Chief Innocent Chukwuma, Nigeria's foremost indigenous auto industrialist and chairman of Innoson Nigeria Ltd, has accused the Economic and Financial Crimes Commission (EFCC) of interference in his legal battle with Guaranty Trust Bank Plc (GTB).

In a statement sent to journalists by his spokesman, Cornel Osigwe, Chukwuma noted stated that the EFCC is pursuing the interest of GTB on the pretext of exercising its statutory investigatory powers and curbing financial crimes.

Part of the statement read:

"Sometimes in January 2022, EFCC invited Prof. J. N. McCarthy Mbadugha, SAN - counsel to Innoson Nig Ltd- to an interview on 1st February 2022. Mbadugha honoured the invitation."

"During the interrogation, EFCC showed him the counter affidavit to show cause which his secretary deposed to and filed on 23rd March 2011 in opposition to GTB’s affidavit to show cause in a matter which has been decided by the Federal Court and the decision of the Federal High Court which has affirmed by the Court of Appeal is presently pending at the Supreme Court- SC. 694/2014."

"EFCC told Learned Silk that the depositions in the counter affidavit to show cause were false and asked him the source of the information. But the learned SAN emphatically told EFCC- its personnel interviewing, embarrassing and humiliating him- that the depositions are true."

"That it was his client that provided all the information he used in prosecuting the case and that he verily believed his client. The Learned Silk insisted that both the trial court and Court of Appeal found that the depositions in GTB’s affidavit were false and that GTB did not deny the depositions in the counter affidavit of 23rd of March 2011 and that he relies and stands on the judgments of the two courts which have settled the matter and can only be overturned upon appeal and not the needless belated charade of investigation of the truth of the stated facts. EFCC kept him in its custody for over 7 hours."

"Subsequently, his counsel, Chief Mike Ozekhome, Ph.D., a renowned Senior Advocate of Nigeria filed, at his instruction, a fundamental human rights suit at the Federal High Court, Abuja Division against EFCC and 5 other persons which includes GTB."

"Consequently, following, an ex parte application at the Federal High Court Abuja by Chief Mike Ozekhome, PhD, SAN praying the court for an ex-parte Order of Injunction restraining the EFCC from inviting, arresting or detaining or keeping in its custody the counsel to Innoson Nigeria Ltd, Prof J. N. Mbadugha SAN, in relation to the frivolous allegations which he knows nothing about pending the hearing and determination of the substantive originating motion."

"The Federal High Court granted the application and ordered that status quo ante bellum as of 7th February 2022 be maintained until the determination of the originating motion."

Chief Chukwuma added that the motive behind the renewed interest by the EFCC to launch an investigation in a matter already decided by the courts can only be explained by GTB. He said this is not the first time that EFCC has chosen to take sides with GTB and allowed itself to be involved in matters that are not matters of crime.

Innoson Demands GTBank Pays N32.87billion Over Illegal Charges

Recall that in order to get N32.87 billion from Guaranty Trust Holding Company, Innoson had demanded that the company stop its restructuring.

Innoson asked a Federal High Court in Lagos to intervene in the pending debt allegedly owed by the financial institution since 2014.

The amount rose to N32.87 billion due to interest accrued over the years, although Guaranty Trust denied the claim that it is indebted to anyone.

APC is torn between Osinbajo, Tinubu and Emefiele’s people, each pushing their own candidate and agenda

There is currently a division in the All Progressives Congress (APC) over the presidential ambitions of some of its prominent members, which is capable of tearing the ruling party apart.

When a political group, The Green Alliance TGA, on Saturday, launched an initiative in Lagos to draft the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, into the 2023 presidential race, little did Nigerians know about the driving force behind the campaign.

SaharaReporters has exclusively learnt that a cabal led by the Attorney General of the Federation (AGF), Abubakar Malami is strongly behind the push for Emefiele to succeed President Muhammadu Buhari, ahead of other strong contenders in the party. Another prominent member of the cabal is media entrepreneur, Nduka Obaigbena.

Obaigbena is the founding Chairman & Editor-in-Chief of the THISDAY Media Group and ARISE News Channel.
For instance, the National Leader of the party, Bola Tinubu has publicly declared his intention to run for President and even though Vice President Yemi Osinbajo has yet to officially declare to run, sponsored groups across the country have been ‘begging’ him to also join the 2023 presidential race.


A top source in the party told SaharaReporters on Sunday that the “APC is torn between Osinbajo, Tinubu and Emefiele’s people, each pushing their own candidate and agenda”.

At the weekend, Emefiele’s supporters, mainly youths, spotted white T-Shirts with the inscription MEFFY 2023 at the occasion held in Lagos to draft him into the race.

Convener of the group, Wale Fapohunda, told the gathering that since Emefiele’s appointment as CBN Governor, he had spent his energy building a resilient financial system that can serve the development needs of the economy, ignoring the glaring fact that Nigeria’s economy has dipped to its worst state ever during Emefiele’s tenure as CBN governor.

However, SaharaReporters has also learnt that Emefiele’s declaration did not start at the weekend. Indeed, it started with the recent FCT mega rice pyramid, an initiative under the RIFAN/CBN anchor borrowers’ programme, but used to sell the candidacy of the CBN governor.

President Buhari had on Tuesday, January 18, 2022, unveiled the rice pyramid in Abuja, in the presence of some governors and other dignitaries.

“The rice pyramid was conspicuously the first open declaration,” a source in the Presidency told SaharaReporters.

“The cabal led by AGF, Malami told Buhari they’ve settled for a Technocrat. This came after rejecting the President of African Development Bank, Akinwunmi Adesina, and Obaigbena is spearheading this,” the source added.

