₦airaland Forum

Lothario:
Yorubas and their diabolical excuses for endorsing evil

Insult Yoruba all you like, but it’s not excuse for Ibos to be fraudulent.

legitnow:
EFCC IS IN ENUGU, Y DO THEY HAVE TO COME FROM LAGOS?


Y DO THEY HAVE TO TAKE THE IVM BOSS TO LAGOS?


IS HE DOING BUSINESS IN LAGOS.


YORUBA PEOPLE SHOULD KNOW BY NOW THAT THEY ARE CROSSING A VERY FINE LINE.


FORGET, OVER FAMILIARITY, LOOK VERY CLOSELY, U WILL NOTICE THAT IGBO PEOPLE IN GENERAL HAVE CHANGED.


WE ARE HEADING FOR A VERY BLOODY CONFLICT WITH YORUBAS.

This one is just crying up and down.

ogastone:
Because he is a progressive Igbo man, they want to spoil his name. Oya let them go and arrest Dangote let me see.

He’s a fraudulent Ibo man.

Is anyone targeting zenith bank?

nnokwa042:
may Fulani people rape all ur family members may boko haram be ur neighbour ,efulefu

Mynd44

Lothario:
They can't do anything on a basis of merit and qualification, they are so afraid of healthy competition. what are they afraid of ? so are they trying to say they can't beat igbos in a healthy competitive environment. are they that inept?

How is GT Bank competing with Innoson? What is their market?

Ibos and their diabolical excuses for accepting fraud.

This is innoson version.

Where is GT Bank’s version.

Ilovemystate:
part Two

http://innosonmotors.com/innoson-vs-gtb-priceless-lessons-young-upcoming-nigerian-entrepreneurs-pt-1/

INNOSON VS GTB: Priceless Lessons For Young And Upcoming Nigerian Entrepreneurs

Excess charges are unlawful, illegal and fraudulent and it is a crime

At all material times, Innoson Nigeria Ltd operates a current account with GTB. Subsequently, Innoson discovered that GTB imposed excess and unlawful charges in its current account.

Both parties agreed to invite an independent auditing firm that will be agreed by both parties, At the end, Multiwings Consulting Firm of Auditors was invited to properly audit Innoson Nigeria Ltd current account no 0043753636 domiciled with Nnewi Branch of GTB. The auditing covers a period from March 2004 to December 2011.

After the account was audited, it was discovered that GTB has been illegally deducting excess bank charges on its overdraft facility to 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).

GTB 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 him on the conclusion of its investigation.

In the month of September 2012, GTB wrote to Innoson that from their personal audit report, the excess bank charges was Five Hundred and Fifty-Nine Million, Three Hundred and Seventy-Four Thousand, Seventy-Two Naira, Nine Kobo (N559,374,072.29k). Innoson agreed to their version and decided to accept payment from it in the spirit of amicable resolution.

Innoson also requested that the said agreed amount of N559, 374,072.09k be paid with a 22% interest rate because he had been repaying all his debt with GTB at 22% rate. GTB refused and said the best they can repay is at 7%. This led to another disagreement between Innoson and GTB.

As a result, Innoson commenced suit No: FHC/AWK/CS/2012 against GTB at the Federal High Court, Awka and obtained judgment in excess of N4.7 Billion against GTB.

GTB appealed against the judgment to the court of Appeal, Enugu Division, appoxite Appeal NO: CA/E/288/2013. The court of Appeal Enugu in a considered ruling ordered GTB to pay the judgment debt of N6 Billion inclusive of the accrued interest and any interest that would subsequently accrue thereon into an interest yielding account in the name of the Chief Registral of the Court. GTB is yet to obey this judgment; however it went to the Supreme Court. The matter is yet to be resolved at the Supreme Court. Today that judgment debt is about N8 Billion.

GTB, having seen that the Judgment debts Innoson had against them is too much for them to bear and instead of calling Innoson to seek an out-of-court negotiation, they decided to initiate a trump-up charge against Innoson with an allegation of falsification of shipping documents and representing them as genuine in order to force Innoson negotiate with it from a position of weakness.

