Springboot:


Alot of uneducated people on this forum

Your initial comment was about 32Bn not enough to buy the highest shares in the bank - talk less of taking over.

My comment point out the fact that the money won't remain at 32Bn, but will keep increasing due to interest.

If you're in anyway educated, or have a little bit of wisdom, this shouldn't be rocket science for you to understand.

so in your mind you think one day innoson will take over gtb? Wake up from that dream, even if gtb goes down, amcon will take over and not innoson. Again, wake up from that dream. If he wants to own a bank, he should learn from Tony elumelu

Yes, Innoson can take over GTB through court order, and AMCON won't even have a business with it.

If AMCON will step in and take over, they will still pay Innoson whatever debt GTB is owing him at that point in time. So Innoson will still get the money, with all the accrued interest.

FreeStuffsNG:
Dear OP, the title of this post should be "How To Acquire A Bank By Fraud" by Innocent Chukwuka and Innosson Motors.

I know the true background of the story and how but for the smart way Agbaje moved quickly to save GTB, the bank would have been killed like Diamond Bank.

As we type here, Access Bank, Zenith Bank and AMCON are dragging ABC Orjiako,an Igbo man like Innocent Chukwuka, that their actions against ABC Orjiako even forced him to step down from being the Chairman of the Board of a company he co-founded but no one is playing the ethnic trump card. So why should he bring ethnicity or hate into this glaring case of fraud if he is innocent ? because his tribe enjoy immunity from prosecution for crime committed or what? Haba!
The case is in court. Real crime of forgery was committed and the perpetrators of the forgery including the company that cleared the goods, except this your 'mentor', has been jailed.

Let's watch how it pans out in the courts.
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I just lost respect for Innosson and his business value, why bring ethnicity into a conflict between a bank and an auto manufacturer. Stick to the technical and legal issues why GTB might be wrong and not the the fact that they are Yoruba's and intend to destroy an Igbo business.

Springboot:


Alot of uneducated people on this forum, so in your mind you think one day innoson will take over gtb? Wake up from that dream, even if gtb goes down, amcon will take over and not innoson. Again, wake up from that dream. If he wants to own a bank, he should learn from Tony elumelu

Acmon will only take over gtb if it's debt's in form of loans are no longer feasible.

innoson can rightly take over gtb once it's debt to him exceeds there share index. Innoson can now litigate for gtb to be declared insolvent.

I haven't been following this issue,but if truly innoson has defeated gtb in all cases instituted between them (forgery and illegal deductions) , then gtb better settle out of court

perez100:
The Supreme Court has ruled and that is final. There is nothing any person can do about it. The GT Bank must pay the money or they kiss the bank goodbye.v Period!

The Supreme Court has not ruled on the substantive case.

You people should stop misinforming the public.

The Supreme Court only ruled on an interlocutory appeal.

pipnator00:


Bro' stop this. I think everyone understands what you meant but it isn't applicable here. When you borrow from the bank, repayment is continuously re-adjusted based on inflation, currency value and all that - all through the tenure of the loan.

With the present value of the Naira, if the bank should pay back today, they are paying back many times more than what they would have paid if they payed earlier.


***Everyone is here chatting what they feel meanwhile Baba said he wouldn't be hounding the bank anymore for his money, until the debt is beyond there capacity. Then he will remind them who the last Don is!

In Naira terms yes but can that money buy you what it could before?..no!!!! therefore the money even though it is higher in actual figures is worth less, therefore your wealth has been reduced.

Wealth is not about the actual figures on a currency but the purchasing power of that money. there are billionaires in Zambia and venezuela, that cant buy a loaf of bread with their billion, so stop focussing on actual figures but purchasing power.

For example in 2015 a new toyota corolla was less than 5m. if you put that 5m in the bank at 22% today you will have 16.5m. you think you have done well abi? you are richer abi? except when you go and price a corrolla, you find it is now 18-20m. You can argue all you want but your money in 2021 depite increasing 3 fold cannot buy you what it could buy you in 2015. I dont know where you went to school or the kind of economics they taught you there but in the real world this mean you are less wealthy because your money cannot even buy what it could 6 years ago despite all your compounded interest.


