We are not privy to the entirety of this issue, but from recent indication, I think EFCC, as a federal prosecuting and investigating unit, was biased with their excessive use of force to arrest Innoson even to the point of slapping a related party to the suspect.

According to EFCC, Innoson was invited but never honored the invitation. Innoson claimed he never got a invitation. The sudden rush to charge the matter to court is to buttress their arrest which has drawn public outcry even from senators. They did not anticipate the consequences of their action. Now I wonder what documentary evidences they possess to conclude that they have sufficient evidence to charge the matter to court - this is why fraud cases never see the light of day because EFCC is always doing a dirty job or seem not to understand their job.

Innoson on the other hand is partially right with the letter of credit - it doesn’t transfer ownership of consignment to the Bank. It only ensures that the exporter is being paid upon transferring shipping document. However, if Innoson has taken a loan to purchase the goods, a lien can be placed on the consignment. So Innoson should go and study the legal terms of his letter of credit.

All parties in this transaction are faced with reputational risk and so they are trying to clean their business in the public by engaging the media.

kidman96:


clods like these are the reason this country is still backwards. i dont think a reputable and big bank would go to this extent if they arent sure or without evidence. This is 2017 everybody has a smart phone and the internet is ever present and a case between these two companies will be closely monitored and always on social media. there will be evidence upon evidence because both parties have an image to protect. if he is innocent let him defend himself in the court of law, he is rich and can afford a good legal representation. nobody stops his business from operating.

we complain about corruption in Nigeria yet whenever there is a process to deal with corrupt Nigerians you all pick up ur phones and type rubbish because the internet is available for every idiot to spew thrash.

its obvious Nigerians deserve the leaders they get.

Reason like this person
There is a reason we are sceptical about efcc. You mean grass cutting scandal doesn't deserve to be investigated

Boss13:
We are not privy to the entirety of this issue, but from recent indication, I think EFCC, as a federal prosecuting and investigating unit, was biased with their excessive use of force to arrest Innoson even to the point of slapping a related party to the suspect.

According to EFCC, Innoson was invited but never honored the invitation. Innoson claimed he never got a invitation. The sudden rush to charge the matter to court is to buttress their arrest which has drawn public outcry even from senators. They did not anticipate the consequences of their action. Now I wonder what documentary evidences they possess to conclude that they have sufficient evidence to charge the matter to court - this is why fraud cases never see the light of day because EFCC is always doing a dirty job or seem not to understand their job.

Innoson on the other hand is partially right with the letter of credit - it doesn’t transfer ownership of consignment to the Bank. It only ensures that the exporter is being paid upon transferring shipping document. However, if Innoson has taken a loan to purchase the goods, a lien can be placed on the consignment. So Innoson should go and study the legal terms of his letter of credit.

All parties in this transaction are faced with reputational risk and so they are trying to clean their business in the public by engaging the media.

FrenchWay:
...
May God help u Innoson.

Pls I need advice, my neighbour's wife gave birth last month and it happens that coincidentally, the baby looks like me partially.
Now I'm beginning to hear some rubbish stories in my hood.
Is it possible for a baby to look like a neighbour? any explanation?

Very correct a baby can lock like a neighbour is that pregnant woman continues to see that neighbour everyday. Is called in print. That's why must pregnant women should be careful what they watch and see during pregnancy. If they continue to look at monkey when they are pregnant, the baby might be ugly like monkey when finally she was delivered. If that baby look like you and you are sure you no play ball with her then know is scientifically what we call in print.

arrestdarrester:


You just swallowed the Vanguard story hook, line and sinker and turn around to insult others because of the story? Innoson said the so called case has not been filed in court, otherwise he should be served notice!

You know what is funny about all these? Nigeria has become a place where the media tries cases.

Wait for supreme court judgement on the GTB vs Innoson case and stop all these please!

So in your dumb head you choose to believe Innoson not EFCC, papers etc. Am I talking to a nursery student?
So if a case is not filed in any court, why do you call it "charges".
GO read nursery songs, the case at the Supreme is different from this one.

[color=#006600][/color]...recent increase patronage of Innoson Vehicle by the federal government.

Good you admit this.

dafeyankee:
From day 1 I have said it.

This man is a criminal and he knows it. Stop trying to get public sympathy and go the courts to prove your innocence.

And those empty Egg Heads that were rushing to take their money out of GTB, how come you guys are now ashamed to show us pictures of you taking your money back to the bank?

Egg Heads.

""This man is a criminal and he knows it""


And GTBank who have been found guilty in 3 courts for stealing Innoson's money amounting to 500+ million naira are the saints. .

