₦airaland Forum

Pass me some pop corn.

Our attention has been drawn to the fraud charges filed against Chief Dr Innocent Chukwuma, OFR, popularly known as Innoson, by the Economic and Financial Crimes Commission, EFCC. We deem it fit to alert the general public that the alleged fraud charges filed by the EFCC is a ploy orchestrated by the Commission to justify the Gestapo style of arrest used in bundling Dr Chukwuma out of his residence and furthermore the charge is an action taken in bad faith to change the narrative to portray Innoson in bad light and divert the attention of the public who have continued to condemn the illegal action taken by the Commission.

We have some reservations with the publications of the details of the suit in question on some online blogs because the charge which EFCC purports to file has a temporary suit number, vis – temp/3315c/2017. This number is written with red pen at the top most right side of the charge published on EFCC’s page.

By this temporary number it means that the charge is not yet before any court in Lagos state. Also, it means that the charge cannot be acted upon by any court in Lagos state and it cannot be served on any party as well. As it is, the charge has not been filed. So why the media noise by the Commission of filling fraud charges against Innoson? We believe that it is a Volte face.

Furthermore we are alarmed at how low EFCC could descend to be used by GTB to destroy the Nigeria’s foremost entrepreneur. We have it now on good authority that there is a grand conspiracy by an international competitor of Innoson Vehicles who have conspired with a financial institution to pull down Innoson Vehicles at all cost because of the latest increase of patronage of Innoson Vehicles by the Federal Government.

But we are amazed that EFCC, a Federal Government Agency, which is supposed at all times to defend indigenous Nigerian companies who are working hard to make Nigeria great, will allow itself to be used as a tool to kill and destroy these companies.

Particulars of Offence

Nigerians need to ask EFCC if GTB as a bank has any license to import motorcycle spare parts or CKD. A cursory look at the charges filed by EFCC at court is both laughable and constitute national embarrassment. The motorcycles being deemed the property of GTB were ordered by Innoson from its manufacturers and suppliers with a loan from GTB. Under letter of credit transaction, in international trade, bills of landings are consigned to Banks not because the Banks – consignees – are the owners of the goods but rather to ensure that the seller is paid and the buyer receives the goods.

Mere consignment or endorsement of a bill of lading does not confer title in the goods covered by the bill of lading to either the consignee or the endorsee. Where consignment or endorsement of a bill of lading is intended as a security for loan, consignment or endorsement in such circumstance does not transfer title in the goods to the consignee or the endorsee.

All Innoson’s letter of credit transactions, through GTB, where confirmed LCs. In letter of credit transactions (LC), particularly but not exclusively confirmed LC, the term is cash against documents. Shipping documents are not released by the advising/correspondent Bank to the Issuing Bank until the Issuing Bank pays for the goods. At all material times, Innoson paid 25% of every LC value before it was opened.

The media hype of EFCC portrayed Innoson and its promoter as having stolen goods belonging to GTB. We note that attempt of EFCC to get the courts to retry a matter Innoson had already secured judgment on.

Till date, EFCC never told Innoson why he was arrested except to say on pages of newspapers that he was arrested because of his fraud at SEC and forgery of documents to obtain tax waivers.

While we await to be served the court papers, we want to advice the EFCC that if there is any complaint by GTB to EFCC, Innoson should be invited by the commission to clear its name, EFCC will then conducts its investigation before taking matter to court.

Cornel Osigwe

Head of Corporate Communications

Innoson Group




https://www.premiumtimesng.com/promoted/253655-grand-conspiracy-innoson-motors.html

doctokwus:
Just hear yourself.An adult!
So I must continue supporting anything he does,assuming I was even still behind him?

"You can read and write, you had access to all of General Buhari's 1983-85 records, online & offline. In 30yrs,he never furthered his education, built a business, wrote a book or formed an NGO...but somehow you decided to campaign for and vote for him in 2015? My friend, collect your L in peace, you played yourself, you be maga."

SalamRushdie:
Buharis poor anti malarial policy passes as the daftest thing his very daft govt has done..Just onne unbiased look at the policy you will realise the man doesnt mean well for Nigerians

Op was one of the people that foisted Buhari on us. He has no moral ground to complain.

sunbreaker:
.I pitty for most Nigerian with all these rubbish,government does not know if u are exist.Now u form association ;u registered under government and anytime u fail to remitt tax, government will chase after u for the business that can not feed ur family.Then u will blame government,u are the Architect of ur misfortune.

