Guys No Gobe for GTB, they simply removed the money and possibly used it as part of their capitalization fund, they are definitely going to withdraw from their capital fund . if u know how much they had made with the fund if they ve done biz with the fund, then u will realize that GTB was very smart and took advantage of the CBN policy.

lomprico:
Which kain case settlement go reach 5 billion?? I smell fraud.

Did you even read through, digest before commenting?

Hope it won't affect d customers...

Hmmmm .... I think say nah Hacker

naijainfogalery:
O boy see levels, So someone actually have more than 5 billion in his account wasting of to the extend that they illegally took out 5.3 billion and the fellow didnt die. Like seriously, five point three billion naira


Choi and some broke niggas will come here and start shouting the guy must have stolen money, keep hating and dying in poverty

Poverty he no go better for you. I curse you with every breadth in me, O boy see levels they took someone 5 billion and he didnt even burn down their bank he just took them to court,

I could remember one day that one man almost burnt down Access bank in ikeja for what reason? the bank illegally took 90 naira as SMS charge and 1,000 for ATM and the dude only has about 2,056 naira when they removed the money the dude has less than 1,000 and ATM only gives 1,000 cash, o boy see raking. I swore to burn down their bank that day and threatened to kill every body in the bank.

God please this is the stage i wanna get to and also connect me with people like this not those ones that still wanna finish the few small small money wey i dey gather dey do fine boy

This makes a lot of sense but I still laughed my ass out! !!

Good judgement.Most banks deduct money from most of their customer's account without the consent of the acnt owner. If companies should start having their accounts crosschecked, they would end up discovering that what most of these banks does.


When you take up facilities from any bank, try to get a consultant to request for your statement of account and now audit it, you may end up discovering what most of these banks does.

most of the people here just comment without reading the post and we claim to be future leaders? This is why people like ObJ has been our past present and will be future leaders. An average youth is lazy, assuming and ignorant. The money is for his clients and if you understand what settlement is all about , such compensations must be paid to the law firm or valuation company representing the complainants. The firm now disburse to the individuals or family represented

naijainfogalery:
O boy see levels, So someone actually have more than 5 billion in his account wasting of to the extend that they illegally took out 5.3 billion and the fellow didnt die. Like seriously, five point three billion naira


Choi and some broke niggas will come here and start shouting the guy must have stolen money, keep hating and dying in poverty

Poverty he no go better for you. I curse you with every breadth in me, O boy see levels they took someone 5 billion and he didnt even burn down their bank he just took them to court,

I could remember one day that one man almost burnt down Access bank in ikeja for what reason? the bank illegally took 90 naira as SMS charge and 1,000 for ATM and the dude only has about 2,056 naira when they removed the money the dude has less than 1,000 and ATM only gives 1,000 cash, o boy see raking. he swore to burn down their bank that day and threatened to kill every body in the bank.

God please this is the stage i wanna get to and also connect me with people like this not those ones that still wanna finish the few small small money wey i dey gather dey do fine boy

am sure you did not read the story or you would have seen the money is not his own but belongs to 774 local government areas as settlement.

dondo83:
most of the people here just comment without reading the post and we claim to be future leaders? This is why people like ObJ has been our past present and will be future leaders. An average youth is lazy, assuming and ignorant. The money is for his clients and if you understand what settlement is all about , such compensations must be paid to the law firm or valuation company representing the complainants. The firm now disburse to the individuals or family represented

thank you ,a lot of children roaming at nairaland, they failed to understand that the fund is still intact with GTB or being held by CBN for GTB

2n2k:
Nothing will hit the bank. The report was muddled up

The Accountant General paid N5.3billion to Edward's account for the benefit of his clients in January 2014. Edward started withdrawing the sum piecemeal based on the credited amount. During the year, the CBN ordered the recall of the entire N5.3 billion earlier credited for some undisclosed reason which Gtb must and complied with.

