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Nairaland Forum / Nairaland / General / Business / N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) (32763 Views)
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Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by ClearFlair: 2:53pm On Mar 30, 2019 |
The whole of Nigeria can now see how stupid Atiku and Obi supporters are. ![]() 1 Like |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by BrownRoofRep: 2:53pm On Mar 30, 2019 |
deomelo:Explore legal option to upturn Supreme Court rulings? Keep on breaking graves looking for skulls to steal, you think you are doing me? 21 Likes 1 Share |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by YoungBlackRico(m): 2:53pm On Mar 30, 2019 |
stephleena:You know, this GTBank-Innoson saga has shown that a whole lot of you folks from that side are big time dummies ![]() 1 Like |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by deomelo: 2:54pm On Mar 30, 2019 |
[s] lastempero:[/s] Not interested in your ipob nonsense. |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by stephleena(f): 2:54pm On Mar 30, 2019 |
BluntBoy:mtcheeeeeeeeew...U would have said worst, if it were to be an Adenuga or Otedola vs Diamond or UBA bank.. we know una.. And yes, CHUKWUMA will collect the money or seals the bank.. kpomkwem! 13 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by slowice(m): 2:55pm On Mar 30, 2019 |
The way westerners re carrying the matter on their head weak me oo... How does the judgement concern them? People should applaud the judiciary for doing the right thing and innosson for his doggedness despite efcc intimidation and shame gtb for being fraudulent but no, they turned the thing to tribal war even when it's clear that the court was referring to a branch of gtb they re still pushing their ignorance forward because of hatred. ![]() 15 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by Bulleye(m): 2:55pm On Mar 30, 2019 |
MyVILLAGEpeople:But IPOB are happy to bring down gtb because it is not Igbo-owned. 2 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by buhariguy(m): 2:55pm On Mar 30, 2019 |
DWJOBScom:is not free money, that is the money 2.4b naira has generate for 5yrs. |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by AngryNijerian: 2:57pm On Mar 30, 2019 |
deomelo:there's a superior court in ogbomosho, they will overturn the supreme court's judgment there. 17 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by goaldynboy: 2:57pm On Mar 30, 2019 |
These 30 key points as at the time GTB was harassing Innosen with EFCC will help you understand the case: Innoson group Vs GTBank : 30 Key Points you need to know about their dispute: 1 - At all Material time , Innoson Nigeria Ltd operates a Current Account with GTBank . 2 - Innoson obtained , and had repaid same , a loan of N1.3billion from GTB Which was secured with a legal mortgage of its properties valued at more than N1.4billion . 3 - Innoson discovered that GTBank imposed excess and unlawful charges in its Current account . 4 - Innoson Group Complained to GTBank on his discovery of access charges on his account 5 - Both parties ( Innoson and GTBank ) agreed to invite an independent auditing firm that will be agreed by both parties . 6 - At the end , MULTI-WINGS Consulting Firm of Auditors was invited to properly audit Innoson Nigeria Ltd Current account No 0043753636 domiciled with Nnewi Branch of GTBank . The audit covers a period from March 2004 to Dec 2011 . 7 - After the account was audited , it was discovered that GTBank has been illegally deducting excess bank charges on its overdraft facility to the 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). 8 - GTBank 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 Innoson on the Conclusion of its investigation . 9 - In the month of September 2012 , GTBank wrote to Innoson that from their personal audit report , the excess bank charges was Five Hundred and Fifty-Nine Million , three Hundred and Seventy-Two naira ,Nine kobo ( N 559.3Million). 10 - Innoson agreed to their version and decided to accept payment from it in the spirit of amicable resolution. 11 - Innoson also requested that the said agreed amount of N559.3million be paid with a 22% interest rate because Innoson had been repaying all his loan with GTBank at 22% interest rate. 12 - GTBank refused and said that the best they can repay excess and illegal deduction is at 7% interest rate . This led to another disagreement between Innoson and GTBank . 