So by deduction, the fact that your money is worth less in 6 years also means the real value of what GTb will be paying the longer time goes on will be less in real terms than the principal amount. Sense is different from sense.

eduj:



Acmon will only take over gtb if it's debt's in form of loans are no longer feasible.

innoson can rightly take over gtb once it's debt to him exceeds there share index. Innoson can now litigate for gtb to be declared insolvent.

I haven't been following this issue,but if truly innoson has defeated gtb in all cases instituted between them (forgery and illegal deductions) , then gtb better settle out of court

Better support innoson by buying his vehicles, if your dream is that he will take over a bank one day, they you will grow old waiting... Keep following the issue.

olatuns2017:


Omo ibo...

419 brain

Do Igbos do fraud more than you oil soupers?
Remember, you guys are d originators of oluwole where fraud and forgery started in Nigeria.

DubaiLandLord1:
The forgery case is still in court.

But the one of illegal deduction by GTB have been settle

So now, una believe in the supreme court

Go and write today's date down, Innoson can't take over GTB.

It is by law, not by power. Get ready for the shock.

Agadinaagwuofe:


Why are you running circle on the same thing I am saying? are policemen not Nigerians? are Army men not Nigerians? their duty is to Nigeria and not to any individual. stop peddling that falsehood, why didn't Army and police help Jonathan? I know you will say it is because He is weak. It is a lie! Nigerian politicians are just the microcosm of Nigerians don't look no further, if 60% of people in this country decides to do the right thing this country will be pushed to the right path. Do you ever think Nigerians politicians are the only people that knows how to rig or they are the only people that "wise pass" the answer is capital NO the only difference between Nigerian politicians and all other countries politicians are simply that other countries citizens won't tolerate their politicians to do this and go scot free. Nigeria politicians know this very well but they capitalize on the ineptitude of the populace because their mindsets can easily waive. I used to have the same mindset but having travel wide I now know better that we are not worse of as individuals the only problem we have is our mindset inability to do that thing which is right which will culminate to vote the right way. I will used Anambra election as a typical example, most of the politicians that took part wanted to rig it but having seen that the masses have determined to decide they have no other plan than jettison their rigging plan, that is just a typical example of power reside with the people and not otherwise

How can I help u o! U mentioning Anambra election? Really? Presidency is different ball game. And their is no unity among the ethnic nationalities on a wide scale to prevent lopsidedness in any presidential election anytime now or later. This realization helps to think of wot next must we do! To be ignorant of this fact, like u doing now, is to be running round in circles. This government did not win any election! So how do we proceed from here? Thats shud be the question. Stop deceiving urself. Power is not in the hands of the masses

joyandfaith:


But he won Gtb at supreme court even with gtb allegation forgery of bank documents against him.

You guys are not fully informed about the court cases.

And Innoson's media unit is playing on the ignorance of a lot of Nigerians.

The actual substantive cases is yet to be decided by the Supreme Court. What you are talking about is only an interlocutory appeal.

If the main case has been dispensed off by the Supreme Court, then why has GTB not complied??

FreeStuffsNG:

You are not comprehending my question. The case of forgery against him is yet to be concluded and to the best of my knowledge EFCC has not withdrawn the case. Now if you are suggesting that the case has ended, please kindly point to me where the evidence is sir. This is exactly how the case of Farouk Lawan was slow but eventually sentenced to prison this year after almost 10 years. The case of Innocent Chukwuka will be decided by the courts. The wheel of justice may grind slowly but it will still take its course. On this case of his alleged forgery, his conspirators have been jailed so why should he be exempted? That's the justice part that should interest you too but it's not your concern because he is your brother. Incidentally, some of those jailed are likely your brothers too.

This thing is very simple. I don’t know why u peeps like the drama? Innoson has a court injunction forbidding GT from prosecuting fraud until his money illegally deducted has been paid in full. So, pay d man, so u cud proceed with ur so-called fraud case! Wots so hard about that?

perambulator:


In Naira terms yes but can that money buy you what it could before?..no!!!! therefore the money even though it is higher in actual figures is worth less, therefore your wealth has been reduced.

Wealth is not about the actual figures on a currency but the purchasing power of that money. there are billionaires in Zambia and venezuela, that cant buy a loaf of bread with their billion, so stop focussing on actual figures but purchasing power.