While Edward was right in suing GTB, CBN and Accountant General, the judge misled itself in excluding the CBN and accountant general as the defendants in the case. Is the judge saying a bank must disburse money that is no longer in its possession? He should know how cbn/bank relationship works. The CBN does not even need to require Gtb to remit the money back to it, cbn will simply debit the Gtb account maintained with it. It is now left for the bank to recover the fund from the customer

God bless you. I was beginning to get worried that no one was actually reading and understanding thoroughly.

naijainfogalery:
O boy see levels, So someone actually have more than 5 billion in his account wasting of to the extend that they illegally took out 5.3 billion and the fellow didnt die. Like seriously, five point three billion naira


Choi and some broke niggas will come here and start shouting the guy must have stolen money, keep hating and dying in poverty

Poverty he no go better for you. I curse you with every breadth in me, O boy see levels they took someone 5 billion and he didnt even burn down their bank he just took them to court,

I could remember one day that one man almost burnt down Access bank in ikeja for what reason? the bank illegally took 90 naira as SMS charge and 1,000 for ATM and the dude only has about 2,056 naira when they removed the money the dude has less than 1,000 and ATM only gives 1,000 cash, o boy see raking. he swore to burn down their bank that day and threatened to kill every body in the bank.

God please this is the stage i wanna get to and also connect me with people like this not those ones that still wanna finish the few small small money wey i dey gather dey do fine boy

This is the irony of life. This is fraud, what kind of service did he render? this are looted funds in disguise

exactly what i was thinking

jcmaiah:
Wetin the man defend to earn 5billion? did he defend Jesus?

[quote author=2n2k post=33884390]Nothing will hit the bank. The report was muddled up

The Accountant General paid N5.3billion to Edward's account for the benefit of his clients in January 2014. Edward started withdrawing the sum piecemeal based on the credited amount. During the year, the CBN ordered the recall of the entire N5.3 billion earlier credited for some undisclosed reason which Gtb must and complied with.

While Edward was right in suing GTB, CBN and Accountant General, the judge misled itself in excluding the CBN and accountant general as the defendants in the case. Is the judge saying a bank must disburse money that is no longer in its possession? He should know how cbn/bank relationship works. The CBN does not even need to require Gtb to remit the money back to it, cbn will simply debit the Gtb account maintained with it. It is now left for the bank to recover the fund from the customer[/quote

When peeps like you secure the best jobs, haters will say you were just being lucky. Keep up with the smart way of thinking; and paying attention to details.

Is this the same Ted who was indicted for stealing luxury cars in Atlanta and shipping to Nigeria from 2002 to 2005? He is now a lawyer?

David Nahmias, United States Attorney for the Northern District of Georgia, and Kenneth Smith, Special Agent In Charge, Immigration & Customs Enforcement, U.S. Department of Homeland Security, announced that a federal grand jury has returned an indictment against Ted Iseghohi Edwards, 44, a/k/a “Steve Poncho,” “Prince Lewis,” and “Dee;” Ogoegbunam Umenyiora, 30, a/k/a “Jason Williams,” and “J.R.;” and Gregory Shields, 28, a/k/a “Greg,” all of Atlanta, on charges of conspiracy to export stolen vehicles and to transport them across state and country lines.

According to Nahmias and the indictment:
Beginning in or about May 2002, and continuing through in or about January 2004, the three conspired to operate a stolen vehicle ring that shipped luxury vehicles out of the United States. Shields acquired vehicle identification numbers (VIN’s), and used that information to produce fraudulent ownership documents for those vehicles. Shields then recruited co-conspirators to fraudulently present those documents to dealerships to obtain replacement keys for the vehicles and to use the replacement keys to steal the vehicles.

The indictment, originally filed on April 17, 2005 alleges Edwards, Ogoegbunam and others loaded the stolen vehicles into rented shipping containers at Marietta Collision Center, 456 Roswell Street, Marietta, Georgia, an auto repair shop owned by Edwards.

The defendants also used the containers at Trans Volta American Inc., 1143 Willingham Drive, East Point, Georgia. Edwards hired trucking companies to transport the rented shipping containers containing stolen motor vehicles to the Port of Savannah for export to Le Havre, France, with Nigeria to be the final destination. Shipping and exporting documents falsely listed the contents of the containers as “refrigerators,” “floor carpet,” “computers and printers,” “air conditioners,” or “auto parts.”

Source
http://www.claimsjournal.com/news/southeast/2005/05/03/54507.htm

gtb bank, yoruba bank, kalukalu bank..funny bank


how can bank allow such a huge withdrawal

weyreypey:
A High Court of the Federal Capital Territory in Apo, Abuja, on Monday ordered Guaranty Trust Bank Plc to refund N5.3bn illegally withdrawn from the account of one its customers, Dr. Ted Edwards.