13 - As a result , in 2012 , Innoson sued GTBank at Federal High Court Awka with Suit No : FHC/Awk/Cs/2012 . 14 - Federal High Court, Awka delivered Judgement in favour of Innoson in excess of N4.7billion against GTBank. Delivering Judgement in suit no : FHC /Awk/ CS / 139/2012 , the FHC awarded N4.7billion to Innoson Motors against GTBank . The court also ordered GTBank to pay 22 % (percent ) interest on the Judgement debt until all the payment had been made to Innoson . 15 - In 2013 , GTBank appealed against the judgement to the Court of Appeal, Enugu Division, appoxite appeal No: CA/E/288/2013 . 16 - The Court of Appeal , Enugu in a Considered ruling ordered GTBank to pay the Judgement debt of N6billion Inclusive of the accrued interest and any interest that would subsequently accrue thereon into an interest yielding account in the Name of the Chief Registrar of the Court . 17 - In its various affidavits, particularly at the Court of Appeal in suit no : CA/E/288/2013 , GTBank deposed that if it pays the outstanding Judgement debt of N6billion , much less the N8.5billion , it could go bankrupt and be out of business . 18 - GTBank went to the Supreme Court .The case is still in the Supreme Court , while the Judgement debt is about N8billion now to be paid to Innoson by GTBank . Another Cases: IBADAN Cases : Innoson /GTBank/Nigerian Custom Service : 19 - Nigerian Customs Service Auctioned Innoson goods . 20 - Innoson challenged the action Nigerian Custom Service for auctioning its goods at Federal High Court , Ibadan . 21 - On July 29 ,2011, In a Garnishee Order Absolute , the Federal High Court sitting in Ibadan ordered GTBank to Pay Innoson #2,048,737,443,67 (#2billion) from Nigerian Customs account in GTBank . 22 - Rather than Comply with the Garnishee Order Absolute of the Court , GTBank on February 6, 2015 appealed the Judgement , but the Court of Appeal in Appeal no. CA/1/258/2011 affirmed the Judgement of the Federal High Court and ordered GTBank to pay the Judgement debt of #2,048,737,443.67 (#2.048billion) to Innoson . 23 - GTBank , instead , appealed to the Supreme Court against the Court of Appeal's decision where GTBank claimed through a motion in suit no : Sc /694/2014, that the Court of Appeal Judgement in Ibadan (CA/I/258/2011) was procured by suspicious means . 24 - On May 12, 2017 , Supreme Court in its wisdom and rightly , dismissed that unfounded and exasperating claim of GTB against Innoson . 25 - As a result , Innoson commenced a N400 billion suit against GTBank , in the suit No: FCT /HC/CV/2448/2017 at the High Court of the Federal Capital Territory, Abuja . Another issues : 26 - Consequently , in order to save itself from paying the outstanding Judgement debts to Innoson , the GTBbank filed a petition against Innoson alleging forgery which led to the suit No : FHC /L/565C/2015 by Police . 27 - On February 17, 2016 , Police properly and Competently withdraw the charges against Innoson , saying they needed to properly investigate the bank's complaints first and see if they had merits . 28 - On September 1 , 2014 , GTBank secured an ex parte order on Innoson Nigeria Limited, dated September 1, 2014 with suit no FHC/L/CS/1119/2014 , filed before a Federal High Court in Lagos , between GTBank and Innoson Nigeria Limited , issued by *Justice Okon Abang* , ordering that , pending the hearing and the determination of the substantive suit , all Commercial Banks in Nigeria were restrained from accepting in any manner whatsoever to any mandate or instruction presented to them by Innoson Companies or any of its agents or nominees for withdrawal of any sum of money standing to the credit of any account maintained by the company in all the banks. 29 - However , on June 10, 2015 , *Justice Saliu Saidu* of the Federal High Court , Lagos , in a Considered ruling set aside the ex parte order of September 1, 2014 , by Justice Okon Abang and the writ of summon as well . 