Guaranty Trust Bank is too big to fail, no matter the amount judgement given against it.

Court ordered 8b naira judgement, the bank made over 180b naira profit last year.
So this judgement is like a drop of water in a pond. Yet a section of the country has been jubilating that their drop is what filled the pond.

Moreover, if GTB failed businesses in SW would be most affected and the govts in SW would loose business tax revenue. Laid off staff will swell the unemployment index and the loss in productivity will lower gdp in the region. So as a last resort, and to prevent these economic and social negatives SW govt will act responsibly and intervene to block the loss.

So to the section of the country jubilating, GTB is too big to fail!

#gtbtoobigtofail

When they were arresting this man every week with both Efcc and Dss you never reminded them that they are rich and should better settle with the man out of court

Enough of all these

The bank is that rich yet could not pay the gentleman his money, just N2bn?

they threatened him with both Dss and Efcc just because Osibanjo, a brother to the bank's CEO is the vice president

Your eyes will soon clear.
Am sure that since yesterday you are restless .
GTB fuckup will be treated.
Congrats innoson

Same way we thought of diamond bank...it's too mighty to fall..

Gtbank,made profits of billions yet to pay off 8billion naira, is an herculean task, even to the extent of staking it's reputation..

Illiteracy is what is causing some to jubilate.
They don't know that "take over" does not mean what they think it is.
Inoson will never be a board member of GTB, no matter how hard he tries.

richidinho:
When they were arresting this man every week with both Efcc and Dss you never reminded them that they are rich and should better settle with the man out of court

If you ignore court summons too many times the court can issue arrest warrant to bring you in. Also if an import transaction is flagged as a criminal intent to workaround customs and avoid detection, or the documentation falsified to give wrong info and mislead you can be arrested.

Customs answered your concern when Innoson was arrested, maybe you missed it.

Gtb is not igbo owned diamond bank.

stephleena:
Same way we thought of diamond bank...it's too mighty to fall..

Gtbank,made profits of billions yet to pay off 8billion naira, is an herculean task, even to the extent of staking it's reputation..

Diamond bank is not as rich as Gtb.

richidinho:
Enough of all these

The bank is that rich yet could not pay the gentleman his money, just N2bn?

they threatened him with both Dss and Efcc just because Osibanjo, a brother to the bank's CEO is the vice president

You guys have all sorts of conjectures and unintelligent ways of consuming news. Please go and find the response given by Customs to this issue few months ago and educate yourself.

MetaPhysical:


You guys have all sorts of conjectures and unintelligent ways of consuming news. Please go and find the response given by Customs to this issue few months ago and educate yourself.

Do you want me to dig up your comments then when Efcc in their usual manner told us innoson forged documents and bla bla bla?

Innoson taking over GTB doesn't mean owning the bank as a one man business, it means being drafted as one of the Directors because of the number of shares N8.2 billion is worth.

Investing N8 billion shares worth of equity in any Nigerian bank is definitely a Director's position.

GTB failing is out of question hence your argument is preposterous.

Amarabae:
Your eyes will soon clear.
Am sure that since yesterday you are restless .
GTB fuckup will be treated.
Congrats innoson

Amarabae, I have no reason to be restless but I have concern about the panic. There is no need for the noise and fear and shouting up and down and urging people to go and take their money out of the bank. I bank with gtb and I did a thorough study of their solvency and credibility before I put my money with them. This judgement does not scare me for the reasons i stated in my opening input. GTB is too big to fail my dear, and I hope you bank with them also, if not I want you to.

MadamExcellency:
Innoson taking over GTB doesn't mean owning the bank as a one man business, it means being drafted as one of the Directors because of the number of shares N8.2 billion is worth.

Investing N8 billion shares worth of equity in any Nigerian bank is definitely a Director's position.

GTB failing is out of question hence your argument is preposterous.

The judgement cannot direct how the penalty is applied, no courtroom has that power.

The choice to convert to equity will be a board decision since it will translate to votes. Therefore the chances of the board approving such an application does not even appear probable.

The most they will do is what is called debt trading.

It is only insolvent banks that debtors take over after getting judgement and securing receivership. In the case of GTB that does not apply.

richidinho:


Do you want me to dig up your comments then when Efcc in their usual manner told us innoson forged documents and bla bla bla?

It is open to you, why are you waiting for my approval? I said dig up customs response, you again failed to read and digest.

MetaPhysical:


The judgement cannot direct how the penalty is applied, no courtroom has that power.

The choice to convert to equity will be a board decision since it will translate to votes. Therefore the chances of the board approving such an application does not even appear probable.

The most they will do is what is called debt trading.

It is only insolvent banks that debtors take over after getting judgement and securing receivership. In the case of GTB that does not apply.

They have already started the process of sealing and selling
https://www.dailytrust.com.ng/we-have-sealed-7-branches-of-gtb-bank-to-recover-debt-innoson.html

stephleena:
Same way we thought of diamond bank...it's too mighty to fall..

Gtbank,made profits of billions yet to pay off 8billion naira, is an herculean task, even to the extent of staking it's reputation..

Stephleena, when a bank has a network as broad as GTB and is connected into every facets of the economy bringing it down does a huge damage to the strings and threads that hold economy together. If a bank is distressed and the economy is not feeling its impact then no one would blink if it fails. Thats what happened to Diamond. Its imminent failure did not disturb the market, so naturally its dissapearance was not missed, other institutions quickly filled the gap.

It would be different with GTB.