I think u have Same sense with bubu


Afonja

back2sender:

My brother it's Gtb I blame for acting to protect client and bank relationship for a man that has consistently refused to honor settlements agreement with the bank.
They should have moved against him long before now, the man is using the mode of potopoto children against Gtb to feign innocenti. This man evaded duty payments and also fail to honor a commercial agreement/contract with the bank. And potopoto children are dancing skelewu on top a fraudulent brother.
They will destroy this man the way they destroy gej with thier paper weight boisterous ways.

When you arrest someone and the person is asking why he was arrested and yet nothing concrete ....what do you call that? Isn't it laughable? When bank gives you a loan and you used that loan for importation of machine and your bank paid . Meanwhile the buyer sends the bill of ladden to your bank who is financing the importation . I think the bank should 've focused on the terms of loan rather than seizing the paper's. Are they now the importer. .? Did innoson fail to pay back the loan and interest as at the term is due? A lot of questions that needed to be cleared

Is this man still whining about his lockup? Focus on selling more vehicles so you can pay what you owe GTB to avoid next lock up.

Batam:

You are an illiterate in that field sentiment apart. It will take a banker in that dept. to explain to you in detail which I think you will still doubt.

I think you're the best stark illiterate here because you don't know what bill of lading is, go to your commerce text book or google can help you

dafeyankee:
From day 1 I have said it.

This man is a criminal and he knows it. Stop trying to get public sympathy and go the courts to prove your innocence.

And those empty Egg Heads that were rushing to take their money out of GTB, how come you guys are now ashamed to show us pictures of you taking your money back to the bank?

Egg Heads.

You don turn yourself to both the Accuser and the Judge at the same time.

Mediocrity, mediocrity , mediocrity, I have overtimes watched Magu against the Senate, he is not sound enough to head such critical agency like Efcc, taking an u investigated case to court, "shameful ".

brainpulse:
So in your dumb head you choose to believe Innoson not EFCC, papers etc. Am I talking to a nursery student?
So if a case is not filed in any court, why do you call it "charges".
GO read nursery songs, the case at the Supreme is different from this one.

Go check the meaning of 'charges' and come back here with an apology if it happens not to be limited to court vocabulary like you think

I support what ever means EFCC, DSS and rest of their joke groups can do to bring Nigeria to the mud


I support anything that will break nigeria

dafeyankee:
From day 1 I have said it.

This man is a criminal and he knows it. Stop trying to get public sympathy and go the courts to prove your innocence.

And those empty Egg Heads that were rushing to take their money out of GTB, how come you guys are now ashamed to show us pictures of you taking your money back to the bank?

Egg Heads.

I am sure you did not understand what you read, probably confused by the international trade terms used in the write up.

I often wonder why idiots are usually the first to make front page on nairaland and their comments as useless as their warped persona.

Customer80:
you have declared yourself a novice, why commenting? Collateral was collected by GTBank (properties) apart from the 25%lc, the bill of lading is not the collateral

Oga stop making a fool of yourself. The collateral collected was for his overdraft facility of 1.4b

And the corporate Comms person @ Innoson is being economical with the truth.

The bottom line is the seller didn't trust Innoson to make good on payment and GTB stepped and the goods were consigned to GTB with the understanding that they will be released to Innoson upon 25% down payment.


This obviously didn't happen and somehow Innoson was able to clear the goods without GT's knowledge or approval.

Same thing ifeanyi UBA did with Access Bank and NNPC when he went and sold PMS stored in his tank farm.

bokunrawo:
Mr man its like you've not been following this case critically, the problem on ground is about an unlawful arrest by Efcc without speculating the exact offence committed by the culprit, and in view of the whole scenario the arrest was a forceful one, from all indication the Efcc body actions are against the Constitution of the federal Republic of Nigeria and Fundamental human right (Right to fair hearing). However even if the man is guilty of any offense whatsoever the method Efcc used in handling the case is abysmal.

thank you at least we have some brains in the House

not like some Margot's without a single knowledge of understanding..

saying i know innoson is a criminal, nnaji is a bigger criminal.

efcc arrested him unlawfully, yet they still go about staining his name with all there rubbish, and this great Nigerian is saying is wrong! you can't go about calling me a thief when you have not found me guilty and you expect me to be quite.

Innoson is INNOCENT, EFCC Protect your own factories and economy, don't be so lose for an outsider to use you against your own.

Nasir123:
I will advise this man to stop talking and settle his matter with GTB,or better still wait for the Court(in the case of EFCC).
All this media stunt no go help matter.
Or,is he not a business man anymore?

