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Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days - Business (7) - Nairaland

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I Am Waiting To Take Over Gtbank - Innoson Boss, Chukwuma / Gtbank Debunks Rumours Of Court Order To Pay N12b To Innoson Boss / Court Declared Me Wanted To Embarrass Me – Innoson Boss, Innocent Chukwuma (2) (3) (4)

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Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Nobody: 6:43pm On Jun 07, 2018
slotA4:
I transferred all my money from GTBank just now. No time to check time. grin

Why are you behaving like illiterate uncivilized main market trader? The assets of GT Bank alone is more than 12 billion. NDIC will never declare GT Bank insolvent because of 12 billion naira or fraudulent judgement. The Ibos last year, said they will withdraw their money & the bank will fall, I said it is an empty noise. The bank continues to grow in strength despite the threat. Now, you think 12 billion will sink the bank when all your frauds cannot sink the bank.

It is your people that will lose at the end. Now, we know your behavior. You are envious of GT Bank.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by TundeBricklayer: 6:45pm On Jun 07, 2018
mysteryman2014:


Fake news
http://dailypost.ng/2018/06/07/breaking-innoson-floors-guarantee-trust-bank-supreme-court/
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by obailala(m): 6:46pm On Jun 07, 2018
Gbam!
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Hazardinho: 6:50pm On Jun 07, 2018
God bless you for reading beyond the headlines. Nigerians, Gosh
byteem:
WRONG INFO SIR

... THE SUPREME COURT INSISTED THAT GTB OBEY COURT OF APPEAL DECISION BY PAYING 14B INTO AN INTEREST YEILDING ACCOUNT IN ANY REPUTABLE NIGERIAN BANK . THIS WAS GIVEN AS A PRE-CONDITION TO HEARING GTB'S MOTION FOR STAY..

ONLY WHEN THE SUPREME COURT RULES IN FAVOUR OF INNOSON CAN THE MONEY BE TRULY PAID TO HIM...ITS NOT YET UHURU.

1 Like

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Maket: 6:52pm On Jun 07, 2018
Kcwise199:
This is what we call sweet victory. God bless Innoson motors. Igbo Businesses will survive against all odds. God will see Emzor Pharmaceuticals thru.
MY FRIEND, please try and watch BBC documentary on production and marketing of Codeine drug in Nigeria. You will raise the investigative journalism carried out on Emzor and see him as animal on human skin only after making money by destroying human life.

Congratulations to innoson.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Nobody: 6:53pm On Jun 07, 2018
MPESA:
grin you better do the needful now. #withdraw# urmoney#RUN......
Una dey read mind wella ocheesy

1 Like

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Nobody: 6:53pm On Jun 07, 2018
MPESA:
grin you better do the needful now. #withdraw# urmoney#RUN......
Una dey read mind wella ocheesy

1 Like

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Nobody: 6:54pm On Jun 07, 2018
MPESA:
grin you better do the needful now. #withdraw# urmoney#RUN......
Una dey read mind wella ocheesy

1 Like

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by shizzle1: 6:56pm On Jun 07, 2018
obailaila, the worthless and brainless scumbag come here

The denigrate that told us that innoson refused to obey court orders. The despicable Arrow that couldn't see that it was the fraudulent gtb that tried to circumvent the law for almost 3years in a bid to evade punishment slammed on them by a court who ordered them to pay innoson after the defaulted on a business agreement, yet some senseless doofus who supports the incompetent vegetable failure in aso rock wants us to believe their no underground unholy alliance between the awusa -Fulani efcc and the Fraudulent gtb to bypass the law


NOETHNICITY come here and lecture us about credibility

Stupid idiots everywhere

1 Like

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by CoolAmbience(m): 7:02pm On Jun 07, 2018
Lightening:


Where are those that alleged that Innoson is a fraudster?

The law must always be allowed to take its course, not blindly pointing finger at the government all the time.

Who could have called him a fraudster without any conviction? That must be silly.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by HomeOfMe(f): 7:03pm On Jun 07, 2018
Ezenwammadu:



https://www.google.com.ng/amp/s/www.thecable.ng/breaking-supreme-court-orders-gtbank-pay-innoson-boss-n14bn-14-days/amp
After 1diots have finished calling the poor man a fraud and a scammer. People hate to see others progress,despite his home-grown business. Hate kills a great deal.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by johnwell(m): 7:04pm On Jun 07, 2018
ogaontop:
A win win against GTB, EFCC, AFONJA's and ALL ENEMIES OF PROGRESS!

EFCC I know
GTB I know
Afonja I don't know,

Please what is Afonja?
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by maestroferddi: 7:05pm On Jun 07, 2018
We don't make noise.

We are Igbos.

We believe in justice.

No-one can bring us down.

We are God's special people.

