Sprumbabafather:
What I think?

GTB is afraid of losing this case against Innoson at the supreme court like they already did in three courts before.

So they resorted to self help by reporting an infraction to the EFCC so as to gain an advantage over Innoson.

GTB should have submitted their findings to the courts and tendered the said forged documents to the courts as additional evidence. The courts will then be in a position to either decide the case against Innoson and punish him according to the law.

The unlawful arrest of a businessman over a case pending in court is a bad idea that will hurt GTB going forward.

Those documents are not part of the court case so it can't work the way you suggested.

so those pigs threatened to boycott GTB still dey use/spend our Naira .What happened to biafra pound?Let those fake,counterfeit, substandard developers continue to deceive demselves

A bank that deducts upto to 1k as sms charges.. is that one a bank? Thiefs... I've closed my account with dem since tey tey.

Ndigbo showed solidarity with their brother Innoson, while you showed solidarity with your ethnicity by rising in defense of GTB because it was founded by persons of the same ethnicity as you.

Yet, you turn around to accuse the Igbo man of being a tribalist. Did you not exhibit the same tribal sentiments as the same people you are accusing?

Let me ask you, since when did it become unacceptable to you that Ndigbo should never exhibit kindred spirit towards their own, particularly when he/she is unjustly persecuted?

People of other ethnicity love self preservation of their own a lot. But when the Igboman exhibit the same love for his kind, he will be called names. If calling us tribalists is okay by you because we stood for our own, then, we are happy to be called tribalists.

RUBBISH!

#IStandWithInnoson

Nasir123:

I believe you know the duty of EFCC(financial crime). All we should be doing is to make sure they do the right thing.
People should stop defending people for ethnic sake. Non of us is there for the deal or scam.
When the elite want to use your head they screams, but when they share meat among themselves you don't hear them talk.

This generation should wake up for the good of the future.

God bless Nigeria.

I like the last lines of your write-up... However, the Efcc has no right whatsoever to arrest a person whose case is in the highest court of the land without an arrest warrant. The Efcc is not higher than the court, because at the end of the day, it is still the court that will find him guilty or innocent. The Efcc have acted very foolishly, that's why they don't win any case in court.

AnodaIT:
You dey protect depositors money by making illegal transaction charges abi?

I actually held the like button long enough for the love smiley to pop up like Facebook, just because I love what you have said. Our banks have turned to house of thieves that we need more people to sue them for illegal deductions.

PrecisionFx:



Wow!!!

Pls why haven't GTBank brought this Fogery claim since 2011/2012?

GTBank has already lost this case in more than 2 different courts.

My answer for you is that, they have the right to protect the image of any of their customer.If in the end we found out that GTB is right, will trust your hard earned money to buying Innoson product.Know He can forge anything forgeable.All na business.Igbo kwenu

usba:


I have never seen such foolishness except from ipob ingrates who defend thieves and criminals

stop all these childish tribalism... as an entrepreneur, am concerned because what the bank did is totally wrong, na today people dey collect money from banks, my father once collected loan from the bank and they were overcharging him... He sued them to court and won. For a case that was already in court, Kai, GTB fumble!!!

greiboy:
No suddenly an appeal court judge granted the efcc the authority to continue there investigation before inoson filled it before a supreme court, but the supreme court hasn't grant inoson a stay of the appeal court judgment yet. Hence, efcc continued with its investigations

If efcc is really eager to investigate cases..Wat of Mainas case, SGF, ikoyigate..my brother make we hear word

Gtb is fraudulent, if you are banking with the bank or have banked with the bank you will understand saying

We can be taking sides for what we know is glaring to us

Innoson has won in different courts where has been sued or he sued them I think that is to tell you that he did a clean business with this so called gtb but know one will say the truth because the affected is coming from SE

We should always look at issues very before commenting please

Oga company secretary who succeeded in blowing grammar without making any reasonable point.

Meanwhile, what were you doing as the head of Legal Department of GT Bank while Innoson was rubbishing you guys in various courts in the land?

U guys have picked on the wrong victim...

It's people with N10000 in their account that will be shouting close your account. My question is how many IGBOS have bought a car from him.Even the government of his state did not buy from him.I have over 20 Igbo friends and none of them uses his product.Igbos are the ones doing themselves.Such a shame.

Diiet:
No.
Because he reneged on the agreement he made with the bank from the start.

Will you mind enlightening the general public on what those agreement are?

Obinwenite:
Gtbank,that 1 na bank......anyone still banking with gtbank is on there own.

You can go n kill yourself on the behalf of those still banking with them.

GTB is for APC. I have already withdrawn all my cash there. If you wait to hear the last whistle na you sabi. Let them go and settle Mr. Innoson jor.

I love the good job innoson is doing from the se of Nigeria but I love gtb, my bank more, so, I prefer the case settled amicably.
Let them resolve and fairness be done... my stand.

Owaincouncil:
The letter was even signed by one of their brother.
And they claimed that Gtb is for Yoruba alone.
One love please.

Check your facts before commenting please! .

ole bank
pay the fine

Still On Innoson GTB Wahala, this Yoruba Dude Ade King Ebimomi made a very fantastic & unbias Assessment of the Whole arguments.

