onatisi:
by the time this case is over
gtb will be in serious financial mess

By the end of 2017, Nigeria will divide

cold:
#boycottgtb

What is your account number in GTB, let's us help you close it down

Those working with GTBank should prepare for retrenchment come 2018 because this case has already damaged GTBank's image and people will now have trust issues with them which will lead to lots of top GTBank investors and customers possibly withdrawing their investment and assets....let's watch and see....mass retrenchment loading at Gtbank

These cheap bloggers and propaganda news... Not untill i read gtb's part of the story

Kingsley1000:
Igbos has suffered and tormented so much in the hands of hausa/fulani people since the inception of this country and SOME MISCREANTS ARE TRYING TO SUBJECT THEMSELVES TO ANOTHER ABOKI(atikuchukwu)

So, GTBank is Hausa?

Mehn na to run withdraw all my money for GTB before they carry it pay Innoson.

CaptainJeffry:
Now I can boldly say that GTBank is at fault here. Rather than beg Innoson for a soft landing, they resort to evil ways to avoid paying their debts.

I'm gonna take back my assets from them because of this.

I don't think your paltry 12k would hurt GTB.

Na wa o, the only indigenous car plant we have in naija is being robbed and bullied under the watch of Bihari like this! Hian! Nigeria is really messed up!

CowHard:
Mehn na to run withdraw all my money for GTB before they carry it pay Innoson.

All your #10 abi....

GT bank is a fraudulent bank. They should go and pay Innoson.I pity their customers Sha.

Osucoward:
Innosent the FRAUDSTER

You are really a coward.

itsdumebi:
Below are key points to know about this huge dispute as composed by Enyinnaya Appolos;

1 - At all Material times, Innoson Nigeria Ltd operates a Current Account with GTBank.

2 - Innoson obtained, and had repaid same, a loan of N1.3billion from GTB Which was secured with a legal mortgage of its properties valued at more than N1.4billion.

3 - Innoson discovered that GTBank imposed excess and unlawful charges in its Current account.

4 Innoson Group Complained to GTBank on his discovery of access charges on his account.

5 - Both parties ( Innoson and GTBank ) agreed to invite an independent auditing firm that will be agreed by both parties.

*6*- At the end, MULTI-WINGS Consulting Firm of Auditors was invited to properly audit Innoson Nigeria Ltd Current account No 0043753636 domiciled with Nnewi Branch of GTBank. The audit covers a period from March 2004 to Dec 2011.

7 - After the account was audited, it was discovered that GTBank has been illegally deducting excess bank charges on its overdraft facility to the Innoson to the tune of seven hundred and Eighty-Six Million, Two Hundred and Five Thousand, Nine Hundred and Fifty-Five Naira, Ninety-Nine kobo ( N786,205,955.99).

8 - GTBank was shocked at the audit report when the report was forwarded to it.They replied in their letter to Innoson on 20th January 2012 that it will investigate the issue raised and will get back to Innoson on the Conclusion of its investigation.

9 - In the month of September 2012, GTBank wrote to Innoson that from their personal audit report, the excess bank charges was Five Hundred and Fifty-Nine Million, three Hundred and Seventy-Two naira, Nine kobo ( N 559.3Million).

10 - Innoson agreed to their version and decided to accept payment from it in the spirit of amicable resolution.

*11*- Innoson also requested that the said agreed amount of N559.3million be paid with a 22% interest rate because Innoson had been repaying all his loan with GTBank at 22% interest rate.

12 - GTBank refused and said that the best they can repay excess and illegal deduction is at 7% interest rate . This led to another disagreement between Innoson and GTBank.

13 - As a result, in 2012, Innoson sued GTBank at Federal High Court Awka with Suit No: FHC/Awk/ Cs/2012.

14 - Federal High Court, Awka delivered Judgement in favour of Innoson in excess of N4.7billion against GTBank.