3 Likes 2 Shares

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by HomeOfMe(f): 7:06pm On Jun 07, 2018
Ezenwammadu:



https://www.google.com.ng/amp/s/www.thecable.ng/breaking-supreme-court-orders-gtbank-pay-innoson-boss-n14bn-14-days/amp
Gtb is my favorite bank,but the way my people from the south-west made it a battle between the Yorubas and Igbos was reall terrible.
#saynototribalhate
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Anaskie(m): 7:08pm On Jun 07, 2018
babaolofin:


Why are you behaving like illiterate uncivilized main market trader? The assets of GT Bank alone is more than 12 billion. NDIC will never declare GT Bank insolvent because of 12 billion naira or fraudulent judgement. The Ibos last year, said they will withdraw their money & the bank will fall, I said it is an empty noise. The bank continues to grow in strength despite the threat. Now, you think 12 billion will sink the bank when all your frauds cannot sink the bank.

It is your people that will lose at the end. Now, we know your behavior. You are envious of GT Bank.
Bros calm down. Several banks have failed in Nigeria and NDIC/AMCON couldn't help them. At best, a stronger bank will acquire the assets of the Bank or there will be a merger.

Let's face facts, if N12billion leaves the coffers of GTB, it will definitely affect the bank's capital base.

Besides, if this is actually the Supreme Court's judgment, it will throw customers into panic withdrawals, thereby further damaging the bank's assets.

The best GTB can do now is to quickly negotiate terms of payment with Innoson to cover a long term period, else they might not survive this. Furthermore, they need to engage in aggressive PR to repair their damaged reputation.

The bank may not fall, but then it will greatly suffer and many jobs will definitely be lost

I have many friends in GTB. I pray this isn't true.

2 Likes

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by grandstar(m): 7:09pm On Jun 07, 2018
Lightening:


They court felt that innoson is entitled to #12 bills and that is all that matter. GTB stole their customer's money and you are alleging injustice not against the customer, but against the thieving bank. Shame on you!

Don't take it personal. Are you Igbo? It is not an Igbo or Yoruba or Hausa thing.

It is strictly business
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by TundeBricklayer: 7:10pm On Jun 07, 2018
Hazardinho:
God bless you for reading beyond the headlines. Nigerians, Gosh

BREAKING NEWS: JUSTICE AT LAST, GTB TO PAY INNOSON'S N14BILLION JUDGEMENT DEBT IINO AN INTEREST YIELDING ACCOUNT, SAYS SUPREME COURT

Today, 7th of June 2018, The Supreme Court struck out GTBank’s motion for stay of execution of the Enugu Court of Appeal Division’s order that GTBank pays over N6 Billion into an interest yielding account at the Court of Appeal. Innoson’s legal team which was led by Prof McCarthy Mbadugha ESQ told the Supreme Court that the Judgment debt which arose from excess and unlawful charges which GTB took from Innoson’s account now stood at over N14billion.

The Supreme Court decision follows GTBanks motion for stay of execution at the Supreme Court when the Court of Appeal Enugu Division ruled on 9th Dec, 2014 that the appellant (GTB) is hereby ordered to pay the sum of Five Billion, Nine Hundred and thirty Six Million, One Hundred and Twenty Six Thousand, Two Hundred and Nineteen Naira, One Kobo (N5,936,126,219.01k) to the Deputy Chief Register of the Court within 14 days from the date of ruling and which the Deputy Chief Register shall pay same into an interest yielding account in a reputable bank other than Diamond Bank or Mainstreet Bank Plc pending the determination of this appeal. The money together with whatever accrues thereon shall be paid to the party who wins the appeal.

GTBank not satisfied with the decision of the ruling of Court of Appeal, filled a motion for stay of execution at the Supreme Court, however Supreme Court today struck out GTB motion for stay of execution and maintained that it will not hear GTBank’s motion for stay of execution until it obeys the ruling of Court of Appeal to pay the said money into an interest yielding account.

By Supreme Court decision today, GTB is expected within 14 days to pay the sum of over N14Billion judgment debt to the Deputy Chief Registrar of the Court of Appeal Enugu Division and which will now be paid into an interest yielding account in a reputable bank. The money together with whatever interest accrues thereon shall be paid to the party who wins the appeal.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by poseidon12: 7:14pm On Jun 07, 2018
GTB should have settled this case out of court instead of trying to use the EFCC to intimidate the industrialist.

3 Likes 2 Shares

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by poseidon12: 7:17pm On Jun 07, 2018
madgoat:
12 Billion naira. That Innoson CEO is a fraud.

I hope you have your evidence.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by InvertedHammer: 7:19pm On Jun 07, 2018
babaolofin:


Why are you behaving like illiterate uncivilized main market trader? The assets of GT Bank alone is more than 12 billion. NDIC will never declare GT Bank insolvent because of 12 billion naira or fraudulent judgement. The Ibos last year, said they will withdraw their money & the bank will fall, I said it is an empty noise. The bank continues to grow in strength despite the threat. Now, you think 12 billion will sink the bank when all your frauds cannot sink the bank.