Justice Valentine Ashi, in his judgment, ordered that the N5.3bn should attract 10 per cent interest from Monday, when judgment was delivered, till the time the money was paid back to the owner.

The court also ordered that the money should attract another 21 per cent interest from December 12, 2014 when GTB allowed the illegal withdrawal, until the fund was eventually paid back to Edwards.

The judge, while reviewing the case in his judgment, held that the bank did not have any defence to its action of the withdrawal of the total sum of N5,240,516,186.21 from the customer’s account and thereby ordered the bank to pay the money to the owner through his Zenith Bank Plc account.

Edward, a lawyer of Edwards and Partners Law Firm, had initiated the suit, FCT/HC/CV/939/2015, in January 2015 following the alleged illegal withdrawal of the money on December 12, 2014.

The money was paid into the plaintiff’s law firm’s account with the GTB on January 2, 2014 by the Accountant-General of the Federation, Jonah Otunla.

The money was said to be for the settlement of a judgment got by his clients, Impecca Services Limited and His Royal Highness, Eze Ezekwo, against the Association of Local Government of Nigeria, as cost of consultancy services they rendered to the 774 local governments.

But in his judgment on Monday, Justice Ashi struck out the Central Bank of Nigeria, the Accountant General of the Federation, Minister of State for Finance, Anaocha Local Government Area, and the Incorporated Trustees of ALGON from the suit as defendants on the grounds that they were not necessary parties.

The plaintiff stated, in the suit’s originating processes, that shortly after the money was paid into his account on behalf of his clients, GTB made some disbursements from the account as directed, but that he was only informed on December 12 by an official of the bank that the Central Bank of Nigeria had withdrawn the N5.3bn.

He said that when he enquired from the bank why it made deduction from his account without his consent, he said GTB only insisted that the withdrawal was made in obedience to CBN directive, which it could not disobey.

Justice Ashi held in his judgment that GTB betrayed the banker-customer relationship between it and the plaintiff.

The judge held that it was wrong for GTB to have made withdrawal from the customer’s account without the customer’s knowledge and consent.

The judge held that GTB’s claim that it was helpless and that the withdrawal was at the instance of CBN was not tenable.


http://www.punchng.com/news/court-orders-gtb-to-refund-customers-n5-3bn-2/
Cc Lalasticlala Seun

Koroaso:
******THERE IS MORE TO THIS STORY************

*******5.3BILLION IS OVER 60MILLION DOLLARS*******

1-WHO IS TED EDWARDS
2-WHO IS HE FRONTING FOR
3-WHAT KIND OF HUMAN PARTS. ....SORRY I MEAN SERVICES DID HE RENDER
4-CAN EFCC INVITE MR EDWARDS FOR TEA
5-LATER THEY WILL SAY NIGERIA IS BROKE......WHO ARE THEY FOOLING...TED EDWARDS IS HE NOT A NIGERIAN?

please, answer the above questions, especially #4. Abi ole lefe ya ni, N5bn

Lol.

2n2k:
Nothing will hit the bank. The report was muddled up

The Accountant General paid N5.3billion to Edward's account for the benefit of his clients in January 2014. Edward started withdrawing the sum piecemeal based on the credited amount. During the year, the CBN ordered the recall of the entire N5.3 billion earlier credited for some undisclosed reason which Gtb must and complied with.

While Edward was right in suing GTB, CBN and Accountant General, the judge misled itself in excluding the CBN and accountant general as the defendants in the case. Is the judge saying a bank must disburse money that is no longer in its possession? He should know how cbn/bank relationship works. The CBN does not even need to require Gtb to remit the money back to it, cbn will simply debit the Gtb account maintained with it. It is now left for the bank to recover the fund from the customer

GTB still erred. What if the guy has withdrawn all the money? What would they have done? Won't they notify the account owner?

Koroaso:
******THERE IS MORE TO THIS STORY************

*******5.3BILLION IS OVER 60MILLION DOLLARS*******

1-WHO IS TED EDWARDS
2-WHO IS HE FRONTING FOR
3-WHAT KIND OF HUMAN PARTS. ....SORRY I MEAN SERVICES DID HE RENDER
4-CAN EFCC INVITE MR EDWARDS FOR TEA
5-LATER THEY WILL SAY NIGERIA IS BROKE......WHO ARE THEY FOOLING...TED EDWARDS IS HE NOT A NIGERIAN?