Delivering Judgement in suit no: FHC /Awk/ CS / 139/2012, the FHC awarded N4.7billion to Innoson Motors against GTBank.
The court also ordered GTBank to pay 22 % (percent ) interest on the Judgement debt until all the payment had been made to Innoson.

15 - In 2013, GTBank appealed against the judgement to the Court of Appeal, Enugu Division, appoxite appeal No: CA/ E/288/2013.

16 - The Court of Appeal, Enugu in a Considered ruling ordered GTBank to pay the Judgement debt of N6billion Inclusive of the accrued interest and any interest that would subsequently accrue thereon into an interest yielding account in the Name of the Chief Registrar of the Court.

17 - In its various affidavits, particularly at the Court of Appeal in suit no: CA/ E/288/2013, GTBank deposed that if it pays the outstanding Judgement debt of N6billion, much less the N8.5billion, it could go bankrupt and be out of business.

18 - GTBank went to the Supreme Court.The case is still in the Supreme Court, while the Judgement debt is about N8billion now to be paid to Innoson by GTBank.

Other Cases:
IBADAN Case: Innoson /GTBank/Nigerian Customs Service :

19 - Nigerian Customs Service Auctioned Innoson goods.

20 - Innoson challenged the action Nigerian Customs Service for auctioning its goods at Federal High Court, Ibadan.

21 - On July 29, 2011, In a Garnishee Order Absolute, the Federal High Court sitting in Ibadan ordered GTBank to Pay Innoson #2,048,737,443,67 (#2billion) from Nigerian Customs account in GTBank.

22 - Rather than Comply with the Garnishee Order Absolute of the Court , GTBank on February 6, 2015 appealed the Judgement , but the Court of Appeal in Appeal no. CA/1/258/2011 affirmed the Judgement of the Federal High Court and ordered GTBank to pay the Judgement debt of #2,048,737,443.67 (#2.048billion) to Innoson .

23 - GTBank , instead , appealed to the Supreme Court against the Court of Appeal's decision where GTBank claimed through a motion in suit no : Sc /694/2014, that the Court of Appeal Judgement in Ibadan (CA/I/258/2011) was procured by suspicious means .

24 - On May 12, 2017 , Supreme Court in its wisdom and rightly , dismissed that unfounded and exasperating claim of GTB against Innoson .

25 - As a result , Innoson commenced a N400 billion suit against GTBank , in the suit No: FCT /HC/CV/2448/2017 at the High Court of the Federal Capital Territory, Abuja .

#Another issues

26 - Consequently , in order to save itself from paying the outstanding Judgement debts to Innoson , the GTBbank filed a petition against Innoson alleging forgery which led to the suit No : FHC /L/565C/2015 by Police .

27 - On February 17, 2016 , Police properly and Competently withdraw the charges against Innoson , saying they needed to properly investigate the bank's complaints first and see if they had merits .

28 - On September 1 , 2014 , GTBank secured an ex parte order on Innoson Nigeria Limited, dated September 1, 2014 with suit no FHC/L/CS/1119/2014 , filed before a Federal High Court in Lagos , between GTBank and Innoson Nigeria Limited , issued by *Justice Okon Abang* , ordering that , pending the hearing and the determination of the substantive suit , all Commercial Banks in Nigeria were restrained from accepting in any manner whatsoever to any mandate or instruction presented to them by Innoson Companies or any of its agents or nominees for withdrawal of any sum of money standing to the credit of any account maintained by the company in all the banks.

29 - However , on June 10, 2015 , *Justice Saliu Saidu* of the Federal High Court , Lagos , in a Considered ruling set aside the ex parte order of September 1, 2014 , by Justice Okon Abang and the writ of summon as well.

