https://twitter.com/AO1379/status/1111937742726926336?s=19


Here to correct ignorance. First, the fundamental issue here is between Innoson and Nigerian Customs Services, not GT Bank. Seems this guy didn’t bother doing any research before going on a fake news spree.

In 2004, Innoson imported 25 containers of motorcycle CKDs, for which he has a concession from Ministry of Finance to pay 5% duty. He allegedly paid based on 5%, but Customs insisted on him paying 30%.

While Innoson and Customs argued on the right percentage to pay, it seems Innoson’s goods were auctioned. So Innoson went to court and obtained a judgment to be paid N2.4b by customs. Got it?

Now Innoson took a loan from GTB, and also paid the duty through the same bank. So based on the court order, Innoson expected GTB to simply pay him N2.4 billion from the Customs account; or better still, use it to offset their loan with them.

GTB refused, and asked the courts for interpretation. Why? If GTB pays Innosson, NCS will hold the bank liable for its money, especially since the legal process hasn’t reached a logical conclusion. That’s the summary.

It seems this is the case that’s been discussed. Not to be confused with another matter, where Innoson accused GTB of overcharging it. That one is also pending at the SC.

Tweets by Akin Oyebode

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Akin Oyebode..NONSENSE!

Which kind quack lawyer be this one



It's like this one is still in pains like his Yoruba brothers Seunmsg and St0la that carried the matter on their shoulders since yesterday.

Nigerian. Customs are a shame.

5% to 30%. What is the margins for the business ? 25%... and all should go them?

They charge 70% for cars. We are poor not only because they steal from us but even the little we have they are charging ridiculous duties.

Now if you are to sell that same car. You are to pay vat. What’s this crap ?

How can we have anything to live on ?

damola1:
Nigerian. Customs are a shame.

5% to 30%. What is the margins for the business ? 25%... and all should go them?

They charge 70% for cars. We are poor not only because they steal from us but even the little we have they are charging ridiculous duties.

Now if you are to sell that same car. You are to pay vat. What’s this crap ?

How can we have anything to live on ?

I think registered importers get special waiver on imported vehicles unlike individuals who are not registered importers.

sonature1:


I think registered importers get special waiver on imported vehicles unlike individuals who are not registered importers.

Nothing like that o.

What innoson imported is completely knocked down (ckd)