₦airaland Forum

Jesusloveyou:
so because they arrested his kinsman for failing to honour his obligation.

This is the same reason they hated buhari just because he defeated their ineffectual buffoon.

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/

Always endeavor to follow up a story.

Wike, has a valid point. Without the oil from the Niger Delta, there wouldn't be any excess crude account to draw from.
APC... wants to take the PDP,, governors for fools.

Interesting.

In a leaked audio clip, Professor Abubakar said he would rather return to Bayero University, Kano (BUK) where he belonged after the expiration of their tenure on May 29, 2019.
Prof. has seen enough corruption to last him two life times.
Him no wan do again.

'Pissful' Protest

what was his offense? Hope is not another media trial brouhaha

36STATES:
So he's no more a tenant in Abuja? So the Abuja mansion is his property?

This evil corrupt coup plotter has zero credibility. You don't know how to make money...that's why you hate those that know how to make it?

Thought I was the only one that saw that.

sarrki:
That won't be hard
I can teach you better ways and style of sleeping without a dime
Try it you won't regret it

Complements Sir. Your days of hibernating are over.

hisgrace090:
Umahi! The willing gov.

Igbo's can now boast of you and Willie obiano of anambra state.


Abia workers may not receive salary this month.

You no even talk of November salary for ministry workers, and I think May salary for teachers.

buchilino:
APART FROM ANAMBRA N MAYBE 2 OTHER STATES, WHOSE PUBLIC WORKERS R COVERED, D REST WILL I ADVICE U START LOOKING FOR OTHER SOURCE OF INCOME COS DIS MONEY DON ENTER VOICE MAIL B4 IT GOT TO STATES.

Exactly. We are just too weak in this bleeped up country and na like mumu we go just day look while they loot our future away.

Still my state government will not clear arrears of workers being owed.

OP,
you seriously want me to read this novel when my state government has refused to pay my salary?

Kizyte:
Abdulsalam Abubakar is the most intelligent criminal in the history of Nigeria. He ruled as Head of State for just 9 months, looted enough money (Trillions of Naira). And in a bid to avoid being probed, he acted a good man by being the first Military ruler to peacefully step down for a civilian government.

Obasanjo was the first military head of state to handover peacefully to a civilian government, that is Shehu Shagari. But unfortunately IBB.. and Co truncated that experiment with a coup De etat and handed power back to the Military ruler Buhari, who gave Nigeria it's first taste of recession and Nigerians foolishly asked him back for a second taste of suffering and recession.
And I am guessing that some of our most intelligent brothers are hell bent on returning him to Aso Rock so that the suffering can last a little longer.

smulti:
A woman to be leading men battalions

tell me if that is not haram .

Tomorrow now, Amasa go carry Hijab come for Navy. Congratulations jarey

free2ryhme:
Presently, the Kano campus of the Law School located in a strict Muslim state, does NOT allow the use of Hijab! The Abuja campus allows for a black, light Hijab but only a head scarf at best for Dinners.

You day mind the hypocrites trying to cause crisis in the body of benchers

onadana:
What was she thinking?Does Islam allow disobedience?Look at the personalities that pleaded with her.If she could disobey them she will also disobey her parents. Afonja are known to be respectful. Who she be?

Even Alfa Belgore. She smoke winch.

Thank God the secretary of Benchers whatever is a Muslim woman, Mrs Turaki. And she is the vested with the power to enforce code of conducts.

chriskosherbal:
To me this lady is a definition of a beautiful woman from head to toe.

Hmmmm at the. bold part.

Despicable APC

I just want to see throw back picture of PMB... even if na for kindergarten.

Please we should consider the Human rights of those masquerades up there.

mrvitalis:
First of all I'm an Igbo boy
My father was among the founding members of pdp before his death and my mom still a member in my state land beyond

And if I'm to seek an elective position it would be in PDP but trust me Nigeria comes first

Secondly I don't want Buhari back as president honestly , Ribadu and bath nnaji has been my day one choice or if tony enumelu can run I would be the happiest man

But keep Buhari ,Jonathan and Atiku

I would keep choosing Buhari he is far better than the rest bro

That's my stand

I don't doubt the fact that you are Igbo or have PDP affiliations, but they guy is asking on what premise or goal or whatever should we ask Buhari back?
Some people keyed into this change of thing because they didn't want to give Jonathan a second chance at Aso Rock. So why should we consider Buhari for a second term?
Atiku and Buhari are from the North. But given Buahri's dismal performance I will say let's. keep doing trial by error until we get it right.
When politicians realise that if they don't perform in their first tenure we will kick them out, then I am sure Real Changes will come.

If they change the law for this Muslim girl, then they must change it for so many other religions. Not like the nonsense that goes on in Nairaland religion section where I have to swear to some useless oath before commenting on that section. But they the Muslims are free to comment on Christian topics.

Over 500 people viewing this topic. Na so una hate SARS.... reach?

TheCabal:
Bros abeg leave this thread.

I talk bad? Nna anyi Cabal?

Aystarz:
Did you check the other questions?? Gbagauns everywhere, yet that one calls himself a teacher. This country is in deeper ish than anyone could imagine.

How much are they paying him? When they will not want to pay teachers well and will not go out there to recruit qualified teachers what are you expecting the children to learn?
A time will come, Nigeria will regret why they neglected the Educational sector.

Buhari brought recession twice to Nigeria, '84 and '16 how can the answer be Buhari?

mrvitalis:
First of all out military needs more than $5bn every year to fuction well (USA $700bn ,Russia close to $100bn ,China around $120bn )

Is the money needed yes

Would it be used well I'm not sure

But all PDP Governors supported this move and gave there approval to this so why is Buhari taking the blame

Fayose, just said he didn't support and didn't approve. Am sure there are others.

Someone once said, When it comes to politics, no tribe or religion. Only Interest.
Many will call Ogunlewe, Omo ale

lost24:
am not defending dis government

But we goodluck was in power borrow $20 billion within 6month to flight boko haram and it was 6month b4 election.
Now boko haram as step up it game a little bit in d north east n our military need to step up too.

But if is moni 4 election dat dey withdrawn
It will not win dem d election ooo because PDP use d whole country moni n dey no till win d election


So Nigerian will decide

It would have been good if you back this claim of $20 Billion with facts or verifiable sources.

Omexonomy:
With all these huge amount be bandied arround yet they wickedly pay their bmc crew 30,000.
Sarrk has been mising in action hope no problem

Just like Beaf who defended GEJ... vigorously, even when he did wrong. And all of a sudden we stopped seeing him on Nairaland. That's how sarrki will disappear when he can no longer continue defending the indefensible.

You should know that Nigeria is the true definition of HYPOCRISY, when all the things they condemned during GEJ... reign is being done now and there is no dissenting voice among our 'intelligent, activist, and sophisticated' elites.
Look at the Fuel situation? What of the Power situation? What of the different foreign trips? The budgets? and now this $1 Billion to fight a DEFEATED BOKO HARAM?

Fear Fear Governors. That is why I still have some respect for Northerners and their governors/ leaders. They say it as it is.