Ignorance is bliss.

LIFEisSIMPLE:
During his first presidential run in 2003, Muhammadu Buhari chose Dr. Chuba Okadigbo as his running mate, and failed massively especially in the south east. Then in 2007, his running mate was Chief Edwin Ume-Ezeoke, and still lost massively in the south east to Late Umaru Musa Yaradua, this made his hate for the 5% grow to unbelievable heights.

By 2011, having given up on the south east, he decided to switch strategy by romancing the SW and exploiting the worldwide grace God has given to the pastors from that region, thus fielding Pastor Tunde Bakare, and with that he had his best run ever as at then amasing more than 12 million votes close effort but not enough as Goodluck Jonathan still managed to still pull through.

In 2015, his breakthrough year, he decided to pick a candidate from the most populous Church in the world, [/b]He maneuvered to picked a candidate from the Redeemed[b] Christian Church of God in the name of Pastor (Prof.) Yemi Osibande. On this occasion, GEJ could not contest with the army of God's General Pas. E. A. Adeboye. Thus changing the title of GMB to PMB.

The decision of the RCCG to stick its reputation on the line for Muhammad Buhari was a blunder, which has brought untold hardship to the Children of God (Prob. 29:2). Now little boys like Daddy Freeze everyday are saying rubbish about Daddy GO . I rest my case

https://www.vanguardngr.com/2016/12/the-frustrations-of-buhari-from-2003-to-2011/

RCCG the most populous church in the world?

Who wrote that crap?

.

A documentary on the Nigerian enigma, William Onyeabor, Musician, politician and industrialist.


https://www.youtube.com/watch?v=GiaRp0M2fxE

jamesibor:
William Onyeabor's Fantastic man song used in Apple iPhone 7 advert.


https://www.youtube.com/watch?v=hcMSrKi8hZA

Lalasticlala, what's your take on this?

The enigma, William Onyeabor


https://www.youtube.com/watch?v=GiaRp0M2fxE

William Onyeabor's Fantastic man song used in Apple iPhone 7 advert.


https://www.youtube.com/watch?v=hcMSrKi8hZA

Lalasticlala

chomchom1:
God bless 5%

Let's not tribalise this please.

TV documentary on the man


https://www.youtube.com/watch?v=QgekMb2aAGw

John Carruthers Stanly, the largest free black slaveholder in the South, is a paradox of history. He purchased his own family members out of slavery and eventually became one of the largest slaveholders in Craven County, North Carolina.

Stanly, born a slave in 1774, was the son of an African Ibo woman and, many believe, the white prominent merchant-shipper John Wright Stanly. As a young boy, he received an education and was taught the trade of barbering with the help of his owners, Alexander and Lydia Stewart. Alexander Stewart had served as captain of the ship that brought Stanly’s mother to North Carolina and both Alexander and Lydia were John W. Stanly’s friends and neighbors.

After learning the barbering trade, Stanly was allowed as a bondsman to establish a barbershop in New Bern. Many of the town’s farmers and planters frequented his barbershop for a shave or a trim. As a result, Stanly developed a successful business and he became known as Barber Jack. Realizing that Stanly, at the age of twenty-one, was literate and could economically provide for himself, his owners petitioned the Craven County court in 1795 for his emancipation. However, he was not satisfied with the ruling of the court and in 1798, through a special act, the state legislature confirmed the emancipation of John Carruthers Stanly, which entitled him to all rights and privileges of a free person.

Between 1800 and 1801, Stanly purchased his wife, Kitty, and two mulatto slave children. By March 1805, they were emancipated by the Craven County Superior Court. A few days later, Kitty and Stanly were legally married in New Bern and posted a legal marriage bond in Raleigh. Stanly’s wife was the slave daughter of Richard and Mary Green and the paternal granddaughter of Amelia Green. Two year later, in 1807, Stanly was successful in getting the court to emancipate his wife’s brother. After securing his own and his family’s freedom, Stanly began to focus more on business matters. He obtained two slaves, Boston and Brister, who were taught the barbering trade. They became very skillful at the trade, which prompted Stanly to turn the operation of the business over to them. He used the money earned from his barbering business to invest in additional town property, farmland, and slaves. Other factors that assisted Stanly in his rise were his close ties with his former owner Lydia Stewart, his half-brother, John Stanly, and many prominent whites, along with his thrift and business acumen.