30 - Innoson then slammed a N30 billion suit on Guaranty Trust Bank for what it had suffered in monetary terms and reputational terms during the months when the accounts of its companies in all Nigerian banks were frozen. With Innoson winning both cases at the High Court and both cases at the Appeal Court, and GTB appealing, both cases are awaiting the verdict of the Supreme Court. Meanwhile the fresh N30 billion naira suit has just gone to the High Court to start its legal journey.

https://politicsngr.com/2017/12/20/innoson-vs-gtbank-30-key-points-know-dispute/

I am going straight to close my account from GTbank! I said it earlier that banks are super thieves! Owe them and see what they will do to you!. No wonder my Hausa brothers; most of them don't do banking. Imagine threatening to close Innoson's business!!!

onatisi:
by the time this case is over
gtb will be in serious financial mess
paying over 8 billion naira wont be an easy task for them

By the time he start to mention those politicians that helped him to secure waivers to clear consignments without ORIGINAL FINAL SHIPPING documents that is still in possession of GTB, many politicians will go to jail.

The question is Who is the designated CONSIGNEE on the Bill of Lading?

8 billion ko, 800 billion ni
You all can see that GTB has maintained a very dignified silence, let Innoson keep pushing out his own narratives.

For those who think that Hausa fulani are the one intimidating and marginalizing Igbo better think other wise because the major problem Igbo has in Nigeria emanated from Yorubas . This people are so tribalism and they hated Igbos with passion always inciting Hausa against Igbo to have their ways.

GTB is on a speed lane to self destruct. As a Bank, this is the most unwise method to settle this type matter. Many companies will certainly think twice before any serious engagement with GTB, even if the Bank is right. The reputation of the Bank will continue to nosedive as long as this case lingers.

For now, it is very clear to all that the Bank is desperate to avoid this payment so as not to go bankrupt. Should the Supreme Court uphold the decision of the Appeal Court, the general public might go into panic withdraws which may likely collapse the Bank finally.

Whichever way this matter ends, the Bank will be the looser because of the negative public awareness created by the case which the Bank invited on itself.
I wish them luck shaaaa!

ednut1:
most people accept anything they see in bank statements. most companies don't follow the agreed repayment plans cos of shortage of fund and other tins. so there is usually restructure ,management or late penalty fee. the banks use dat opportunity to perpetrate the scams

Hmmm., Thanks . It is pitiful

please let GTB release a statement. i wonder why the federal Government is not throwing its big wings into this.
You cant touch bill gates of America like that. You don't put the reputation of someone who single handedly is growing the economy.
Who is our president? if it is buhari or the cabal please they should quickly call both parties to other because this have economic implication.
People are sentimental because this cannot happen to a northern businessman in Nigeria for goodness sake.
I am only asking that they pay him his money and let him have his peace. What a country

ProWalker:


By the time he start to mention those politicians that helped him to secure waivers to clear consignments without ORIGINAL FINAL SHIPPING documents that is still in possession of GTB, many politicians will go to jail.

8 billion ko, 800 billion ni
You all can see that GTB has maintained a very dignified silence, let Innoson keep pushing out his own narratives.

leave politics out of this issue
the guy has won all cases so far from high court to the appeal court

how he got his waivers isnt any concern of gtb and they themselves will be too stupid to even start going into that , the issue on ground is the excess charges on his account and that is what the court is looking at and giving judgement upon

the issue of consignments is that of customs , even gtb themselves have admitted but the bone of contention is the percentage of interest he wants on the money deducted , he wants 22% while gtb is offering 7%

Viergeachar:
This post is biased, seeing it's from a sympathetic flatiyeasterner.

After all said and done, Innoson, one of 'biggest' ibo industrialists is in detention.

Too bad!

At least he did not pee in his pyjamas like that richest Yoruba 'businessman' Mike Adenuga did in 2006, when the EFCC zombies came knocking at his door in Victoria Island. After playing hide and seek for hours, your foremost Yoruba businessman Adenuga was bundled out of his wardrobe where he was hiding like a wall gecko, with his boxers and pyjamas drenched in urine out of fear.