It is your people that will lose at the end. Now, we know your behavior. You are envious of GT Bank.
/
GTB could be declared insolvent. The asset of GTB is way more than N12b but that does not mean it is available in cash for day-to-day operations. Don't forget that the assets are by valuations only. N12b will shake GTB's foundations. Investors' concerns, customers' lack of confidence, poaching by competitors, etc can kill GTB. If ACB and CCB can go under, if Bear Stearns can go under, heck if Titanic could sink...what is GTB? Never say never. I am taking my money to IVM bank.
/

5 Likes 2 Shares

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by donbenie(m): 7:27pm On Jun 07, 2018
charain:
When did Innoson become a spokesperson for the supreme court.
The Freedom of Information law gives you the right to request for a copy of the said judgment,no need for you to be throwing INNUENDOS..
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Nobody: 7:31pm On Jun 07, 2018
Omeokachie:
Twelve gini?


GTB calculating the implication of this judgement on this year's profit after tax like...

I don laff scarah for here i swear lmao

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by profem1(m): 7:34pm On Jun 07, 2018
babeosisi:


If you saw this verdict and had accounts with large sums there you won't take it out?
If they make 170 billion and get a sudden rush of withdrawal's you sincerely think they will be in business?
I wouldn't want to be working for GT.right now
I won't take my money as long as it is GTB.

I know they can make much more. Moreover, they could possibly have provision for such litigation.

Although, market could react to the news for 1-2 days, the overall impact is quite insignificant.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Nobody: 7:35pm On Jun 07, 2018
Anaskie:

Bros calm down. Several banks have failed in Nigeria and NDIC/AMCON couldn't help them. At best, a stronger bank will acquire the assets of the Bank or there will be a merger.

Let's face facts, if N12billion leaves the coffers of GTB, it will definitely affect the bank's capital base.

Besides, if this is actually the Supreme Court's judgment, it will throw customers into panic withdrawals, thereby further damaging the bank's assets.

The best GTB can do now is to quickly negotiate terms of payment with Innoson to cover a long term period, else they might not survive this. Furthermore, they need to engage in aggressive PR to repair their damaged reputation.

The bank may not fall, but then it will greatly suffer and many jobs will definitely be lost

I have many friends in GTB. I pray this isn't true.

Ordinarily, I should not have answered you, but I noticed you mentioned NDIC/AMCON helping failed banks. You also talked about merger & acquisition. I suspect you are a little bit literate. With 12 billion out of GT Bank coffer, GT Bank is a failed bank? So, NDIC will help bank that can meet depositors obligations. What brought AMCON & merger & acquisition here.

Though, I attended higher institution in the East, but I retained my intellect as a South Westerner. Your people destroyed most of our failed banks. Remember, this is not the economy your madam left.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Duru009(m): 7:38pm On Jun 07, 2018
I said it b4,my prophecy has come pass!


Wailers over to you !
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by galadima77(m): 7:42pm On Jun 07, 2018
SalamRushdie:
The funny thing is that GT will skim from its customers to pay this Gbese meaning at the end of the day it's GTB customers that will pay and not GT

i don withdraw all my money na

2 Likes

Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by valinno(m): 7:53pm On Jun 07, 2018
This is a welcome development,congrats to Innoson
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by Nobody: 8:00pm On Jun 07, 2018
grandstar:
GTB can afford it but the perceived injustice is the issue. They definitely don't feel Innoson is entitled to a dime.

Anyway, the right thing for GTB to do is simply to pay up and respect the law. It has no choice

It will set a good precedent.
Iffa hear say GTB give out that kind of money. They will definitely appeal the judgement. Na today?
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by madgoat(m): 8:02pm On Jun 07, 2018
poseidon12:


I hope you have your evidence.

Come and beat me if i don’t have it grin
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by U1(m): 8:02pm On Jun 07, 2018
Only Goodness knows what I'm doing in a country like this one. Too many tribalistic bigots everywhere!

An issue will arise and in no time you'd see some saying Ibo this, Afonja that. And sadly, many people will like such annoying comments.

Tje future looks gloomy for the country if this is how its people think. You'd still see these awful comments in instances where people, especially politicians, do something bad, rather than condemning the act.

Only God knows... Money do me strong thing o.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by VULCAN(m): 8:02pm On Jun 07, 2018
So why didn't they pay the man all these years since the money was so small?

AZeD1:

Seriously?

Can't believe people are saying GTB is in trouble. How Ignorant can you guys be?

GTB made N170 billion after tax last year.

GTB made a profit of N52 billion in the first quarter of this year.
Re: Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days by labiola: 8:04pm On Jun 07, 2018
For those who were shouting GTBank will go down, sorry it will not go down. . The shareholder fund of Gtbank as at 31st december was 625b. They made 200bilion after tax. They declared total of 2.60k last year as divided. Though, the amount will have a negative effect on their performance for 2018 FY. 14billion can not sink Gtbank.

2 Likes 1 Share

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