Read below:

Look, let's stop this sentimental posturing of a GTBank being largely owned by Southwesterners and so we should ignore their ignoble, shameless and totally sick moves.

Personally, I don't give a hungry rat's tail if the bank is owned by a clan from my village or men from outer space.

Neither do I care if Innosson Motors is owned by aliens from Pluto or some Eskimos.

That's sentimetal nonsense to me.

And it should be to any right-thinking, non-emotional and rational person.

The fact of the case is this: GTBank, an institution that has served my banking needs for close to a decade, with mixed results, advanced a loan to Innosson Motors some years back.

That was a purely business decision - one taken with the ultimate benefit of GTBank in mind.

I've been in the finance business for close to three decades.

I have plied my trade in two of the world's most advanced and most sophisticated financial economies of the world - the United States and the United Kingdom in those nearly 30 years.

I have been very deeply involved in the origination, processing, underwriting and approval/rejection of loan facilities of all hues and colours in that period.

Not once have I come across - or taught in any classroom - that banks grant loan facilities because they lobe the colour of your underwear.

Banks don't give loans with sentiments as their over-riding (or under-riding self) criteria.

GTBank gave the loan facility to Innosson because 1. Innosson provided a solid business plan, with provable and reliable and dependable repayment potentials, and 2. Because GTBank stood a very good chance of profiting from the transaction.

So who cares if Igbocentric or Igbo-owned institutions such as Zenith or Diamond banks looked the other way when GTBank was taking the business of chopping from Innosson's expected business windfalls?

It was their loss, simplicita.

And a much bigger loss when you realize that, over the years, GTBank has reportedly stolen big from Innosson by way of 'deliberate' overcharges - a nearly-criminal but certainly morally wrong and definitely unethical practice EVERY bank in the land engages in.

So Innosson and GTBank's auditors found out that GTbank has quietly 'stolen' well over N700million from Innosson.

GTBank's privately-engaged auditors said "mba, it's not N700m. It's only N500m and some change by our findings".

Okay, no hassles, says Innossons. Pay us the 500m and some change.

And add the 22% interest that you, GTBank, has been charging others when they use your money, Innosson respectfully asked them.

GTBank countered: "Innosson, you're not a bank. Yeah, we stole your money to the tune of only 500million plus change but we won't pay the 22% interest you're asking. We'll only pay 7%".

Innossons cried 'foul!', and headed to the courts.

The first line of courts gave Innosons victory and ordered GTBank to pay all owed monies and acrued interests. A mind-boggling N5billion (mind-boggling to a broke ass dude like me, sha. It's chicken change to some people).

GTbank demurred.

They went upstairs, to the Appeals Court.

They got beaten black and blue again. Pay the money you owe, you stealing scoundrels, the Appeals Court seemed to say.

For wia? "Thieves" don't like to cough out what they've swallowed.

So GTBank continued their hiding-behind the judiciary exploration to the Supreme Court.

While the matter was waiting to be heard at the Supreme Court, GTBank developed a brainwave - their lawyers have probably told them, "Guys, we don't stand a chance here o. The decks are seriously stacked against us. Let's find another way, most certainly extrajudicial way, to beat this Innosson guy o. Otherwise, this his money, which has now climbed to N8 Big Ones, will sink this our organization o."

I know how big organizations behave when an adversary they had once thought couldnt scratch them, now start giving them jaundice.

I once had the Central Bank of Nigeria in a very choking corner. Little me with my limited resources and only one shenkele lawyer, beat them to a submission with their array of high-prized lawyers, including a couple of SANs.

And they tried to turn the squeeze on me. But I held on, steadfastly.

Just as Innssons is doing right now.

So Innosson Chairman woke up this morning, and found a battalion of EFCC goons in his sitting room.

Their mission? To arrest him for, according to reports, some discrepancies GTBank suddenly discovered in the application he made for the loan facility that was advanced to him years ago.

Okay, why use the might of the EFCC? To intimidate him to submission and forgo his case that was due to be heard by the Supreme Court?

And where have your auditors been all these years, GTBank? And your Credit Department people? You're just discovering anomalies in a loan application that was made an ion ago?

Pray, GTBank, who are you kidding?

Look, all of you dancing skelewu on the ringside of GTBank, seeing the rest of us as Igbo-pleasers, get a life: an injustice is an injustice.

And if you're too blinded by ethnic jingoism to see that GTbanks and all these cursed scam houses who call themselves banks are daylight robbers, that's fine.

But don't come out here and claim that, because some emotional people see the fight between GTbank and Innosson as a Federal govermnet vs Igbo thing, those of us who are above the pedestrian, idiotic and foolish ethnic sentiment, are only trying to pacify and lick the akpu-laced ass of our Igbo friends.

We are simply waaaay above that kind of simplistic fray.

I have always said this: to steal from the bank, just own a bank.

That phrase has never been brought home nearer than how GTbank and its banking cohorts have been stealing the populace blind in the name of banking.