For example in 2015 a new toyota corolla was less than 5m. if you put that 5m in the bank at 22% today you will have 16.5m. you think you have done well abi? you are richer abi? except when you go and price a corrolla, you find it is now 18-20m. You can argue all you want but your money in 2021 depite increasing 3 fold cannot buy you what it could buy you in 2015. I dont know where you went to school or the kind of economics they taught you there but in the real world this mean you are less wealthy because your money cannot even buy what it could 6 years ago despite all your compounded interest.


So by deduction, the fact that your money is worth less in 6 years also means the real value of what GTb will be paying the longer time goes on will be less in real terms than the principal amount. Sense is different from sense.

Like I wrote in my previous reply to your comment, "Stop doing this"
Loan repayments are readjusted through out the tenure of the loan, to continuously to reflect current inflation rate /currency value. If you like again, ignore my full comment and only bold and reply the part that suits you. Or even go take loan from bank and think you can play them based on inflation until they readjusts the loan to reflect the current inflation rate, na that time body go tell you.

Omonigho1976:
Seems you didn't follow the case at all but stupidly jumped in to comment as a tribal warlord, Innosson accused GTB of outright stealing and fraud in the operation of his account, they both went to court and Innosson proved his case with facts which GTB could not refute and a judgement was given in his favour, in normal societies where normal people reside and the rule of law is King, GTB would have paid up the judgement amount or it's assets would have been liquidated to offset the sum, but unfortunately Nigeria is not a normal nation and Nigerians are not normal people which is why we all live like animals guided by no rules

The case is still in Appeal.

Stop misinforming the public. The main case will be appealed up to the Supreme Court.

Innoson got judgement at the lower court.

GTB appealed the Judgement and the court asked GTB to pay money into a 'neutral account' pending the determination of GTB's appeal.

GTB was dissatisfied with this directive of the court, and appealed this particular directive to the supreme Court. The supreme Court then ruled that the directive of the lower court for money to be paid into a neutral account was in order. This is the ruling that Innosson has been brandishing before ignorant people that he has won the case.

Whereas, the main case is even still there and ongoing.

Milito:


You guys are not fully informed about the court cases.

And Innoson's media unit is playing on the ignorance of a lot of Nigerians.

The actual substantive cases is yet to be decided by the Supreme Court. What you are talking about is only an interlocutory appeal.

If the main case has been dispensed off by the Supreme Court, then why has GTB not complied

There are two cases.
Efcc v innoson. Alleged forgery . Case on going.
Innoson v gtb- wrong deductions from innoson by gtb. Innoson won. Gtb should pay judgement debt and innoson faces efcc for criminal case.

joyandfaith:


There are two cases.
Efcc v innoson. Alleged forgery . Case on going.
Innoson v gtb- wrong deductions from innoson by gtb. Innoson won. Gtb should pay judgement debt and innoson faces efcc for criminal case.

Innoson has not won the substantive (Innoson v gtb- wrong deductions) case. Make your findings and don't rely on beer parlour gists.

Milito:


The case is still in Appeal.

Stop misinforming the public. The main case will be appealed up to the Supreme Court.

Innoson got judgement at the lower court.

GTB appealed the Judgement and the court asked GTB to pay money into a 'neutral account' pending the determination of GTB's appeal.

GTB was dissatisfied with this directive of the court, and appealed this particular directive to the supreme Court. The supreme Court then ruled that the directive of the lower court for money to be paid into a neutral account was in order. This is the ruling that Innosson has been brandishing before ignorant people that he has won the case.

Whereas, the main case is even still there and ongoing.

All I see is cuniman die cuniman beriam.

Soon, di interest and penarity go grow pass Nejeria sef.

Come see better business. So some of us dey waste our time trying to get rich. Beta way dey.

Sotland:
That's completely the GTB fault. If their claim is genuine, the court would have upturn their ruling. Meanwhile can't any other court upturn the ruling of the Supreme Court?. GTB should just call him to the table and negotiate.

Innoson has not won the main case at the supreme Court. You guys are falling for the propaganda of Innoson's media team.

Milito:


The case is still in Appeal.

Stop misinforming the public. The main case will be appealed up to the Supreme Court.

Innoson got judgement at the lower court.

GTB appealed the Judgement and the court asked GTB to pay money into a 'neutral account' pending the determination of GTB's appeal.