Excess charges are unlawful, illegal and fraudulent and it is a crime

For over 5 years that GTB had admitted it debited unlawfully excess charges from Innoson’s account; Innoson is yet to get his money from GTB

The reason why GTB have failed to pay their indebtedness to Innoson is still unclear.

Earlier on, the Federal High Court and Court of Appeal division in Ibadan had ordered GTB to pay the N2.4Billion belonging to Custom to Innoson. GTB is yet to obey this court judgment.

Irrespective of all the persecution Innoson got from GTB, he still persevered; he still fought his dream of establishing the first Vehicle Manufacturing company in Nigeria which today is a Pride to our Nation.

Innoson represents a hope and a guide to upcoming and young entrepreneurs who hopes to make a difference in our Nation. As a result, we are using this medium to bring this issue of illegal GTB charges to the attention of Nigerians in general and entrepreneurs in particular. #BewareofGTB

What Young And Upcoming Entrepreneurs Should Learn From It.

1. Monitor your money: don’t overlook any bank charges on your company accounts. Always demand that they explain the basis of every bank charges deducted from your account.

2. Get an Accountant/Auditor: they will help you uncover any fraudulent activities from your bank on your account.

3. Demand full disclosure upfront: when taking a loan from your bank or any bank, demand to know all bank charges upfront before accepting the money. Be ready to raise alarm if any sudden and hidden charges start occurring.

4. Demand all terms and conditions be stated in writing: any one can deny verbal agreements including your banker. So always demand for a written document for every terms and conditions or agreements reached with your banker.

5. Demand full payment with 22% interest: in the incident that you catch your bank stealing from you illegally through fraudulent bank charges, by law they are mandated to pay back all the money in 2 weeks with 22% interest. And if they fail to do so within 2 weeks, the law further mandates them to pay back all the money with 100% interest after the first 2 weeks elapses.

Malawian:
I want if Igbo people should fight for this guy. First, did he not see other Igbo controlled banks before he went to a Yoruba bank? trying to be more Nigerian than the Nigerians. This is still the same chap that was manufacturing spare parts for the Nigerian Air Force the other time. shebi him go get Sense now.

Lol no Igbo bank wants to do business with him

Amarabae:
#boycottGTBank.
This hashtag is going to start soon.
Where are the Ipob?
Start it, let every Igbos both business people and civil servants boycott the damned bank .
If you are Igbo and you have an account with them, please go and withdraw all your money there and close the account.
#BoycottGTbank

I support!! Let’s all start boycotting Igbo traders too

We’ll see where this will lead.

ehie:
s fraud that produced 70 percent of all plastic chairs you sit ur cursed behind on, a fraud like Bmcs,magu,maina,baru,el rufai, buhari,amechi,tinubu.at least he provides a semblance of industrialisation in this dying Country

I can't make sense out of this jibberish

Alday:
Please go back to school. Gtb admitted owing Innoson overcharges but the dispute is how much.

Gtb never accused Innoson of owing the bank and by the way, go and learn what an Ltd. means

Then Innoson has no worry, so why is he jittery in detainment?

Cyriloha:
You got so many likes which is very good but me you' didn't make any good sense to me what are you trying to day bla bla is strong because it wasn't built on fraud

Did innoson fraud you ; your papa oh I remember he fraud your mama or your uncle even your sister no even get Fadden left talk more of scamming them

Secondly your any any of progress before you speech is useless to me how can you be envious of such man the man that witch seff can't pull down
.Bros begg baba Gos make it be your turn because everything in life na turn by turn

Sound illogic.

Alday:
Who is he owing and when did he default.
First get it off your mind that a business borrow is bad. It becomes bad when you can't service your debt. Gtb actually overcharged Innoson in accumulation after the debt was liquidated

That's for mr innocent to prove himself innocent.
You don't have the answer, neither do I.

ehie:
Besides Magu is on that seat illegally since he as been rejected by senate, they should that their clean up there, u cant be "fighting corruptIon" when you are illegally imposed on the nation.we have been dragged into the gutter by buhari and his barbarians.

