₦airaland Forum

freeglobe aka globemoney giving it to d eweduterians as e dey hot..

every afonja is a tribalist by default. its open secret

freeglobe aka globemoney giving it to d eweduterians as e dey hot..

every afonja is a tribalist by default. its open secret

freeglobe aka globemoney giving it to d eweduterians as e dey hot..

every afonja is a tribalist by default. its open secret

deomelo whr r u
python1

hunger in d land.

sarrki. ur people re hungry

opera mini....

NwaAmaikpe:


Good for him, The bloody debtor is trying to whip up sentiments.

EFCC is on the right track, Gtbank is on the right track.

ifere mezienu gi biko onuku a

femarse:
comprehensive account of what happen
all yee tribal people shut up
who is innosun that the bank will be owing




Recently, the Innoson/GTBank story has gained so much media prominence, especially following the arrest of the Innonson chairman a few days ago by EFCC. Though the case is pending in court, Innoson has taken the battle to social media. There have been numerous sponsored social media campaigns against the Bank such as #BewareOfGTBank and #WhatIsWrongWithGTBank. The company has also gone Television, with its owner, Dr Innocent Chukwuma granting an interview to TVC, where he claimed he had obtained a judgement of N8bn against the bank. He added that the bank pleaded with him over their inability to pay, and that he graciously offered to accept shares of the bank as payment.

GTBank on their part has chosen to remain silent on the matter, perhaps trusting in the integrity of the legal system as against playing to the gallery. Many attempts by us to get the bank’s representatives to comment on the story has proven abortive. A staff of the bank who spoke under anonymity, stated “Irrespective of the issues we are facing with the company, Innoson remains a customer of the bank and we owe him a duty of confidentiality and to conduct ourselves in a responsible manner towards him”. This statement didn’t stop us from conducting our own investigations on the matter, and below are our findings, put in bullet points for your optimum understanding.

The obvious:

Innoson is, and still remains, a customer of GTBank.

What we discovered:
1. GTBank (in 2009) granted Innoson several credit facilities (i.e loans) totalling N2,400,000,000,00 (two billion, four hundred million Naira only), to part finance working capital requirements, import new motorcycles and motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment (“Imported Goods”).

2. Under the loan terms agreed by Dr. Innocent Chukwuma on behalf of Innoson, proprietary interest in the Imported Goods was consigned exclusively in favour of the Bank. This means that the Bank was the exclusive owner of the Imported Goods. Accordingly, the original shipping documents (i.e. the Bills of Lading) were in the custody of the Bank, and have remained in the custody of the Bank at all times.

3. Because GTBank was the exclusive owner of the imported goods, ownership of the goods could only be transferred to Innoson (or any other third party) by the Bank. The condition in the agreement between the Bank and Innoson, for the release of the Imported Goods by the Bank to Innoson, was the payment of 25% of the value of each Letter of Credit transaction by Innoson.

What we learnt:
1. Innocent Chukwuma approached the Bank, on behalf of Innoson, requesting the release of the shipping documents without payment of the agreed+ 25% equity. The Bank declined his request as a result of Innoson’s failure to meet the agreed conditions.

2. It came to the Bank’s knowledge sometime in June, 2011 that the Imported Goods for which the Bank declined to release shipping documents to Innoson in view of its failure to meet the agreed conditions, had been fraudulently procured by Innoson.



3. The Bank discovered that Innoson, under the control of Dr. Innocent Chukwuma had forged the Bank’s endorsement on the bills of lading to the Shipping Line and fraudulently cleared the Imported Goods which were in the name of the Bank. The Imported Goods, being property of the Bank should not have been cleared from the Port without the original shipping documents being endorsed by the Bank in favour of Innoson, or any third party.

4. The signatures of 4 (four) staff of the Bank, to wit, Taofeek Olalere, Dan Attah, Bunmi Adeyemi and Amazu Amalachukwu, as well as the Bank’s stamp were forged on all the shipping documents used by Innoson to fraudulently clear goods at the port. The Bank did not at any time endorse or transfer the shipping documents to Innoson, as the originals of each of the relevant Bill of Lading remain in the Bank’s custody to this very day.