GTB was dissatisfied with this directive of the court, and appealed this particular directive to the supreme Court. The supreme Court then ruled that the directive of the lower court for money to be paid into a neutral account was in order. This is the ruling that Innosson has been brandishing before ignorant people that he has won the case.

Whereas, the main case is even still there and ongoing.

''I would still run it well. They shouldn’t fear. I haven’t done any business that fails.

“I will run it better than them. If they cannot
pay me, I have no choice but to take over the
management.”

see the brain of a businessman... He has already envisioined his self taking over!.

pipnator00:


Like I wrote in my previous reply to your comment, "Stop doing this"
Loan repayments are readjusted through out the tenure of the loan, to continuously to reflect current inflation rate /currency value. If you like again, ignore my full comment and only bold and reply the part that suits you. Or even go take loan from bank and think you can play them based on inflation until they readjusts the loan to reflect the current inflation rate, na that time body go tell you.

my friend you clearly do not know what you are talking about or understand simple concepts like time value of money, DCF, net present value etc. if you did you wont be embarrasing yourself like this.

Time value of money, Dcf, Npv are the 1st things that are taught in any finance course. I suggest you take a quick online course. If devaluation and inflation (a realistic DCF rate in Nigeria has to take account of devaluation and inflation because these are 2 persistent peculiarities of the Nigerian economic terrain) ) are more than your potential return (in this case interest) you have a negative net present value of your future cash flows.

truth is this is not even about understanding finance but having common sense. if the interest or return on your money is less than the total loss in the value of the naira over that period, then that investment or return is losing value over time. thats the concept behind calculating Net present value. It means what is the value of tomorrows income today, if the NPV is negative you are losing money and vice versa. There is more to calculating real growth in wealth than just having increased numerical income in future.

OfoIgbo:


I think you are totally missing the point. And I fear this your perspective was exactly what Agbaje had, that gave him a false sense of security to the extent that he has now made GTB a debtor to Innoson.

In business, the customer is always right. It is a mantra. Of course we know the customer is not always right, but an effective CEO of GTB would have nipped this problem in the bud right from the onset, by making the customer feel appreciated and pampered. Other customers are looking on.

The money that they now have to pay Innoson in compensation destroys whatever positive innovations, Agbaje may have brought to GTB

Both are liable to each other. The case may never fly

Very soon, GT Bank or GTCo. will start doing yahoo yahoo or maybe they have started because the way they are pilfering my acct ehh.. I don't understand again..

nzeobi:


Lol the forgery case was supposed to be between the customs and innoson but the customs has cleared him.

Gtbank is only decieving themselves and wasting time, when they get tired they will start paying

I prove it to you that GTB is not going to pay a dime, and Innoson might beg to settle out of court. Please star this for future reference

Masterkernel1:



Hahahaha.. . What's the connection between illegal deduction from his account and falsification? Supreme Court has awarded him 32 billion against GTB.

Supreme Court has not awarded him 32billion. GTB is to pay the money to court registrar pending the determination of the substantive appeal.

Why are people so ignorant in Nigeria??

OfoIgbo:


GTB should really approach Innocent Chukwuma for a proper out of court settlement. Any direct or indirect shares that Segun Agbaje has in GTB should be forfeited. All his lackeys in the current board should be shown the door, and a new management team put in place to carry out the negotiations with Innoson.

Segun Agbaje ran this bank aground, by picking an unnecessary fight with Innoson, and on top of that, using their links with the seat of power, to hound Innoson.

But I think it can be remedied, if the current GTB board make the right wise conciliatory moves

The case is still in Court. Why are you people so dull in hearing?

FreeStuffsNG:
Dear OP, the title of this post should be "How To Acquire A Bank By Fraud" by Innocent Chukwuka and Innosson Motors.

I know the true background of the story and how but for the smart way Agbaje moved quickly to save GTB, the bank would have been killed like Diamond Bank.

As we type here, Access Bank, Zenith Bank and AMCON are dragging ABC Orjiako,an Igbo man like Innocent Chukwuka, that their actions against ABC Orjiako even forced him to step down from being the Chairman of the Board of a company he co-founded but no one is playing the ethnic trump card. So why should he bring ethnicity or hate into this glaring case of fraud if he is innocent ? because his tribe enjoy immunity from prosecution for crime committed or what? Haba!
The case is in court. Real crime of forgery was committed and the perpetrators of the forgery including the company that cleared the goods, except this your 'mentor', has been jailed.

