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Investment / A by Mystick: 9:28am On Apr 07, 2019
A
Politics / Re: Reps Panel Summons Emefiele, Others Over N33 Billion Missing Pension Fund by Mystick: 6:46am On Apr 05, 2019
Another Maina has been groomed and handed down a work prescription similar to what Maina did, which is loot the pension money and use it to sponsor Mr Integrity election.
You will see that EFCC will develop blocked ear and eyes. See nothing and hear nothing because the looting was sanctioned from above.

4 Likes

Politics / Re: President Muhammadu Buhari To Decide Justice Onnoghen's Fate by Mystick: 1:23am On Apr 04, 2019
That a report was submitted to the President doesn't connotes the sole responsibility of deciding the accused fate. The report may have recommendations which can also be seen as directive of what to do next with the case which we are not privy of for now.
They could recommend his reinstatement or retirement.
Politics / Re: Photos From Governor Wike's Thanksgiving After He Won Governorship Election by Mystick: 1:06am On Apr 04, 2019
They are not many governors that will withstand what Wike withstood and conquered. Even Anaechi couldn't survive it when Wike came with federal might.
While Wike combined the Federal might with the people's support to defeat Amaechi's supported candidate, Amaechi combined the Federal might with violence and killings but failed to defeat the people's will and Wike.

152 Likes 12 Shares

Politics / Re: Outsiders Barred As Buhari Reverts State House Medical Centre To Clinic by Mystick: 8:53pm On Apr 01, 2019
Selfish and heartless person, always thinking only of his immediate cycle. Leave it as medical centre, no, he only wants it to service his immediate cycle who can even afford better as against those who need it the most.
Politics / Re: Alleged False Assets Declaration: Onnoghen To Call CCB Director As Witness by Mystick: 2:01pm On Apr 01, 2019
They only want to keep this man busy for as long as they can.

1 Like

Politics / Re: Video: Ooni Links Aje Festival To Industrious Igbo People by Mystick: 10:42am On Apr 01, 2019
xtgozie:
The most Powerful Royalty in the Yoruba lands, has decreased the Igbos as the custodians of prosperity in the world, even before the Jews.....

WATCH VIDEO
https://m.youtube.com/watch?feature=youtu.be&v=UZ8BA4l9oK0
Declared I think.

2 Likes

Health / Re: Woman Misses Medical Checkup To Vote In Akwa Ibom,Dies 1 Week After Election.PIC by Mystick: 10:31am On Apr 01, 2019
gaby:
The people she voted for should sponsor her burial.

But how could she have skipped her check up on election day when there was a restriction on movement?
You missed it, read it again. Her fear was that since election day is so close, she might likely be confined within the hospital when the election day comes up. Hence she will not vote as she is sure base on the critical nature of her condition that she will be given bed rest. Not that the decision happened on the exact day of the election.
You can even read where the son said he tried to make her change her mind.
Politics / Re: Buhari Furious Over S’east Security Report, Ikpeazu, IGP, INEC Chair Implicated by Mystick: 11:53pm On Mar 31, 2019
Story. No forensic examination of Kano, Zamfara, Kaduna, Katsina, Niger etc results and card readers. Mr President start from there.

5 Likes 1 Share

Business / Re: How Did GTB Bank Enter Into This Mess With Innosson by Mystick: 8:34pm On Mar 31, 2019
Innoson has boxed these people to a tight corner o.
By the time he is done with them, they may be the one begging him to take the 50% share he is asking for.

1 Like

Business / Re: How Did GTB Bank Enter Into This Mess With Innosson by Mystick: 4:47pm On Mar 31, 2019
vivalavida:
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.
Na wa oh, see as GTB is just roping itself. See money name flying back, front, left, right and centre.
They just wanted to liquidate innoson but right now seems they are going down.

2 Likes

Business / Re: How Did GTB Bank Enter Into This Mess With Innosson by Mystick: 10:43am On Mar 31, 2019
cifo1145:
Trouble sit down yanga go wake am....GTB don buy market....Them go pay from their nose and ass....They should start trading with the said amount on forex maybe they can double it before supreme court rulings.
What you now see is the supreme Court ruling already.

2 Likes

Business / Re: How Did GTB Bank Enter Into This Mess With Innosson by Mystick: 10:39am On Mar 31, 2019
Passionate888:
Can you please expantiate on this? How and when did it start. Thanks
Innoson took a loan from GTB which he was still servicing before custom impounded his goods and auctioned it. He went to court for damages against custom which has a domicile account with GTB, a bank he also took a loan from. He won the case and N2.4b from the money he pleaded was awarded to him. Since custom has an active account with more than that amount with Gtb he joined the bank to the case. Secured an order mandating the bank to pay him from the customs account but the bank defaulted maybe partly due to Innoson proposed method of settlement, where he asked them to deduct their loan and pay him the balance now linking the loan to the Court rulings or maybe they hoped to upturn the ruling. The case dragged on till now. That is all I read about the issue. But why they couldn't settle amicably outside the court till now is what baffles me.

1 Like

Business / Re: How Did GTB Bank Enter Into This Mess With Innosson by Mystick: 10:20am On Mar 31, 2019
donvat1:
there are two case here
1) a case of over charge and
2) a case with custom that equally involved gtbank
This one is the custom's case but fully on GTB responsibility to liquidate according to the initial court ruling that they dragged on to the Supreme Court and now this.
The second one is N14b suit of criminal or fraudulent overcharge against GTB from the same Innoson which he has already won in both FHC and Court of Appeal before GTB appealed to the Supreme Court which is still pending there. If Supreme Court upholds those rulings from the two lower courts then it will be another terrible blow. N14b is involved here o.