Starting out with small holdings and eventually accumulating large holdings, Stanly became one of the wealthiest men and the largest slave owner in Craven County. He purchased property at low prices and sold it at higher prices. He also profited from his rental properties and slave operated barbershop, not to mention monies earned from the sale of his plantation commodities such as cotton and turpentine.

Stanly’s plantations and rental properties were operated by skilled slaves and free blacks. To improve his rental properties in New Bern, he used skilled slaves and hired free blacks to build cabins and other residences and to repair and renovate these properties. In fact, slave labor during the depression of the early 1820s kept Stanly economically stable.

Regarding how many slaves Stanly owned, the 1830 census suggests he owned 163 slaves. He has been described as a harsh, profit-minded task master whose treatment of his slaves was no different than the treatment slaves received from white owners. Stanly’s goal, shared by white southern planters, was on expanding his operations and increasing his profits. Prior to a series of financial difficulties in the 1830s, his economic net worth exceeded $68,000.

During the 1820s, Stanly’s wife, Kitty, died and he faced a series of economic difficulties. Kitty had been ill for several years, eventually becoming bedridden. Despite careful attention by two slave nurses, she died around 1824. His fortune began to plummet when the Bank of New Bern, due to the national bank tightening controls of some state and local banks, was forced to collect all outstanding debts. Unfortunately, Stanly had countersigned a security note for John Stanly, his white half-brother, in the amount of $14,962. Stanly assumed the debt. This action along with his own debts forced him to refinance his mortgages and sell large pieces of property, including slaves. When these options did not resolve his economic woes, he resorted to mortgaging his turpentine, cotton, and corn crops, as well as selling his barbershop, which had been operating continuously for forty years. Without the steady flow of income from his barbershop, it became increasingly difficult for him to stabilize his finances. By the early 1840s, much of Stanly’s holdings with the exception of a small rural tract of land had been liquidated. Finally in 1843, when Stanly was seventy-one, his last 160 acres of land were sold at public auction. Three years later, with only seven slaves remaining, John Stanly died.

Chronology

1774

Born in New Bern, North Carolina

1795

Initiates petition for emancipation

1798

State legislature confers Stanly’s emancipation

1800

Purchases Kitty Green and two slave children

1805

Marries Kitty Green

1807

Petitions for emancipation of brother-in-law

1824

Buries wife

1830

Owns about 1163 slaves

1843

Owns 1160 acres of land

1846

Dies in New Bern, North Carolina




Read more: Stanly, John Carruthers(1774–1846) - Barber, plantation owner, Chronology - Slaves, Slave, Stanly’s, and Kitty - JRank Articles

http://encyclopedia.jrank.org/articles/pages/4474/Stanly-John-Carruthers-1774-1846.html#ixzz52IKAVXKQ

spako4:
Please pay up your debts and avoid all these embarrassments instead of wooing tribal
sentiments

Who is owing who? Last time I checked, the court decided who was owing and it wasn't innocent.

dalaman:
How many people have watched the human side of Buhari documentary?

Comments........

Oh, was it his cow side we've been seeing before?

Fulaman198:
World rankings are hardly to determine as the UK is often overrated due to jingoists within the country. Remember, India, Russia, France, Germany, etc. all have fantastic schools. I find it hard to believe that schools in the UK would be better than those in Russia, France and Germany.

E say Russia. How many Nobel laureates are from Russia and France compared to the UK?

frankyychiji:
This OP just opened up old wounds

Now that the scales have fallen off doctokwus eyes, he's looking for a scape goat.

doctokwus:
The heading is no sarcasm,joke or trying to pull anybody's leg.
I truly blame Jonathan for the monumental error,suffering,disaster and crass incompetence that has characterized Buhari's rule since 2015.
My reason is quite simple:
Goodluck Jonathan was voted in in a historical election.He was the first head of government of any make in Nigeria to come from a minority tribe.
He was overwhelmingly supported by those who saw his coming to power as the chain breaker that would liberate every ethnic group in Nigeria to believe it had a stake in corporate Nigeria.
However,for 5yrs,Jonathan failed to deliver on good governance.
He allowed corruption to become an acceptable form of governance.
He dilly dallied on Boko Haram till they threatened the 2015 elections.
He failed majorly on the economy as signs of Nigeria sliding into debts,unpaid salaries,unemployment and various crimes began to manifest.
He was clearly inclined to favouring his Ijaw stock,to the detriment of even other Southern ethnic groups.
The choice was stark:reelect Jonathan and face the fear of Nigeria sliding further down or elect a man championed and dressed in robes to be non corrupt,with impeccable integrity and backed by big financiers,who could match PDP's vote for money strategy.
In otherwords,if Jonathan had shown just the slightest desire to fight corruption,had battled BH early on,instead of allowing those around him to mess him up,and those in the North to add further insult by sabotaging efforts towards that end,and had by fighting corruption,got sufficient funds to tackle the bankruptcy Nigeria was heading to and a consequent traumatised economy with it,many that voted Buhari won't have dare look at an old man,that was scared of debate,and whose whole image was craftly forged for the voting public.
So yes,Buhari has turned out to be a great disaster,a very divisive,grossly incompetent,parochial president and one no country should ever pray to have,but if Jonathan had put in just one more bit of honest effort,we would all have been saved the Buhari nightmare we are all living witnesses to.