Let's watch how it pans out in the courts.
Here's free book on business ideas & money sources directory for you,it's 100% free! https://www.nairaland.com/6666800/looking-business-ideas-money-fund.

But this case has been concluded in court

I see trabalistic upset in you speach





.

Springboot:


Better support innoson by buying his vehicles, if your dream is that he will take over a bank one day, they you will grow old waiting... Keep following the issue.

No need to become emotionally petty. Am a gtb account holder and I love there services.

I never claimed -definitly-;that innoson will acquire gtb.On the contrary , I challenged your fallacious statement that innoson can't acquire gtb based on debt owed

kelly72:


He has defeated them also on the forgery case. They thought thought they could use EFCC to lump the stealing from him and the forgery case together and obfuscate the whole thing. But the supreme court has separated the two and EFCC ran away because the forgery case is actually a ploy to lump all things together and deny stealing from him.

This big gamble has failed and GTBank is now on the precipice.

You are not informed at all. What you wrote up there is a classic example of beer parlour talk.

kelly72:


So where is the judgment convicting Innoson for forgery? Why is your forgery case still being speculated whereas the supreme court has long found GTB guilty of stealing. Anyways, every agency and authority in Nigeria has abduty to enforce supreme court judgment. E go do una vam for eye.

Where is the court judgment that found GTB guilty of stealing?? You people will just be going about with distorted information

DubaiLandLord1:
The forgery case is still in court.

But the one of illegal deduction by GTB have been settle

So now, una believe in the supreme court

Go and write today's date down, Innoson can't take over GTB.

The illegal deduction case is still ongoing.

Milito:


Innoson has not won the substantive (Innoson v gtb- wrong deductions) case. Make your findings and don't rely on beer parlour gists.

Has gtb paid the money into neutral account?
Mr no palor gist, do you think it is appropriate for gtb to illegally deduct money from customer account. When the case started, Gtb out of fear of paying debt reported innoson to efcc for forgery of bank documents. Gtb did that do stop innoson from demanding refund and accrued interest.
The case has political undertone. I wouldn't say more that.

cmikel:




But this case has been concluded in court

I see trabalistic upset in you speach





.

Unlike most of you, right from Primary 1, I have been in a class where most of the major and minority tribes learn so I don't do petty tribalism. His accomplices in the forgery case were jailed and the case of forgery against him is yet to be decided by the courts. That's why GTB is not responding directly to his forgery case. As indebted as ABC Orjiako is, nobody has ever accused him of forgery yet he is an Igbo man. If you play the victim card after committing a crime, you are doing yourself. The case of forgery against him is yet to be decided or withdrawn by EFCC but if you have the evidence that the case was thrown out, please share. You can't obtain an injunction in Awka to stop a High court case by EFCC in a High court in Lagos.

tarboshi:
Seriously, Nigeria don finish.

How can Supreme Court give judgement and some people are dragging their feet to comply with the judgment?

Because the Supre court has actually not given Judgement on the main case.

All what people are talking about is an interlocutory ruling of the Supreme Court.

But as usual with our myopic people, it's only headlines, they read and they go wild with distorted information.

I have broken the issue down in the below quote.

Innoson is the one using the media to confuse a lot of people. His media team keeps churning out half truths and the result is what you have seen on this thread, where people are shouting up and down that he has won at the supreme Court whereas the main case is still ongoing. This main case is even different from the other forgery case.

Ita saddening that we are not deep thinkers in this country. You are the only person after 10 pages to ask the simple question that if indeed he has won in the highest court of the land, what next? What is GTB waiting for?

In court cases, the pronouncement of the supreme Court ends the case and implementation is followed by all and sundry.

Milito:


The case is still in Appeal.

Stop misinforming the public. The main case will be appealed up to the Supreme Court.

Innoson got judgement at the lower court.

GTB appealed the Judgement and the court asked GTB to pay money into a 'neutral account' pending the determination of GTB's appeal.

GTB was dissatisfied with this directive of the court, and appealed this particular directive to the supreme Court. The supreme Court then ruled that the directive of the lower court for money to be paid into a neutral account was in order. This is the ruling that Innosson has been brandishing before ignorant people that he has won the case.

Whereas, the main case is even still there and ongoing.