5. When the Bank reported the matter to the Nigeria Police, Dr. Innocent Chukwuma claimed the Bank released the shipping documents to him. Consequently, the Police commenced investigation into the Bank’s complaint, including a forensic examination of the disputed signatures, and established that the signatures of the Bank’s staff were forged, and the Imported Goods were fraudulently cleared from the Nigerian Ports Authority by Dr. Innocent Chukwuma and his accomplices.

What we heard from the Police:
1. Police investigations confirmed that Innoson and Dr. Innocent Chukwuma deliberately set out to defraud, steal from the Bank and convert the Imported Goods belonging to the Bank by deceptive means and through forgery and misrepresentation. The unlawful takeover of the Imported Goods, which served as the Bank’s collateral, left an indebtedness in excess of the sum of N1,654,481,895.04 (one billion, six hundred and fifty four million, four hundred and eighty one thousand, eight hundred and ninety five Naira, four Kobo) as at September 26, 2012.

2. Chief Innocent Chukwuma was arrested and interrogated by operatives of the EFCC, following which he agreed to make monthly payments into Innoson’s account until the full liquidation of Innoson’s indebtedness to the Bank. However, Innoson defaulted in making the agreed payments. Investigations by the Nigeria Police following a petition by the Bank in September 2013 also found Innoson and Chief Innocent Chukwuma culpable of the criminal allegations levied against them by the Bank, and Chief Innocent Chukwuma was accordingly charged to court by the Police.

3. The Police filed Charge No. FHC/L/565C/2015-Inspector General Of Police And Innoson Nigeria Limited; Innocent Chukwuma;Charles Chukwuma;Maximian Chukwura; Mitsui Osk Lines; Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to November 21, 2017 for arraignment/or hearing of motion for issuance of Bench Warrant.

What Innoson did:
1. Innoson approached the Bank for a reconciliation of his account and pleaded for a debt forgiveness. A reconciliation was carried out on the account – which had a debit balance of N1,654,481,895.04 as at December 31, 2011. In the spirit of amicable resolution and EFCC intervention, the Bank said it agreed to forego the sum of N559,374,072.09 which represented default charges that has accrued on the account and debited in line with the loan agreement between the customer and the Bank.

2. Based on this, the Bank decided to accept from the customer, the sum of N1,095,107,822.95 as full and final payment of the customer’s indebtedness to the Bank, provided that same shall be fully paid not later than (30) days from the date of the letter written to him

3. Surprisingly, Innoson commenced suit no:FHC/AWK/CS/2012 against the Bank at the Federal High Court, Awka stating the bank had debited its account with excess charges totalling N559,374,072.09 and obtained judgement in excess of N4.7Billion against the Bank. Again choosing to dishonour an agreement that was amicable reached between him and the Bank for a full and final settlement of N1,095,107,822.95 wherein the Bank graciously forgave him the sum of N559,374,072.09 which accrued on his account during the period which he abandoned his account.

4. To further stall the criminal proceedings against him, Chief Innocent Chukwuma and his company instituted suits at the Federal High Court, Abuja, as well as the Federal High Court, Awka in January 2014 against The Inspector General of Police, The Nigeria Police Force and Investigating Officer(s), seeking declaratory and injunctive reliefs, including orders restraining the Police from commencing criminal proceedings against Innoson and Chief Innocent Chukwuma. Furthermore, in a bid to stall the Bank’s recovery steps, and distract the Bank from focusing on the criminal action, as well as civil actions filed for recovery of the debt, Chief Innocent Chukwuma and his company Innoson, have continued to institute various spurious suits before various courts, claiming frivolous and outrageous sums against the Bank.



What GTBank is not saying:
1. In responding to Innoson’s motion for a stay of criminal proceedings at the Court of Appeal, the Honourable Justice J.S Ikyegh on September 17,2017 dismissed the motion for being unmeritorious and ordered that proceeding in the criminal case against Innson should proceed.

2. On October 12, 2017, the Police through its Charge No. FHC/L/565C/2015- filed an application for the issuance of bench warrant against Innocent Chukwuma; Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to Decemeber 8, 2017 for arraignment/or hearing of motion.