Chill,and handle ur case well.

But efcc started the media stunt!!! Why release a charge sheet that is not before any court creating the illusion that the man had been charged to court?? As soon as I saw the date on that charge sheet, I knew magu is being clever be half. The guy is doing the right thing. Efcc go to press, the guy too goes to press to counter. Allowing one party time to push narrative without challenge is the reason APC is ruling

deenee:


Oga stop making a fool of yourself. The collateral collected was for his overdraft facility of 1.4b

And the corporate Comms person @ Innoson is being economical with the truth.

The bottom line is the seller didn't trust Innoson to make good on payment and GTB stepped and the goods were consigned to GTB with the understanding that they will be released to Innoson upon 25% down payment.


This obviously didn't happen and somehow Innoson was able to clear the goods without GT's knowledge or approval.

Same thing ifeanyi UBA did with Access Bank and NNPC when he went and sold PMS stored in his tank farm.

GTBank spokesperson why did innoson floor your bank in the law court? Was your statement not part of the issues why they are in court? Sentiments no go kill you

arrestdarrester:


Go check the meaning of 'charges' and come back here with an apology if it happens not to be limited to court vocabulary like you think

Stacked illitrate go sell spare parts

Charges: formally accuse (someone) of something, especially an offence under law.
"they were charged with assault"
synonyms: accuse of, indict for, arraign for;

2.
an accusation, typically one formally made against a prisoner brought to trial.
"he appeared in court on a charge of attempted murder"
synonyms: accusation, allegation, indictment, arraignment, citation, imputation; More

brainpulse:
Which case do I want to follow again with a business man? Let him explain himself with facts to the EFCC and stop this nonsense pity party.

Your own stupidity tire me sef. Do you have comprehension problem?

brainpulse:
What is laughable in the fraud issue on ground? If you have a case with EFCC simply go defend yourself with facts and if not satisfied take it to court to any extent.

Don't just whimp up nonsense sentiments every time just because some fools on social media will cry baby which will do nothing to the case.
The questions is how did he get the fraudulent shipping documents used to clear the goods when the original certified is still with GTB

In this same country Akingbola of intercontinental back was charged and convicted for fraud. Ibru also was also charged and convicted. Innoson you are not an angel whom can not commit fraud, you are a business man like any others.

Guy you know nothing about the Akingbola case.

Awoo88:

But efcc started the media stunt!!! Why release a charge sheet that is not before any court creating the illusion that the man had been charged to court?? As soon as I saw the date on that charge sheet, I knew magu is being clever be half. The guy is doing the right thing. Efcc go to press, the guy too goes to press to counter. Allowing one party time to push narrative without challenge is the reason APC is ruling

Remember , himself and his wife where the one who shout out at the initial stage of this saga.
Let's forget that now.

As a business man,you'll need a market and partnership with some big hands,that was why he went there for a loan in the first place.

This is about business, not a personal issue.
If u doupt me,have u heard of any big firm given out press statements on matters that's in Court? Maybe u can remind me of one. Why? Because that's not good for business.

I wish him well do.

Kid do without insults. Besides, you conclude too fast and you are a kid. It's no thread for you.

kidman96:


clods like these are the reason this country is still backwards. i dont think a reputable and big bank would go to this extent if they arent sure or without evidence. This is 2017 everybody has a smart phone and the internet is ever present and a case between these two companies will be closely monitored and always on social media. there will be evidence upon evidence because both parties have an image to protect. if he is innocent let him defend himself in the court of law, he is rich and can afford a good legal representation. nobody stops his business from operating.

we complain about corruption in Nigeria yet whenever there is a process to deal with corrupt Nigerians you all pick up ur phones and type rubbish because the internet is available for every idiot to spew thrash.

its obvious Nigerians deserve the leaders they get.

I think this is what happened,

innoson got goods based on letter of credit,

when such occurs all goods are written in favour of the bank.
the bank own the goods.
for e.g if u take a car loan from diamond bank,
diamond bank purchases the car on your behalf, but the name on the pro forma will be diamond bank/ur name with diamond bank being first level owner,
the bank will charge u for insurance and of course be debiting ur account for loan based on agreed terms, while u drive ur car, if at any point u default, the bank CAN seize the car from u.
I think initially gtb thought upon presentation by innoson on letter, they thought it was genuine hence innoson win in court upon presented evidence until gtb did its own investigation and knew some staff connived /forged doc.
hence because innoson has not paid, his account will be debited as running loan/credit whereas the forged doc clears innoson as paid fully( hence the claim of excess charge)
gtb has realized that the doc is forged.

deenee:
Oga stop making a fool of yourself. The collateral collected was for his overdraft facility of 1.4b

And the corporate Comms person @ Innoson is being economical with the truth.

