Terrier99:
Gtb has become Gtco. Innoson can only take Gtb to court not Gtco.

Na korofo Innoson hold for hand. Foolish illiterate.

so onecan borrow money from the bank, change his name and become legally free? Wise literate

fregeneh:


The case still in court? I thought it has been done with by supreme court.

IIf the case had been decided why hast he taken over GTB as he claimed?

Google is there to save you embarrassment before you post but if you choose to take your news from Nairaland and bloggers and swallow hook line and sinker, I cant help you. There are many cases in different courts on different matters involving GTB and Innoson, people are confusing one with the other and drawing conclusions and in some cases some are using it for propaganda.

perambulator:


It didnt occur to you that if the case had been decided why hast he taken over GTB as he claimed?

Google is there to save you embarrassment before you post but if you choose to take your news from Nairaland and bloggers and swallow hook line and sinker, I cant help you. There are many cases in different courts on different matters involving GTB and Innoson, people are confusing one with the other and drawing conclusions and in some cases some are using it for propaganda.

Supreme Court has ruled in Innoson v GTB Case. Gtb was only been clever by half trying to bring up cases without merit

Megatrix:

He doesn't need my help, he is doing a fine job on it already. You on the other hand need a lot of help with your ignorance.

Chai Technical Knock-out

FarahAideed:


Gerrat .Noth deleting the fact the GTCO and GT are separate legal entities should tell you what's up...we have seen Oando do this to people it owes twice , I have seen another company do it to Pat Utomi ..this is Nigeria where people can get away with anything .

This is a different case. GTB didn’t go out of existence, it is now just part of a holding company. The nomenclature or structure doesn’t invalidate a court order that effects GTB.
Just like they are still liable for all assets and liabilities in their book.

Ucheamani:


Total claims in court against GTbank as at last financial year was in excess of 450bn. It would interest you to know that the provisions made by the bank in the event of losing all the cases is 190m.
In anycase, GTbank UK Ltd is a different entity with different board of directors. Gtco only owns a share like other shareholders in the UK bank. Being a limited liability company, the fortunes or liabilities of the Nigeria holding company will have little or no impact to the London business.
Pfizer which folded in Nigeria still operates in other markets

Thats because they believe they wont lose the cases. Like I said, worst case scenario it comes out of dividends.

Let me give you some advice: I know most of your audience on Nairaland are idiots and ignoramuses but if you are not knowledgeable on a matter dont comment or try to sound knowledgeable else you end up looking a fool. I did not say anything about GT bank Uk. I said GTBank plc (the Nigerian company) is listed on the London Stock exchange. whether they have a subsidiary in the Uk is neither here nor there and wasnt the subject of my post.

ShoeShineGuy:


Obviously you're a pained member of staff who is allergic to the truth. I can see u & ur type all over this space attacking people whose comments are not favourable to GTBank. Funniest thing about your attack on my post is, I didn't even take sides with Innoson but yet, my post still manage give u runny stomach!

Pẹ̀lẹ́ o! Oya come delete this one too..

What is the name of the Bank you are working with? DINDINRIN!

Themandator:


Supreme Court has ruled in Innoson v GTB Case. Gtb was only been clever by half trying to bring up cases without merit

whatever you say. I am not here to debate the merits of the case. I dont know and I do not care. What I know is that the amount in question is relatively insignificant relative to the to the annual profits of GTb and particularly their market cap that there is ZERO possibility of Innoson ever owning or even becoming a majority shareholder of GTb as a result of this case.

out of the billions of brain cells in the human brain, you only need to engage 1 or 2 to figure that out.

Themandator:



This thing wey you write Na b you like a sensible thing?

Make I ask you...wetin be the reg number of gtb with the government of Nigeria..dem change am too?

Access sbnk wet dey for the same process of converting to an holding company who dem dey run from or VFD wet first dem do am to become a multipurpose investment firm rather than just a financial service outfit

GTB has been diluted and is now just a small component of GTCO holding ...Oando has don this twice to escape liabilities and it worked ..all they will do is handover Innoson empty shares in GTB that hold no mandate in GTCO ...

Terrier99:


Very possible.

Is it possible for AMCON to buy liabilities like NPLs without buying assets?

Think about it

AMCON don't buy liabilities alone, they take over all assets as well as the liabilities.

I don't think that GT is one of the systemically important bank that's why CBN has not waded in. If this was happening to a bank like first or access, it would have been resolved even if it requires CBN to pay the amount

Nothingserious:
I used to think this was a joke ooo.
Why is the matter gaining momentum like this?

Please anyone who is well versed on this issue should tell us the true position of things.

GTB is one the systemically important banks in Nigeria.

perambulator:



The case is still in court. In any event am I GTB? Wetin concern me? All I said is in the event GTB loses, Innoson can NEVER own GTB for the reasons outlined. You people should act like you have a few brain cells and stop posting like morons.