30 - Innoson then slammed a N30 billion suit on Guaranty Trust Bank for what it had suffered in monetary terms and reputational terms during the months when the accounts of its companies in all Nigerian banks were frozen.With Innoson winning both cases at the High Court and both cases at the Appeal Court, and GTB appealing, both cases are awaiting the verdict of the Supreme Court. Meanwhile the fresh N30 billion naira suit has just gone to the High Court to start its legal journey. .... In all , Innoson has won two High Court cases and two Appeal Court cases all against GTBank . Innoson as at today has Judgement debt over about N10billion based on 22% interest rate against GTBank . Questions for EFCC : (i) Now where is the EFCC coming from in all these ? (ii) Does EFCC actually understand their duties here ? (iii) Is EFCC by their action not sabotaging Nigerian economy ? (iv) If EFCC should to arrest any of the parties , shouldn't GTBank who dubiously deducted Innoson money from his account and have debt of about N8billion to pay Innoson that they should arrest ? 22 Likes 4 Shares |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by nymphomaniac(m): 2:58pm On Mar 30, 2019 |
Ejimagifty:it won't shake them but its a scratch nontheless |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by stephleena(f): 2:59pm On Mar 30, 2019 |
YoungBlackRico:And it has shown how silly and pained, a whole lot of you folks from that side are .I mean full time oponu.. #just saying#.. 5 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by Scholar8200(m): 2:59pm On Mar 30, 2019 |
The major challenge here is not just the need to pay 8bn but perhaps the need to redeem their image with much more, if possible; even the Supreme court certified that Innoson was cheated.Besides, PBT is nothing here , cashflow is what matters. 1 Like |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by buhariguy(m): 2:59pm On Mar 30, 2019 |
stephleena:seal off the back because of 8b naira that is not up to 2% shares. |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by corperdonga: 3:00pm On Mar 30, 2019 |
The talk going on here is really crazy. The bank has been proven guilty and should pay up. Why these tribal insults? Because the bank is own by a Yoruba man and they stole an Igbo man's money, court ordered the bank to pay back then it became an online tribal war ![]() This is actually a victory that should be celebrated by all Nigerians. Banks don steal my money tire. Little little pilfering here and there. Nigerians should grow pass this tribal sentiments. It is no longer healthy. 23 Likes 2 Shares |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by Scholar8200(m): 3:01pm On Mar 30, 2019 |
corperdonga:The bank is a Plc 1 Like |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by LazyGold(m): 3:02pm On Mar 30, 2019 |
A successful Bank own By Yoruba is the Dream of Igbo in their Village we all Understand |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by BluntBoy(m): 3:02pm On Mar 30, 2019 |
stephleena: You people should stop projecting your tribalism on us. What concerns me if Otedola has a problem with Diamond Bank? Does he feed me? So because he is a Yoruba man, I should just take sides and demonize the financial institution concerned? 1 Like |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by deomelo: 3:03pm On Mar 30, 2019 |
BrownRoofRep: SC judgement doesn't eliminate their capacity and options to litigate fresh and unrelated argument from scratch even after paying. What's wrong with you kabukabu ipob village square lawyers sef. 1 Like |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by deomelo: 3:05pm On Mar 30, 2019 |
AngryNijerian: Another ignorant and unintelligent ipob. Your username says a lot about you.. |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by YoungBlackRico(m): 3:08pm On Mar 30, 2019 |
stephleena: ![]() |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by Catastrophe1: 3:09pm On Mar 30, 2019 |
If GTB don't pay the money before next month ending, I will tell uncle innosson what next to do. Mad Men ![]() 9 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by Yorubaskullmine: 3:09pm On Mar 30, 2019 |
BrownRoofRep: ![]() ![]() ![]() 6 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by sweetTai(m): 3:09pm On Mar 30, 2019 |
myboy2111: I remember when Intercontinental bank and Oceanic bank use to brag like this until they were exposed for the fraud that they were. The guy that wrote this piece is naive to high heavens. 8 Billion Naira is too big for most banks, GTB included. 8 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by millhouse: 3:11pm On Mar 30, 2019 |