Blame yourself for campaigning for a man with no history of good education.



You played yourself mate.

MackyNaija:


You don't have reskpekt!

Here you go Texas university is 67th here �

https://www.topuniversities.com/university-rankings/world-university-rankings/2018

Fulaman198:
University of Texas - Austin has always been a top 20 Engineering School (EE, CS and CE) in the United States, this is well known. This has been the case for a very long time. Where did you attend?

Oh, US not globally? My faculty is currently number 1 in the UK and 3rd in the world.

Fulaman198:
Texas A&M is a pretty stellar engineering school and one of the top schools in the United States. It is ranked up there with University of Texas -Austin.

When did university of Texas become a top uni. Mind you, I attended a global top 20 uni, so my judgement is relative.

adozie:
You must be out of your mind to think so. No it is NOT!!!!!

Your opinion.

coputa:
How,compare and contrast

Those who know, know.

lodgerill:
A Twitter user who graduated with a perfect 4.0 CGPA shared photos from his Msc graduation ceremony in Texas, USA and narrated how his dad's friend advised his dad not to send him for his masters in the US because he graduated with less than 2.1 during his B.sc in Nigeria.



http://www.lodgerill.com.ng/2017/12/man-graduates-with-40-cgpa-for-his.html

Is Covenant university not a better university than Texas A&M?

Come and sue me

tiger28:
Last year, it was Iffeanyi Uba crying" its because am igbo" , result=he had to give up capital oil to amcon. This year it is Innoson crying "its because am igbo", result = he SUDDENLY dropped his case against GTB. Next year will be Ibeto crying "its because am igbo,result= we all know that he like others ,will succumb to NUMBERS. You see ,numbers dont lie. You can cry witchhunt as many times as you can but contracts were signed, money (numbers) were loaned out and FORENSIC investigations commence. My point,ONLY Illiterates can think they can whip tribal sentiments in order to evade paying up. By the way ,has anyone listened to Innoson speak english?Stark illiterate. Iffy Uba is JUST a bit better......Shameless pigs!

See how you are displaying crass ignorance here.

1.) Capital oil I'd not under AMCON's administration.
2.) The case Innoson dropped is an ex-parte motion instituted as a result of his arrest by EFCC. There's no need for it anymore.

3.) INNOSON has defeated GTB 4 times out of 4 in the court of law whole GTB keeps winning in Afonja court of Sango.

ODVanguard:
Better go find a real job coz you're obviously an e-tout. For sometime now you've been sniffing like a dog all over the internet (and even went as far cooking up some fake news) for any news that creates the impression that your campaign of calumny against GTbank is bearing fruit. You better quit deceiving yourself coz GTbank is too big to fail over this matter. All of una put together too small to pull-down GTBank. Even if you people had the clout to threaten the bank (which you certainly do not have), you best believe that Yorubas won't just sit by idly like mumus and watch y'all pull that off. You are very jobless.

Is it the salary your brothers collect from salaried jobs that can sustain a bank?


Cry me an ocean mate.

ODVanguard:
And is Gtbank or Yoruba people the ones stopping you people from getting your Biafra?? I didn't know that Yoruba people were this powerful. Na slaves I know wey dey beg for freedom.

And BTW, Gtb has always been a grassroots bank, if they weren't, they wouldn't have given the likes of innoson and nestoil credit lifelines in the first place. You people are just a bunch of petty, attention-seeking and whiny louts.

Cry me a river.

TMemos:
Why are they not recruiting those planning to leave their jobs?

Unprofessional people

I taken it that Samsung and Apple are also unprofessional, right?