Nigeria’s first indigenous automobile manufacturer, Innoson Motors Nigeria Limited, has slammed a N30 billion suit against Guarantee Trust Bank, GTB, as a result of damages the company suffered following an ex parte order of Mareva Injunction, which GTB applied and obtained, freezing Innoson’s accounts in all the banks in Nigeria.

However, on June 10, Justice Saliu Saidu of the Federal High Court, Lagos, in a considered ruling set aside the ex parte order of September 1, 2014 and the writ of summons as well. The running legal battle between Innoson and GTB started when Innoson challenged the action of Nigerian Customs Service for auctioning its goods.

In a Garnishee Order Absolute, the court had ordered GTB to pay Innoson N2,048,737,443.67 from Customs account. Rather than comply with the Garnishee Order Absolute of the court, GTB on February 6, 2015 appealed the judgment, but the Court of Appeal in Appeal no. CA/1/258/2011 affirmed the judgment of the Federal High Court and ordered GTB to pay the judgment debt of N2,048,737,443.67 to Innoson.

GTB, instead, appealed to the Supreme Court against the Court of Appeal’s decision. In another suit, Innoson sued GTB for imposing excess

- See more at: http://www.vanguardngr.com/2015/06/innoson-slams-n30-billion-suit-on-gtbank/#sthash.dQWjUgGt.dpuf

Baba innoson, GTB will pay both that amount is much

Let me quickly move all my cash from GTB before they use it to pay INNOSON



Account officer I'm on my way ooo

most bank are not meeting up to their promise to customers for secured and value added services to all their customers

What is happening at GTBank? I have been reading about different legal issue against the bank. I hope they won't bring this bank down. If it is processes, GTBank should look inward and sanitize.

Bankruptcy Alert!!!!
All GTB customers this is a good time to port to safer banks