Supreme court already ruled on the case since 2019.

And the money is still increasing by 22% interest. so, the longer GTB delays payment, the higher their liability.

The money can very well reach 100Bn, 500bn, 1tn or more if GTB delays payment long enough. And depending on how long GTB delays payment (and Innoson waits out), The money can very much surpass GTB's capacity.

Also, he doesn't have to own 100% shares to be considered the owner. Once he's the highest shareholder (which this news implies he'll be if he got ₦33bn worth of shares), he will be referred to as owner.

Jeff Bezos for example, own just 11% of Amazon shares. But he's referred to as "Amazon owner" because he's the largest shareholder.

fregeneh:


The case still in court? I thought it has been done with by supreme court.

It has been judged by the supreme court since 2019.

SlyDev:


Other Yoruba shy from it reason you get away with it, not anymore

wat are u saying self tribalist

perambulator:


It didnt occur to you that if the case had been decided why hast he taken over GTB as he claimed?

Google is there to save you embarrassment before you post but if you choose to take your news from Nairaland and bloggers and swallow hook line and sinker, I cant help you. There are many cases in different courts on different matters involving GTB and Innoson, people are confusing one with the other and drawing conclusions and in some cases some are using it for propaganda.

The case had been decided by the supreme court since 2019.

Even the Fraud case, which GTB filed against him in conjunction with EFCC has gone off radar since that 2019 too.

But I think the reason why Innoson hasn't fought for the Judgement debt is, the longer Innoson waits, the more the money he'll potentially get because the judgement debt keep increasing with 22% interest.

That's why the possibility of him taking over GTB exist. If GTB delays long enough, the debt can/will surpass their capacity, and he can go to court at that point to implement the judgement debt.

Ayemileto:


Supreme court already ruled on the case since 2019.

And the money is still increasing by 22% interest. so, the longer GTB delays payment, the higher their liability.

The money can very well reach 100Bn, 500bn, 1tn or more if GTB delays payment long enough. And depending on how long GTB delays payment (and Innoson waits out), The money can very much surpass GTB's capacity.

Also, he doesn't have to own 100% shares to be considered the owner. Once he's the highest shareholder (which this news implies he'll be if he got ₦33bn worth of shares), he will be referred to as owner.

Jeff Bezos for example, own just 11% of Amazon shares. But he's referred to as "Amazon owner" because he's the largest shareholder.

The best way to reply you is to ask that you take a compounding calculator and calculate N33b at 22% interest and then take a look at GTB's profit history since inception and take their profit last year of 233b and compound it at 5% and tell me if after engaging your brain with the help of a calculator you see what i see? Which is that with every passing year, although innosons debt is increasing by 22% the proportion of that debt on GTB's annual profit will be getting less and less. 5% increase in GTb profit in 1 year alone is N11B!!!

When you argue emotionally and not with facts and figures you end up makng a fool of yourself.

By the way no one refers to Jeff Bezos as Amazon owner. he is refereed to as "Amazon founder" Even Steve jobs only ever owned about 1% of apple and he was kicked out.

If where you come from someone who owns 3% with no seat on the board and no power to make decisions is an owner then whatever floats your boat. But like I said he will never even get his hands on any GTB shares because worst case scenario they pay it from roughly 13% of 1 year's profits.

Sounds funny though but makes sense if they Had bought BTC when it was as in the range of $30k +. By now... na them for fey cut Innoson warning sef.

But bank will never do that. They go dey form calculated risk and stay on the defensive. Imagine buying BTC worth 10b early this year... them for d9n double that money pay Innoson over 2/3 of him money by now. But no! Greed and their useless policies will not allow them see road

ForeThinker:
GTB should invest in crypto and pay him off with the profits attained

Ayemileto:


The case had been decided by the supreme court since 2019.

Even the Fraud case, which GTB filed against him in conjunction with EFCC has gone off radar since that 2019 too.

But I think the reason why Innoson hasn't fought for the Judgement debt is, the longer Innoson waits, the more the money he'll potentially get because the judgement debt keep increasing with 22% interest.

That's why the possibility of him taking over GTB exist. If GTB delays long enough, the debt can/will surpass their capacity, and he can go to court at that point to implement the judgement debt.

you people are so financially illiterate it's unreal. I am feeling my IQ shrink just by replying. A real business man knows 2019 naira even at 22% interest is worth less in 2021 than it was in 2019 so if he could take the money or the interest, he would take the money in 2019. if you think I am lying, take take the 33b in 2019 and convert it to dollars at 2019 rate. now take the money and compound it annually at 22% and convert to dollars at 2021 rate...which is more?

kenzysmith:
pls dont close ur acct am a gtb staff we need 2k frm ur money to add to repay our loan if gtb fold i lose my job dont be heartless

Lmao, this is funny

Terrier99:


Close your account and carry your 10kobo elsewhere. Empty barrels making noise. Your total deposit can't even pay the salary of a staff for 1 month.