After crying and begging in detention for 4 days, and after the likes of General David Jemibewon and Oba Sikiru Adetona (Awujale of Ijebu Kingdom) begged on his behalf, he was released on bail, only for him to scamper away wearing only his boxers to Ghana... Where he remained in hiding until Obasanjo left power and Yar'dua and Jonathan pitied him and asked him to return.

Innoson would not be such a coward. It's not the Eastern way to be such a coward.

Uchihaitaci:


Before i start please note i am Igbo.

Please Biafra is who's last hope? are you an orphan? or a mentally challenged individual? Which rubbish Biafra? is it the fraud of an idea that thief Nnamdi Kanu was peddling?
I can understand why the Late Ojukwu started Biafra then, as there was a clear and credible threat of genocide and mass murder against us but what i s the ideology behind the rubbish Nnamdi kanu was preaching for?

A south eats where you cannot even call Okorocha to order? A south east where a governor named his sister minister for happiness? and yet everyone kept quiet?

Seriously?

You want me to support a nation ca;led Biafra where governors like Okorocha will be the leader? Apart from Willie Obiano name one governor in the south east who has shown integrity, accountability and vision?
and you want to form a country with these leaders? so tomorrow they will form ministry of dildos or ministry of sexual fantasies?

My late dad always said if you cant manage $10 you ca not then magically manage $1000 either.

If we as a major ethnic group cannot manage the currently independently governed states and hold their governors accountable is it a whole region made up of all the states called biafra we will manage?

Or does the name BIAFRA suddenly make everything okay?

If biafra is your last hope my dear you might a well commit suicide

Shvt up! If u are really Igbo as u claim, is that how u insult your brother in a public forum when he expresses a different opinion? Speaking of Okorocha, tell me one Nigerian governor that has been called to order by the people in Nigeria. As if you don't know how powerful a Nigerian governor is!

I am proudly Igbo, and I don't share the Biafran sentiments of my brother, nevertheless I don't attack them openly because they have genuine reasons of seeking Biafra. And yes, I merely advise them with strong points as to why they should gettison the idea NOT write nonsense on public forums.

Learn, stop being childish if you are indeed an Igbo adult.

Ka eme sia!

ProWalker:


How many Ibos you know have account with GTB?
Tell your Igbos brothers and sisters working in the bank to also resign.

If you Ibos want to make this purely business case an ethnic issue, you will see where it will land Innoson.

You have taken this to a different level entirely.

The fact that I mentioned igbo traders does not mean I'm making it an ethnic issue. I stated what I was sure of. Some other tribes that were in support of innoson could have withdrawn.

And the igbos I know that bank with GTB are many.....my family, church members, village age grade members, neighbours, clients and customers.... Dem plenty bros.

Since you have taken it to this tribal level, let me also remind you that innoson has a lot of yoruba employees

humilitypays:
Those working with GTBank should prepare for retrenchment come 2018 because this case has already damaged GTBank's image and people will now have trust issues with them which will lead to lots of top GTBank investors and customers possibly withdrawing their investment and assets....let's watch and see....mass retrenchment loading at Gtbank

That is what you think
Didn't' your brother Innoson see Diamond Bank and Fidelity Bank before going to GTB? He knows the bank that have the best foreign correspondence banks in Nigeria willing to open the LC for him.

Obviously a lot of you are talking with your village mentality.

Osucoward:


See thieves

Not be theft. Na where dat innoson man dey go be dat. Him won buy GTB. From the look of thing, the law is no his side. This case might kill GTB

ProWalker:


By the time he start to mention those politicians that helped him to secure waivers to clear consignments without ORIGINAL FINAL SHIPPING documents that is still in possession of GTB, many politicians will go to jail.

The question is Who is the designated CONSIGNEE on the Bill of Lading?

8 billion ko, 800 billion ni
You all can see that GTB has maintained a very dignified silence, let Innoson keep pushing out his own narratives.