MetaPhysical:


The choice to convert to equity will be a board decision since it will translate to votes. Therefore the chances of the board approving such an application does not even appear probable.

If the Board refuses to convert the debt to equity then they should pay him immediately, so he can use the same money to buy their Shares in the Stock Market as to emerge as one out of three highest Shareholders which will in turn translate to Directorship

Skye Bank fell and you didn't notice.

Keep deluding yourself. ..

Una Never see ...this natural intro..

MetaPhysical:
Guaranty Trust Bank is too big to fail, no matter the amount judgement given against it.

Court ordered 8b naira judgement, the bank made over 180b naira profit last year.
So this judgement is like a drop of water in a pond. Yet a section of the country has been jubilating that their drop is what filled the pond.

Moreover, if GTB failed businesses in SW would be most affected and the govts in SW would loose business tax revenue. Laid off staff will swell the unemployment index and the loss in productivity will lower gdp in the region. So as a last resort, and to prevent these economic and social negatives SW govt will act responsibly and intervene to block the loss.

So to the section of the country jubilating, GTB is too big to fail!

#gtbtoobigtofail

ozoigbondu:


They have already started the process of sealing and selling
https://www.dailytrust.com.ng/we-have-sealed-7-branches-of-gtb-bank-to-recover-debt-innoson.html

7 branches where?

MetaPhysical:


Stephleena, when a bank has a network as broad as GTB and is connected into every facets of the economy bringing it down does a huge damage to the strings and threads that hold economy together. If a bank is distressed and the economy is not feeling its impact then no one would blink if it fails. Thats what happened to Diamond. Its imminent failure did not disturb the market, so naturally its dissapearance was not missed, other institutions quickly filled the gap.

It would be different with GTB.

It will be different definitely.. diamond bank merged with access.. Gtbank sealed off by Innoson

MetaPhysical:


7 branches where?

Click on link you refuse to

The branches are: one in Nnewi, two in Onitsha, two in Awka and two in Enugu and would move to seal the GTB Head office next week.

Due to politics affiliations, I see this case been settled politically... Maybe political patronage, export abilities and import waivers for innosson and acceptance of periodic cash payments...
For y'all saying they posted profits of $$$billions.. Go and get some financial knowledge. Banks don't calculate profits only in liquid assets... Infact most of the profits is in working capitals, rigid assets, performing loans and bonds.

Pride goes before a fall...……………...See Diamond Bank

MadamExcellency:


If the Board refuses to convert the debt to equity then they should pay him immediately, so he can use the same money to buy their Shares in the Stock Market as to emerge as one out of three highest Shareholders which will in turn translate to Directorship

Madam, there is process in litigation, and its usually a long drawn out timeline. Innoson has never come out to declare he is no longer banking with GTB, apparently he must have a firm trust in them, as most of their clients do. That trust includes the bank capacity to do what is right and protect customer's interest. If GTB believes Innoson's interest is protected by doing what you suggest, it would....to the satisfaction of Innoson. If it believes going with your suggestion will destroy its tradition, it would take the correct step forward and self-preserve.

ozoigbondu:


Click on link you refuse to

I clicked on the link my brother and saw the branches but I wanted you to take your own fingers post them because what you just said is in support of my original entry, to some degree.

There are two parts to the story line from daily trust.

1. Individuals do not posess the power in civil society to convert property. What i mean by this is, Innoson will run against the law if he starts sealing branches to convert to his judgement.

When you win a judgement in court if the court believes a forfeiture of property should be included with monetrary reward it would spell that out CLEARLY. If it only awarded monetary judgement then Innoson must go to court and complain that his earlier award has not been settled and he wishes to lay claim to GTB property to realize his damages. The court will invite GTB for response. Its only if GTB failed to respond or if it did but is unable to settle the debt to Innoson will the judge rule for a takeover in Innoson's favour.

The second part is local economy.
2. Take stock of the volume of trade in all these localities where you say Innoson sealed banks and calculate what percentage of that trade goes through GTB on a day by day basis. Whatever you come up with in calculation thats the loss of the local economy in these places.

Each branch has a revenue goal. Whatever the goal is for these branches they missed it for the period. As a consequence of not meeting revenue goal their tax to government of Anambra, which is a component of IGR is also affected.
So you begin to see how shutting down operation in these branches affect the economic buoyancy of the state.

This is what I meant when I said in the West, the government will act RESPONSIBLY and prevent that if it were to happen.

GTB paid 2.4 billion in dividend to its shareholders. Innoson's 8.8 billion can pay their shareholders dividend for 3.6 years.

Use your head.

fykes:
Due to politics affiliations, I see this case been settled politically... Maybe political patronage, export abilities and import waivers for innosson and acceptance of periodic cash payments...
For y'all saying they posted profits of $$$billions.. Go and get some financial knowledge. Banks don't calculate profits only in liquid assets... Infact most of the profits is in working capitals, rigid assets, performing loans and bonds.

I disagree. Did i hear you say import waiver? This is not a political issue, its not even a security issue, why should govt accept a political settlement for a personal issue....particularly for someone accused by its security agent, Customs, of perjuring himself.

Are you denying that part of the declared profit could not be used to settle the 8b naira judgement? I dont get the point you are trying to make here.

ChristianNorth:
GTB paid 2.4 billion in dividend to its shareholders. Innoson's 8.8 billion can pay their shareholders dividend for 3.6 years.

Use your head.

Hence debt trading, spread over many months, maybe the way forward.