Ok sir,

Its still my hard earned 10kobo that neither you or the bank has ever given to me.

And just so you know, I don't bank with them for free and asuch I demand excellent services.

Try not to take out your frustrations at me alright!

perambulator:


The best way to reply you is to ask that you take a compounding calculator and calculate N33b at 22% interest and then take a look at GTB's profit history since inception and take their profit last year of 233b and compound it at 5% and tell me if after engaging your brain with the help of a calculator you see what i see? Which is that with every passing year, although innosons debt is increasing by 22% the proportion of that debt on GTB's annual profit will be getting less and less. 5% increase in GTb profit in 1 year alone is N11B!!!

What gave you the assurance that the bank will keep making profit at all, not to talk of 5% increment from past years own?

Also, if we are to agree your 5% increment is feasible year in year out, then the debt will actually be increasing over 4x faster than GTB's profit is increasing, so the percentage of debt to GTB's profit will actually be getting larger.

Another thing you're failing to note is that GTB is also owing other creditors hundreds of billions of Naira.

When you argue emotionally and not with facts and figures you end up makng a fool of yourself.

Lol. I'm not arguing emotionally. Rather you're the one doing that. Even twisting facts on multiple occasions.

I even doubt you know anything about the case and it's history, because up there, I can see you saying the case is still in court, while it already ended since 2 years ago.

By the way no one refers to Jeff Bezos as Amazon owner. he is refereed to as "Amazon founder" Even Steve jobs only ever owned about 1% of apple and he was kicked out.

If where you come from someone who owns 3% with no seat on the board and no power to make decisions is an owner then whatever floats your boat. But like I said he will never even get his hands on any GTB shares because worst case scenario they pay it from roughly 13% of 1 year's profits.

People refer to Jess Bezos as Amazon owner, just the way they refer to Elon Musk as Tesla's owner.

perambulator:


you people are so financially illiterate it's unreal. I am feeling my IQ shrink just by replying. A real business man knows 2019 naira even at 22% interest is worth less in 2021 than it was in 2019 so if he could take the money or the interest, he would take the money in 2019. if you think I am lying, take take the 33b in 2019 and convert it to dollars at 2019 rate. now take the money and compound it annually at 22% and convert to dollars at 2021 rate...which is more?

Well, he did wanted to take the money in 2019, sealing some GTB's branch in his state before Corona happened. I also once read about his offer to GTB for negotiation, offering to take shares instead.

Also, the bank's value is affected too, since the bank is valued in Naira on the NSE, so it kinds of balances out.

Like I said earlier, the possibility of him taking over a major share of GTB very much exist, as far as GTB keeps delaying payment/negotiation with him, while letting the money skyrocket.

Why

3

Carthman:
Make GT bank no cast o abeg

West1side:
You n your entire household with no exception at all must perish if any of the allegations you made here is false.

Just like GTB abi GTCO has perished.

FalseProphet1:
I see innoson taking over gtbank, I see massive job loss cos most workers will be retrenched, I see them doing promo this December telling customers to deposit money and win an innoson car.

I see hungry Nigerians depositing every penny they have and starving themselves so that they can win the car and resell it in order to survive.

I see gtbank discontinuing the promo after people have done compulsory 7 days dry fasting to save money just to win their car.

I see people calling them out on social media.

I see innoson boss opening an airline company to rival air peace.

This I have seen.

wake up from your slumber and wash your face man.

Terrier99:


Gtb doesn't pay criminals

The same crime they couldn't prove in court. The same allegations innoson won them over ?

perambulator:



The case is still in court. In any event am I GTB? Wetin concern me? All I said is in the event GTB loses, Innoson can NEVER own GTB for the reasons outlined. You people should act like you have a few brain cells and stop posting like morons.

It takes brains to know that instead of the case to be in court , gtb should pay .
But since your brain is filled with relaxer, this is what we get

Terrier99:


You're a big illiterate just like Innoson

Zenith
Jim Ovia, Delta state

Uba
Elumelu Delta state

Access
Wigwe, ikwerre, Rivers state.

Fidelity
Tier 3 Bank. Igbo

The best bankers are SS people and Yorubas. The biggest MFB is owned by SS people. The MFB is even bigger than Fidelity bank.
Igbos are merely traders who can't excel in banking. It is a fact. See Diamond Bank for instance.

It's the illiteracy in you that made you think ethnic groups and geopolitical zones are mutually exclusive. Elumelu and Ovia are Yoruba names , right ?