Most of these Igbos can't use their sense to see that, the man is not telling us the whole truth. How can a complainant win a court case and the court asked the defendant to pay a compensation and the defendant will still use EFCC to arrest the complainant? It is not possible, if innoson didn't do something fraudulent or forged a document, GTB would have settled out of court and see how they can reduce the compensation fee with apologies. Rather, they are using EFCC against him,this to me doesn't sound like victimization but a clear case of Forgery with documents presented to court.

I repeat let's wait for GTB to release a statement or wait for the Supreme Court judgement.

pp802:


You have taken this to a different level entirely.

The fact that I mentioned igbo traders does not mean I'm making it an ethnic issue. I stated what I was sure of. Some other tribes that were in support of innoson could have withdrawn.

And the igbos I know that bank with GTB are many.....my family, church members, village age grade members, neighbours, clients and customers.... Dem plenty bros.

Since you have taken it to this tribal level, let me also remind you that innoson has a lot of yoruba employees

That is enough fact to knock off your argument. Almost all of you have been harping on tribal sentiments as against business sentiments.
What do you mean by Igbo Traders if not tribalism?

SoNature:


Shvt up! If u are really Igbo as u claim, is that how u insult your brother in a public forum when he expresses a different opinion? Speaking of Okorocha, tell me one Nigerian governor that has been called to order by the people in Nigeria. As if you don't know how powerful a Nigerian governor is!

I am proudly Igbo, and I don't share the Biafran sentiments of my brother, nevertheless I don't attack them openly because they have genuine reasons of seeking Biafra. And yes, I merely advise them with strong points as to why they should gettison the idea NOT write nonsense on public forums.

Learn, stop being childish if you are indeed an Igbo adult.

Ka eme sia!

When and where did i insult him?

I just suggested he commit suicide and how is that an insult?

if you have nothing ti say shut up

until we can channel our energy to developing the south eats and making it a viable destination for foreign investment then we are going no where. Biafra we seek should start with us and our governors .. A GOOD LESSON IS TO BE LEARNT FROM OGUN STATE !

Wailing solves nothing, neither does playing the victim

CaptainJeffry:
Now I can boldly say that GTBank is at fault here. Rather than beg Innoson for a soft landing, they resort to evil ways to avoid paying their debts.

I'm gonna take back my assets from them because of this.

It seems innoson always win his case.

Watch the next move.

Innoson slam 200,000,000 law suit against EFCC.

Innoson wins

If this was true, then GTB needs some serious staff overhaul. From the auditing guys to accounting then to their legal team. How did they overcharge Innoson in the first place. See where greed landed them. Instead if paying the money when it was still reasonable, they resorted to protracted legal cases and now the money has doubled. Only cbn can resolve this issue else it's adios gtb

Osucoward:


Chestbeater
Innosent will pay his debts

My dear, I am not IBO but I am happy with what Innoson did and for your info, the question is not who is owing who but how much are we (GTB) owing you (INNOSON)!

GTB come over here and tell us what really happened

Visit : http://anstalk.com/massive-drop-in-the-price-of-foodstuff-in-southeast/

Xisnin:



You don't know what banks stand for.

a bank can have over 800 billion in its account, that does not means they own the money. There total net worth might be just 20billion. Read well they said they cant pay the 6billion debt bcs they might go banktrupt. Have u not seen bank going broke and put it up for sale? What if innoson wins the new 400billion suit. Tell me where they are going to get the money from ? Bcs from the above write up gt bank is in mess thats why i said there are in mess. Ordinary 6billion they cant pay talk more of 400bn.

ProWalker:


That is what you think
Didn't' your brother Innoson see Diamond Bank and Fidelity Bank before going to GTB? He knows the bank that have the best foreign correspondence banks in Nigeria willing to open the LC for him.

Obviously a lot of you are talking with your village mentality.

Don't mind those flatheaded blockheads which foreign bank would recognise Fidelity or their 2kobo banks?

The problem most Igbos have is that they are merely traders, they are ignorant of the intricacies of international commerce.