2 Likes

Politics / Re: Innoson Seals GTB At Bridgehead Onitsha by Mystick: 10:09am On Mar 31, 2019
Marotzke:
How GT entered into this mess?
Simple, the same way most people lose money ; carelessness.
They were judging the man by appearance, they never suspected extreme deviousness.
They assessed the man by his simple peasant dressing, badly spoken English with heavy Igbo accent.
A school certificate holder with more money than sense.
Someone they could take advantage of. They started by overcharging his accounts.
The man kept egging them on by showing apparent stupidity and innate weakness .
They never knew this " uneducated, igbotic, peasant" was harbouring dangerous thoughts.
Now he has them by the cojones and they don't even have the decency to acknowledge that they have been outsmarted by a spare parts dealer..
GT would not have tried this with Jimoh Ibrahim, Juhel Pharmacy, or Abdulsamad Rabiu.
They would suspect these people to have sense.
But Spare parts dealer? No.
Now they are paying for it.
The directors have a lot of explanations to make to other share holders. No matter how we paint it, it is already giving them a big blow. Imagine branches are getting sealed already.
Politics / Re: Innoson Seals GTB At Bridgehead Onitsha by Mystick: 8:41am On Mar 31, 2019
Marotzke:
The panic withdrawals will not be due to 8 Billion Naira judgement, but due to the steps Innosons is taking to recover his money.
As at now all the GT bank branches in Anambra, Enugu and Ebonyi States have been sealed via a court order. More will follow.
What if by Monday, the Nnewi man proceeds to seal off GT Bank headquarters in Victoria Island ?
He has a supreme court judgement, and a federal high court order to seal, seize and auction..
GT shares will definitely take a hit ,this week.
How did they enter into this mess is what worries me. They are completely trapped. Innoson still has another N14b case against them pending in Supreme Court. He has already won the case from FHC to Appeal court, should the supreme court upholds his winnings, that will be another big wahala. Around N22.8b will be going to just one person because of some carelessness of the bank management. Funny enough, the amount is not even fixed, it is still vomiting billions as long as the issue lingers un-liquidated.

4 Likes

Politics / Re: Nairalanders Donate N1000 Each To Save GTB From Innoson by Mystick: 8:15am On Mar 31, 2019
My N1050.29 balance in their bank is safe, I don't need to withdraw it.
My concern is that second pending case at Supreme Court, it is N14b suit from same Innoson. He has already won in the two lower courts on his way to Supreme Court. Should the Apex court upholds his winnings so far in that case, it will be another terrible blow again. What is even happening? The question is how did GTB get trapped like this? Why didn't explore other means to sort things out with him?
Politics / Re: Circular On Purported INNOSON Taking Over GTBANK Was False. by Mystick: 6:42am On Mar 31, 2019
MetaPhysical:


Unless you first obtain a legal ruling giving the go ahead to impound my property for default, you are not legally authorized to convert my property to a debt i owe you ordinarily.

You guys do not understand the law of your land. Please dont go and try this nonsense with someone knowledgeable in law....you could end in prison for "theft by conversion".
Dey here dey speak grammar, Innoson has already sealed off GTB branch in headbridge and I believe many will follow by Monday.
To make matters worse, he still has another pending case of N14b in Supreme Court. He has already won in both FHC and Court of Appeal. They are now in Supreme Court. I don't know how GTB got trapped like this. They could have settled this matter long before now.

1 Like

Politics / Re: No Plans To Dump APC — Okorocha by Mystick: 6:09am On Mar 31, 2019
The party has already dumped you. They have set up their attack dog (EFCC) waiting for you and other governors whose actions and inaction affected their performance in the just concluded elections.
EFCC is coming after you, yari and Amosun but had been fighting in court for court to just have EFCC look at Oshiomole.

17 Likes 1 Share

Foreign Affairs / Re: Russia Orders The United States To Get Out Of Venezuela Immediately! by Mystick: 1:25am On Mar 31, 2019
Heading said one thing and body said a different thing.

1 Like

Politics / Re: NASS: APC Moves Against PDP Plot To Snatch 13 Senators-elect by Mystick: 12:48am On Mar 31, 2019
Let the senators choose their leaders. All these moves will only give the opposition party upper hand as all the senators are selfish and can easily be encouraged to run for the position against the party's choice.

15 Likes 3 Shares

Politics / Re: Innoson Seals GTB At Bridgehead Onitsha by Mystick: 12:26am On Mar 31, 2019
I'm afraid of the next case, that one is N14b against GTB by same Innoson. He has already won in FHC and court of appeal and currently case is already pending in Supreme Court.
By now I believe the bank will already be regretting ever doing business with Innoson and the step they have taken so far.

8 Likes

Family / Re: Is It Appropriate For 18+ Lady To Wash Her Father's Under wear? by Mystick: 5:50pm On Mar 30, 2019
This is why I always say that some boy friends are just there to spoil people's daughters and bring problems between them and their parents. Imagine your friend planting this disobedient attitude inside the girl.

12 Likes

Politics / Re: Breaking: Oshiomhole Disowns Amaechi by Mystick: 11:21am On Mar 30, 2019
He will know about it when the man wins and joins APC.

3 Likes

Politics / Re: What I Saw On Wikipedea About Innoson And Gtbank by Mystick: 11:17am On Mar 30, 2019
That is just a platform. Anybody can submit any nonsense there just like you did now and started shouting Wikipedia.

17 Likes 1 Share

Politics / Re: #innosontakesovergtb Trends Online by Mystick: 10:02am On Mar 30, 2019
Innoson really played fast one on this guys. But he can't take over the bank or get anything close to the 50% share he is looking for.
Politics / Re: Israeli Warns Nigeria: No Harm Should Befall Nnamdi Kanu by Mystick: 9:50am On Mar 30, 2019
A joke and fake news.

10 Likes 1 Share

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