Obaigbena, it was also learnt, has additional motivation to throw its weight behind Emefiele considering the financial support AriseTV has been getting from the CBN.

“CBN has been funding AriseTV and forcing banks and money transaction platforms to advertise on the TV. That was the reason why Obaigbena said recently that Nigeria’s president would not come from those who are declaring,” one of the sources said.

Obaigbena in October 2021 also said nobody could predict what would happen in 2023 regarding who would become Nigeria’s President.

SaharaReporters gathered from one of the sources that Isa Funtua’s son, Abubakar, is “part of the crew working on Emefiele’s campaign”.

“You know, they bought 9mobile,” the source added. Isa Funtua was a close ally of President Buhari, who served as a minister in the Second Republic.

This had prompted former Vice President, Alhaji Atiku Abubakar, in January 2019, to lambast the Economic and Financial Crimes Commission (EFCC) for “failing to investigate how Alhaji Isa Funtua, a close ally of President Muhammadu Buhari, who acquired Keystone Bank and 9Mobile (formerly Etisalat).”

A recent publication by Nairametrics.com on November 22nd, 2021 came with a headline- Why Innoson can’t takeover GT Bank written by Analyst Nairametrics. The publication seems to be a rejoinder from a Statement made by Innoson in a chat with a selection of media and financial reporters at his home in Nnewi where he stated that he may takeover GTB and manage it well. This remark was widely published across different news medium.

However, in what seems like a rejoinder published by Nairametrics with a headline- Why Innoson can’t takeover GT Bank. It assumed the followings analysis;

· “Assuming the claims as depicted by Innocent Chukwuma does crystallize, all GTB will need to do is enter a payment plan for the loan which will allow it to repay its profits over a protracted period’.

· “It could also call on its existing shareholders to embark on a rights issue or public offer or even seek external funding to raise money to repay the loan”.

· “Judgment debts are also carried out with the interest of the public at the center of decision-making. GTB is a quoted company with over 327k shareholders of the bank. We don’t see how investments of thousands of people will be eroded on the back of a judgment debt”.

· “The Central Bank will as expected have the ultimate say on who owns the bank. CBN approves ownership of banks especially for takeovers and it is unlikely that the apex bank will allow judgment debts to determine who owns a bank or not. Worst case, the CBN will bail out the bank and retain shareholdings rather than hand it over to Mr. Innoson if it doesn’t want to”.

Why it is not my intention to join words with some analysts on the view that Innoson cannot take over GTB, I want to state categorically clear that Innoson is running out of patience where he is waiting for GTB/GTHCO to come up with a payment plan to offset its judgment debt of over N33B.

Recall that GTB had earlier deposed to an affidavit in the court that its banking operation will be seriously and adversely affected, and also its capital base eroded if it complies with the order of the court. Therefore if GTB feels that its banking operation will be seriously and adversely affected, and also its capital base eroded if it complies with the order of the court, then GTB should as a matter of utmost urgency convert the said sum into shares and allot same to Innoson Nigeria Ltd.

Failure to do so will leave Innoson with no option than to proceed to court to obtain an order of the court to convert its judgment debt into GTB/GTHCO shares and when this happen, Innoson Nig Ltd will control the highest equity shares of the bank leaving him with no option to take over the bank.

I am aware that the current highest equity shareholder of GTB is First Sentier Investors (UK) IM Ltd with an equity share units of 369,651,392 valued at around N10 Billion. If the GTB judgment debt now at over N33B is converted into shares, Innoson Nig Ltd will have an equity value of over 1 Billion Naira making him the largest shareholder of the bank.

Therefore it is in the best interest of GTB/GTHCO to urgently comply with the decision of the Supreme Court dismissing its appeal and affirming the concurrent judgment of Court of Appeal, Ibadan division and Federal High Court Ibadan which ordered GTB by way of Garnishee Order Absolute to pay Innoson Nigeria Ltd its judgment debt or hence Innoson will have no option to commence serious move to take over the bank.

Joy Chinyere Nwaokocha, owner of a bag and footwear brand called Chara Luxury and freelance employee of a Make up and photography firm based in Lekki, is in trouble over an alleged theft of an iphone 13 Pro Max valued at close to a million naira.

Trouble started for Joy last week when she was sent by her boss to Ikeja to buy an IPhone 13 Pro max. Few hours after the sum of 910k was sent to her, she sent her boss a receipt and image of the phone acquired from in Computer Village. Hours later whilst she was enroute to deliver the gadget she suddenly became unreachable.

The man seen in this CCTV video is WANTED by law enforcement for an alleged theft of items worth over 2million including a brand new iPhone 13 Pro Max, an IPhone 11 and other properties

She was later tracked by police and her employer, near the main gate of 1004 estate where she told them she was hypnotised by a man and dispossessed of the iphone 13 pro max. Joy, a 26 year old graduate of FUNAAB, also stated that she handed him her phone and password and also forgot all her possessions in the man’s car amongst other claims.

Police detained her overnight on charges of conspiracy and stealing from an employer.

After police detention and mediation, her family was produced and she refunded the sum of 250k to her employer and promised to pay the balance sum.

However, the man seen in the CCTV video/photos below is WANTED. The man who is suspected to be her lover is still at large, he is captured in this CCTV footage alongside Joy alighting from his Ford tinted mid size SUV. The man appears to be in his early 40s.

Any well-meaning member of the general public who may have information leading to the arrest of this unidentified man is to be rewarded with the sum of N200,000.He was last seen on October 19th 2021 around the environs of Victoria Island between the hours of 5pm and 7pm.