What we think:
Innoson should stop trying to play the underdog and simply resolve his issues through legal means or arbitration. On Innoson playing the Igbo tribe card, this is not in good taste in this moment in history. We are aware of GTBank’s strong position on unpaid debts. We know GTBank has gone often several debtors of the bank irrespective of who they are or where they come from. So why is Innoson’s matter now tribal? Please, this makes no sense. Innoson and GTBank, resolve your issues privately and let us all hear word.

Merry Christmas my people
James Osaremen
Lagos

why did u fraudulently leave out the fact dat police withdrew the forgery suit against Innoson under d pretence of more investigation. they re yet to refile the suit after so many years

Papanwamaikpe:
He's only following Aisha Buhari's 10m naira handbag footstep. Nice one Nwanna

u rr a disgrace to me


so na u. so na u.

how much be gold circle self wey u no fit buy

na u be papanwamaikpe na u be nwamaikpe papa

Henry.. bros dat sk knock me.

2face.. ordinary sk knock u. wen na Arizona i wan make we high tonight

smogup:
Big ugly lier.

How come all your children schooled abroad?

How come he had been traveling abroad for treatment before he became the President

Pls tell us another lie. Only zombies will believe this.

he didn't say he doesn't know how to steal money..

transformed:
See as Deji was rolling out figures. 700m @ 20% interest rate will take more than 10 years to become 6 billion...

no. 4.5 billion was awarded to innoson at 22% interest
a seperate 2.5billion was awarded to him also add it up

admax:
I would take anything said by politically exposed person like this guy and Reno with a pinch of salt.

What concerns this guy and Innosson if it's not politically influenced? oh, he love Innosson shey?

Where is the proof of all this nonsense he is saying?

At the risk of you thinking I support any political party in Nigeria, there is no difference between politicians in APC or PDP, both has rogues and thieves.

https://www.premiumtimesng.com/promoted/248936-innoson-vs-gtbank-no-application-issuance-bench-warrant-innocent-chukwuma.html


here is everything abt d issue..


Gtbank will loose 4 sure.

Anichebe got so many exes. u can call him x-boy

modaink333:
It won't change the fact that Arsenal will not carry the champions League until 2080



Oya Haters come after me

no hater

everything u said is true

samvega:
This Innoson GTB drama has been playing out since 2012 , check here for full details

https://www.premiumtimesng.com/promoted/248936-innoson-vs-gtbank-no-application-issuance-bench-warrant-innocent-chukwuma.html

GTB closed 2016 with total assets of N3.12 trillion with a growth of 23.4% one of the top industry growth records, I think they can pay up na, what do you think?

Gtbank be grasping at straws. they must pay Innoson the money awarded him by court

no 7 na lie..
ear phone dey make person shout for call

MrsNwaAmaikpe:
ok

hope u dey mumu like ur oga

boman2014:
98.3774% accurate


funkirisky

Iseoluwani:
funkerisky

baberisky

apga is growing...

nice one Obiano

APGA.

crafteck:
Oga, on my 3rd ml cos cars bore me easily, ive gone through 4 bmw x5s, all this in the last 7yrs,im not rich, but i thank God like crazy cos he suprises me everyday, each tim one door closed, he opend a gate... So you that can afford jack, how many houses you get for banana island...

bla bla bla
online big baller on empty stomach.

shift make we see road

ipodstinks:
Which aba bros? No start what will make you run.

no be today afonja begin beat chest

his majesty's
emperor musiwa


the greatest yoruba man dead or alive

the authentic Aare Ona Kakanfo ( anu nkanka mpi)
rhe only yoruba who all yoruba should worship

the only yoruba wit map to hell....

even ur silence says a lot

king of yorubas

i hail oo

jagaban

they even list coscharis rice mill


i thought you guys said Anambra rice is a scam. how come the FG is now claiming it as thr achievement

crafteck:
Mr high class, has he made a name worth hearing to you in the automotive industry, you realize the statement'' benz or nothing' 'no be just cos of the price of benz.... You are so eager to fight over this trivial issue .. Oga go and face ur family problem...

i laugh wen some fellow who cant afford jack come online to spout benz or nothing.

in ur case leggedis benz or clutches

crafteck:
Mali lol... Of all countries. Tricycle /keke has sold a lot, does that mean its durable?

ur hate only ends here....