stephleena:I tire for the OP , make the bank pay up then if its chicken change ...annoying institution with no repute , all because their cofounder hubnobs with politicians they think they can ride on anybody . Just picture what could have happened to Mr. Innoson if the judgment was ruled in the Bank’s favour . I swear to you by last night stern policemen would have sealed off all innosons businesses boothing out employees like chicken into the street to the cheer of the bank and it’s management . Animals . 16 Likes 1 Share |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by stainlessnature: 3:14pm On Mar 30, 2019 |
sweerychick:Gtbank is not a Father Xmas . The bank is not embarrassed in any way. So because you have 1million naira in your account and someone is falsely accusing you of owing N100,000, will you gladly pay just because you have 1million naira? 1 Like |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by thobie11: 3:17pm On Mar 30, 2019 |
zomoears: Very funny, Banking business is different from other sector as a shareholder u can lose ur fund overnight if ur bank is declared bankrupt without any kobo given to u. Not even bankrupt if ur bank fails certain condition like CAR level n others, Skye bank was operating fine only that CAR is falling now n then and business is not doing fine, mind u they are not declared bankrupt but CBN took control overnight. U are talking abt customer deposit, though in normal business the deposit is more like revenue (asset) in banking it is debt, check financial statement of banks Deposit are liabilities u can't touch or use it anyhow. Take for instance out of the 500billion u called deposit deduct 8bn n tomorrow morning all ur customer ask for their money how did u get the difference. Banking business is complex Gtbank can't just pay because they are financial buoyant. There is consequence for that. 6 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by Yorubaskullmine: 3:17pm On Mar 30, 2019 |
goaldynboy:Open a thread in respect of this incredible piece. 9 Likes 2 Shares |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by BrownRoofRep: 3:18pm On Mar 30, 2019 |
deomelo:Afonja head slamming empty brain lawyer the ruling on the case is final with clear court instructions. It's either Gtbabk pay the stipulated amount or They kneel down in prayers to oga Innoson for consideration or Innoson will lay claim of their properties till his money is fully recovered. As far as this case is concerned there's no further argument or legal preceding, unless, maybe in world court which such cases are not even entertained. So, shut the hell up with the your beautiful nonsense. There is no further legal preceding on this, it's either Gtbank pay their debt or Innoson will start ceasing things, a whole lot of things. 13 Likes |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by thobie11: 3:18pm On Mar 30, 2019 |
zomoears: Very funny, Banking business is different from other sector as a shareholder u can lose ur fund overnight if ur bank is declared bankrupt without any kobo given to u. Not even bankrupt if ur bank fails certain condition like CAR level n others, Skye bank was operating fine only that CAR is falling now n then and business is not doing fine, mind u they are not declared bankrupt but CBN take control overnight during d weekend. U are talking abt customer deposit, though in normal business deposit is more like revenue (asset) in banking it is debt, check financial statement of banks Deposit are liabilities u can't touch or use it anyhow. Take for instance out of the 500billion u called deposit deduct 8bn n mind u already loan out n tomorrow morning all ur ask for their money how did u get the difference. Banking business is complex gtbank can't just pay because they are financial buoyant. There is consequence for that. Gtbank will find a middle ground to settle differences. |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by NEIGHBOUR(m): 3:19pm On Mar 30, 2019 |
Chipink: Can we know how many of your brothers that are graduates then come over and count the number of your street traders in Lagos. We can then know who are illiterates. Ipodpigs, anybody they support is bound to fail. |
Re: N8Bn Is Chicken Change To GTBank, Assets In Trillions - Yinka Ogunnubi (Photos) by Yorubaskullmine: 3:19pm On Mar 30, 2019 |
millhouse: |
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