for the issuance of bench warrant against Innocent Chukwuma; Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to Decemeber 8, 2017 for arraignment/or hearing of motion.

What we think:

Innoson should stop trying to play the underdog and simply resolve his issues through legal means or arbitration. On Innoson playing the Igbo tribe card, this is not in good taste in this moment in history. We are aware of GTBank’s strong position on unpaid debts. We know GTBank has gone often several debtors of the bank irrespective of who they are or where they come from. So why is Innoson’s matter now tribal? Please, this makes no sense. Innoson and GTBank, resolve your issues privately and let us all hear word.

Merry Christmas my people
James Osaremen
Lagos

https://www.premiumtimesng.com/promoted/253089-innoson-efcc-arrest-gtb-loan-facts-behind-saga-james-osaremen.html

This is terrible if true! That means it's a case of fraud. Let's hope the courts get to resolve the issue soon.

Wiseandtrue:
Bad news everywhere!

I mean this needs no dragging! Documents were involved

They should stop dragging this case upandan. It's becoming more of politics to me

I have lost hope in Nigeria judiciary system! They are gradually changing their name from judiciary to puppets!

Anyone not in support of Buhari seems to be having problem(s) even with the judiciary

Hmmmmmmm it's getting boring!

ignorant fellow. you managed to drag buhari into an issue that started on 2009, 6yrs before buhari became president!!!

I'm sure buhari is the reason you're still single and living with your parents at 40