Innoson is waxing stronger while u wallow deeper in ur poverty

Samstyle:
Hello everyone, today we will discuss some wrong English sentence/phrases that is prevalent among students. Most especially, in Nigeria.

I advise you read painstakingly and study the sentences, as they will help you improve your grammatical structure.

Now, let's get going.


1. BIRDS OF THE SAME FEATHERS.

Note that the proverb " birds of a feather" is never "birds of the same feathers". The correct form of this is;

"Birds of a feather" Not "Birds of the same feathers"


2. POSSIBLE BEST or BEST POSSIBLE

Avoid the use of "BEST POSSIBLE" or "POSSIBLE BEST". Simply say "BEST".

For example, " I will try my best"


3. SO AND THEREFORE

Note that, it is wrong to use "SO" and "THEREFORE" together or "STILL" and "YET" together. You must only use one.

For example:

- I know him, So therefore... (wrong)
- I know him, so... Or I know him, therefore.... (Correct)



4. PRESENTLY AND AT PRESENT

Note that the word " PRESENTLY" means "very soon". It does not mean "AT THE MOMENT". So, if you mean to say 'Now', say "AT PRESENT" or " AT THE MOMENT".

"I will see you presently", means I will "see you very soon"


5. " I was introduced to the Chairman and the Vice Chairman of company"

" I was introduced to the Chairman and Vice Chairman of the company"

I know many many will not be able to tell, which is right or wrong. Nevertheless, since the Chairman is not the same as the Vice Chairman, it is necessary you repeat the definite article (the).

6. "If I were wrong, I'd be the first to admit it."

" If I was wrong, I'd be the first to admit it."

Well, in this case, the first sentence is correct. This is because subjunctive mood requires "WERE", when the conjunction "IF" introduced a supposition.

7. "Nothing shall ever come between you and i,' he told her."

"Nothing shall ever come between you and me,' he told her."

The correct sentence here is, "Nothing shall ever come between you and me,' he told her." Because, the preposition "between", is always followed by the objective form of the pronoun.

8. "Can you imagine him forgetting a date like that?

"Can you imagine his forgetting a date like that?

The correct form here is the second sentence. Be the possessive case ( his) should be used for a pronoun followed by a gerund

9. It is worthy to Note that the response "HOW DO YOU DO" is not a question requiring a further answer by the one introducing himself or herself. However, in greetings, if. Mr A ask, "how do you do" Mr B will respond with "how do you do, too"


10. TO BATH / BATHE

To BATH, means "to wash the whole body" whereas "BATHE" means "to wash a path of the body, especially one which is in pain.

E.g " The doctor ordered that he BATHE his sprained fingers in tepid water"

Source:
www.myschoolnews.ga/2017/12/12-wrong-english-sentence-you-have-been.html?m=0#more



Having known all these, I hope you were very delighted.

4 is wrong.

presently also means happening now

PMWSpirit:
wrong. That sachet na 50, SK na 100

addict spotted

crafteck:
They delivered them means the cars are durable, do you know how many cars toyota recalls to protect their name, can this company do the same if a problem is detected? Leave the tribal thing and be objective, e. G ive been in about 3 accidents, you just have to respect german cars, their performance and the security features embedded in them, a bmw i hit with mitsubushi went from 100 to 0 in like 3 seconds, my mitsubushi no get choice but to hit am... Get d point?

shifting goal post...

pls shut up. u ve nothing to say...

few months ago. government of Mali bought 400 vehicles from Innoson....


ur hate proves nothing

yanshDoctor:
this guy needs to start from the bottom. produce low budget cars first. money people can risk on innosen. after they have build trust on the brand they might try bigger ones. for now no body will risk spending millions on innosen. they would prefer used benz instead

pls shut up

I'm close to one of thr delivery drivers.... they delivered 5 G80 to someone in Imo state..