The bottom line is the seller didn't trust Innoson to make good on payment and GTB stepped and the goods were consigned to GTB with the understanding that they will be released to Innoson upon 25% down payment.


This obviously didn't happen and somehow Innoson was able to clear the goods without GT's knowledge or approval.

Same thing ifeanyi UBA did with Access Bank and NNPC when he went and sold PMS stored in his tank farm.

Guy, the money spent on your education was NOT wasted!! You analysed the whole thing clearly.

greggng:



When you arrest someone and the person is asking why he was arrested and yet nothing concrete ....what do you call that? Isn't it laughable? When bank gives you a loan and you used that loan for importation of machine and your bank paid . Meanwhile the buyer sends the bill of ladden to your bank who is financing the importation . I think the bank should 've focused on the terms of loan rather than seizing the paper's. Are they now the importer. .? Did innoson fail to pay back the loan and interest as at the term is due? A lot of questions that needed to be cleared

See how you displayed your crass ignorance of the issues at hand.

Before I respond appropriately to you, go and read up incoterms for a start . Who are you refering to buyer here? Have you heard of what they called corresponding bank in international trade?

This man committed fraud against Gtb n custom duty subversion against the Federal government.

Customer80:
GTBank spokesperson why did innoson floor your bank in the law court? Was your statement not part of the issues why they are in court? Sentiments no go kill you

You should ask the law courts, who encourage illegalities during GEJ era.

An era of anything goes, and that's why innoson was winning.

Secondly Gtb did a poor assessment of the issue until they took the pain to visit the ports agencies, shipping lines, to discover the stench of how innoson has robbed them.

Am asking you here;

How did innoson released this shipments from mitsui O.S.K Shipping Lines when the original bill of laden document's is still in the bank's vault.
This man should go and settle with the bank, sentiments will not free him

back2sender:


You should ask the law courts, who encourage illegalities during GEJ era.

An era of anything goes, and that's why innoson was winning.

Secondly Gtb did a poor assessment of the issue until they took the pain to visit the ports agencies, shipping lines, to discover the stench of how innoson has robbed them.

Am asking you here;

How did innoson released this shipments from mitsui O.S.K Shipping Lines when the original bill of laden document's is still in the bank's vault.
This man should go and settle with the bank, sentiments will not free him

clueless statement coming from an emotional being. Go and sleep

lazygal:



Who is a criminal ..may God judge you from here for that evil statement
May you and all others trying to destroy this innocent. Hardworking man be put to shame and disgrace

Nurshah i found you out. why trying to be cunning? lol.

Nasir123:


Remember , himself and his wife where the one who shout out at the initial stage of this saga.
Let's forget that now.

As a business man,you'll need a market and partnership with some big hands,that was why he went there for a loan in the first place.

This is about business, not a personal issue.
If u doupt me,have u heard of any big firm given out press statements on matters that's in Court? Maybe u can remind me of one. Why? Because that's not good for business.

I wish him well do.

GTB had released it version of what happened through a third party. Refusing to comment directly. GTB have been doing everything to avoid paying the judgement debt. Efcc goofed big rushing to press and making arrest when for a matter that had already being dismissed by a court. If I my in innocent 's shoe, I will use the press at every turn. Owning the narrative is very important.

back2sender:


See how you displayed your crass ignorance of the issues at hand.

Before I respond appropriately to you, go and read up incoterms for a start . Who are you refering to buyer here? Have you heard of what they called corresponding bank in international trade?

This man committed fraud against Gtb n custom duty subversion against the Federal government.

Yet he got a judgment against the GTB and custom!!! And won again on appeal. The very case the police withdrew from.

back2sender:


See how you displayed your crass ignorance of the issues at hand.

Before I respond appropriately to you, go and read up incoterms for a start . Who are you refering to buyer here? Have you heard of what they called corresponding bank in international trade?

This man committed fraud against Gtb n custom duty subversion against the Federal government.

He committed fraud according to you, but who made you a judge over this matter? In law he is innocent until proven guilty by a competent court of jurisdiction . You 've not yet proven that but you've judged him to be guilty in your own court of public opinion . An allegation is not judgement. I heard he has won some of the cases in court and some are still in court till supreme court level. Wait for a competent court to pass judgement on him before displaying your ignorance here. I am not a lawyer but I believe due process is part of law