For those of you who don't understand how credit transactions or or the matter of overcharging works, or you simply can't wrap your head around the fact that banking is neither an emotional pastime nor a sentimental trip, you'll do yourself a world of good by simply sticking to that thing you very well know how to do.

greiboy:
Mr man the case has been with efcc before the court cases

Mr man show us evidence dat d case has been with efcc b4 d court case. At least innoson showed evidence of d 3 court judgement past in his favour, b4 gtbank used efcc on him

FunkyAlhaji2015:

Innoson has succeeded in putting himself in a very bad situation. As a business man with international partners, this whole saga is a very big dent on his integrity. Most foreign businessmen believe that a man with no integrity is no man at all. Secondly, only 3 banks can comfortably provide the kind of financing his business needs, GTB, Zenith and Firstbank. Firstbank is now controlled by northerners, GTB he has soil is relationship with. Thirdly, he has succeeded in embarrassing the government of the day with his accusations. Businessmen don't do this, see Dangote, Otedola and Adenugas, they always romance with the government at the centre for ease of business. The government can face him out with just a single policy. He would have honoured the EFCC invitation quietly without turning the whole situation into a circus.

I love this,so true. Thanks man and also Nasir. Its high time we face the facts in issues we read here rather than behaving immature like raining abuses on tribes and people yet tomorrow we'll queue up at fuel stations in the one voice blame the govt for the fuel crises.

Diiet:
one thing verry clear is that innoson has shown himself in a verry bad light, and other banks would be afraid of granting him credit facilities. This saga will end up having negative impact on his business.

Forget joor
Is it not when he has already made it in Nigeria before bank will start following you begging you to come and collect credit facility.
Ask Linda ikedia
Ask Tantalizer
As
He has the money bruuh.

davires:
It's people with N10000 in their account that will be shouting close your account. My question is how many IGBOS have bought a car from him.Even the government of his state did not buy from him.I have over 20 Igbo friends and none of them uses his product.Igbos are the ones doing themselves.Such a shame.

You are a liar.
Govt of Anambra state patronize innoson motors.
The govt distributed the vehicles to all security agencies in the state.

ettybaba:
God bless GTB.
We shall know the truth soon.
Most Nigeria so called successful businessmen are rogues though.
I know because I bought shares in over 20 companies in the banking sector alone.

you say he forged documents and yer he has won GTB in 3 previous court cases
...or did they not find out then ?I believe GTB should bite the humble pie and seek a better and more matured approach towards resolving this matter ...what I wonder is who is sponsoring this whole move? Then to all of us cyber warriors that can only rant on social media ..if we try to shove tribal sentiments aside and begin to reason properly things would start working well but until then ...I'm afraid that this country is already divided..we are clamoring for development and somebody is working towards putting this country on the global map positively ...and yet we are still the same people dragging him down

eagleeye2:

Will you mind enlightening the general public on what those agreement are?

you can get the details in one of the articles in yesterday's premium times newpaper. You can also search it online.

oderemo:

Keep quite. Go and read the case file and come back here.
Nothing abt. Relocation said, ok.

Shut up. Thatz d truth behind d whole saga. Aboki n afonjas r envious abt innoson's success

This GTB story (I would say super story) does not make sense at all.

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”)

GTB granted loan to innoson totalling N2,4 billion to import motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment.

2. Under the loan terms agreed by Chief 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.

This is the part I do not understand. Innoson took a loan to import goods, but the imported goods still remains the property of the bank. How does that work. Was innosom supposed to be paying interest on loan for the goods, when the goods is still the property of the bank?

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.

So GTB was the exclusive owner of motorcycles and motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment? So what does GTB want to do with these goods?
The condition in the agreement is also strange. Before innoson can claim ownership of the goods, it must pay 25% of the value of each letter of credit. Now from where will innoson pay the 25% of the letter of credit? From the loaned N2.4 billion or from another source from another bank?

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.

Since the bank declined to release the shipping documents to innocent chukwuma, what did it intend to happen with N2.4 billion worth of good stuck at the ports gathering demurrage. What did it intend to do with the goods? And how does the Bank intend to recover the N2.4 billion it used in importing the goods.

Did they intend that innocent Chukwuma would be paying 22% interest on a N2.4 billion loan he was yet to take custody of?

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.

It came to the knowledge of the bank a full two years after it imported N2.4 billion worth of goods, that the goods had been cleared with fake shipping papers by innocent Chukwuma. So if innocent chukwuma had not cleared the goods, N2.4 billion worth of goods would have been rotting at the ports.

I am really tired of this cocktail and bull story. The excuse was poorly thought out. The person heading the media department of GTB should be fired.

kabarka:

You are a liar.
Govt of Anambra state patronize innoson motors.
The govt distributed the vehicles to all security agencies in the state.

please show pictures and is Anambra the only Igbo state?
PS:Do you have an Innosen motor?

sureheaven:
Only Igbos and some illiterate folks belive in only what inoson said. GTB is a standard bank known all over the world for its best service.

...and also being manipulated by app scam

sureheaven:
Only Igbos and some illiterate folks belive in only what inoson said. GTB is a standard bank known all over the world for its best service.

...and also being manipulated by apc scam