Innoson is a fraud. Let him defend himself. This has nothing to do with Magu.

dieBYfire:
[s]What makes you clean? And what makes me unclean ?
Stop using Mynd44 to chase ur enemies.
It won't stop the tribal war. You are the most tribalistic creature on NL.
So leave Mynd44 out of it. Unless he chooses to take sides [/s]

Nonsense as usual. You've been reported.

Alday:
So how does forged shipping documents concern Gtb when their loan has been repaid and they admitted over-charging interest but disputes how much?

So who told you GT Bank closed down the factory? The fake news media?

Innoson is still owing debts.

dandollaz:
[s]Have Nigeria finished servicing there Dept?
They give farmers non serviceable loans and charge industries huge amount.
They should not try to close only this one .
Quote me and be an afonja[/s]

Nonsense.

pedrilo:
look at dis foolish ignoramus! So u want GTbank to be liquidated because innoson is owned by an Ibo man? Are u serious? U r kiddin urself I swear

Lol they also want Ibo businesses in Lagos to fail

dieBYfire:
Call Mynd23 if you like ! Mynd44 knows I broke no rules!
Even if e ban am. I have 20 monikers dedicated to wreck havoc on goats like you

This is a duplicated ID. Mynd44. Rule 19

Ogaonos:
but if is ty danjuma company or dangote or otedola forte oil or dantata family dey owe dt moni 2 gtb.walahi gtb wil treat it as bad debt send it 2 cbn.mak dem send police 2 throw teargas 2 ty danjuma oil company whetha u no c igp go dey lay dwn dey apology 4 d mix up.na ordinary biz man dem dey lik flex muscles.while politicians ar owing loans dt ar treated as bad debts.

Stop the lies.

GameGod:
U sef u notice am.

lol

DerideGull:
I unfortunately came to understand you are a typical Nigerian who shy away from elementary research of an issue due to intellectual laziness. Please read about this case from another media and make more intelligent deduction than you have already posited.

Sigh..... is that all?

The ole tactic of insulting someone when you have nothing tangible to say. Lame

cescky:


If this is true shame on all the eastern governors.

This can't happen on wikes soil

thanks fo the joke

IgboticGirl:
We are watching



Let see who will tarnish the image of the its company more

Na today? Yoruba companies are stronger built than you

EloquentMedia:
I smell the handiwork of APC clamping down the remaining success stories of the east. Quote me anywhere

Ibos - I Blame Others but myself.


When FECC arrested Otedola, Yorubas came back stronger

www.nairaland.com/attachments/6435548_femipicture_png82793014ed9a15bd055168c0588e150c

tugrow:
This our first home make car company, government will turn their eye and look

It won't be our last.

We will get another one.

A honest businessman, not a fraudster.

It's not good to commit fraud.

When did EFFCC become GT Bank? This is EFCC not GT Bank.

Does Innoson owe GT Bank money? Did he give false information to obtain loan from GT Bank?

Did he sign a contract he neglected?

Did he commit fraud?

Ibo people should change from crying victim when they do wrong. A man that walked his two legs to the bank, took out loans and then refused to pay back, how is that a good business partner.

In the US, his business would have been liquidated to pay back his loans.

Investors beware.

Zenith Bank is standing strong because the business wasn't built on fraud. GT Bank is standing strong because it wasn't built on fraud.

https://media.licdn.com/mpr/mpr/AAEAAQAAAAAAAAVRAAAAJGNmYjExYTUyLWY4ZmUtNDNmMS1hZDk1LTk3MmRhYTRlNGQwZQ.png

I may not like Buhari, but any news outlet could have twisted the story as they do now.

ozoigbondu:
Pls show us the evidence of the fraud or keep quiet let adults talk

Show evidence of his innocence or keep quiet.

Crying victim is not a defense.

When EFCC arrested Otedola, Yorubas didn't cry victim.