GMB/PYO
2015.

PS:APC NO SHAME US OHHHHH
WE DON TOO TEAR MOUTH.......SAY APC "CHANGI"
MEANWHILE WHEN WE SLEEP FOR NIGHT NA THE SAME PDP FACES WE DEY SEE FOR APC.................

Look at this slowpoke, do u think it is everybody that will not be able to put 1million naira 2geda in their lifetime like u? People are making good/legal money in this country, that is why we are saying improve urself and life will be better foru.

Simple english some of you can't read...Nairalander misleading people since 2006

Koroaso:
******THERE IS MORE TO THIS STORY************

*******5.3BILLION IS OVER 60MILLION DOLLARS*******

1-WHO IS TED EDWARDS
2-WHO IS HE FRONTING FOR
3-WHAT KIND OF HUMAN PARTS. ....SORRY I MEAN SERVICES DID HE RENDER
4-CAN EFCC INVITE MR EDWARDS FOR TEA
5-LATER THEY WILL SAY NIGERIA IS BROKE......WHO ARE THEY FOOLING...TED EDWARDS IS HE NOT A NIGERIAN?


GMB/PYO
2015.

PS:APC NO SHAME US OHHHHH
WE DON TOO TEAR MOUTH.......SAY APC "CHANGI"
MEANWHILE WHEN WE SLEEP FOR NIGHT NA THE SAME PDP FACES WE DEY SEE FOR APC.................

I always say same. PDP us APC

Imho, GTB can sue CBN since they acted on CBN's directives. The interest na die!!!! That's their only liability here and CBN should take the fall provided that there's proof of the directive.

My 2 cents on the matter.

Kbraims:
Hope it won't affect d customers...

I hope so o, I can't fit shout

naijainfogalery:
O boy see levels, So someone actually have more than 5 billion in his account wasting of to the extend that they illegally took out 5.3 billion and the fellow didnt die. Like seriously, five point three billion naira


Choi and some broke niggas will come here and start shouting the guy must have stolen money, keep hating and dying in poverty

Poverty he no go better for you. I curse you with every breadth in me, O boy see levels they took someone 5 billion and he didnt even burn down their bank he just took them to court,

I could remember one day that one man almost burnt down Access bank in ikeja for what reason? the bank illegally took 90 naira as SMS charge and 1,000 for ATM and the dude only has about 2,056 naira when they removed the money the dude has less than 1,000 and ATM only gives 1,000 cash, o boy see raking. he swore to burn down their bank that day and threatened to kill every body in the bank.

God please this is the stage i wanna get to and also connect me with people like this not those ones that still wanna finish the few small small money wey i dey gather dey do fine boy

this got me laughing like a baby.

lomprico:
Which kain case settlement go reach 5 billion?? I smell fraud.

READ AGAIN

kilokeys:
God bless ur Soul. maybe 1,255.. to withdraw 2,000..
i ll leave the 5 naira as donation for the 5 billion debt.
i no try?

That actually got me rolling on the floor

kilokeys:
how do i remove my 750 naira from my GTB account now?

LWKMDFH

jcmaiah:
Wetin the man defend to earn 5billion? did he defend Jesus?

Hahahahahahaha, my broda Abeg help me as them. hardwork doesn't justify success and riches in Nigeria, smart and illegal work looking legal does

I no dey kuku leave pass 200. For dem...no. wonder them collect 80naira from d acct yeye ppl...

kay29000:
WHAT!!? 5 Billy? Where TF are they gonna get that? But really, people make this much from court cases? Men! That's some crazy ish! Anyway,if you have problem lasting long in bed, hit me up on BBM- 7C22F6EC.

Na so you Wan take make your own 5 billion?

Funpeter:
this got me laughing like a baby.

I almost peed while reading it.

winnieG1:
Guys No Gobe for GTB, they simply removed the money and possibly used it as part of their capitalization fund, they are definitely going to withdraw from their capital fund . if u know how much they had made with the fund if they ve done biz with the fund, then u will realize that GTB was very smart and took advantage of the CBN policy.

Did you actually read the original post?