Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) - Business (8)

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Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) - Business (8) - Nairaland

Nairaland Forum / Nairaland / General / Business / Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) (43963 Views)

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Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by InyinyaAgbaOku(m): 8:10am On Mar 31, 2019

chloride6:

There are 2 separate cases...

1. Customs Vs Innoson

2. GTB vs Innoson

Innoson took Customs to court over some uncleared good and won N2bn.

GTB was instructed to pay him from Customs Account with GTB then..

GTB already had a case with Innoson.

Immoson had forged clearing documents for goods that imported for him by GTB on the condition that he will pay 25% of the value of the container before they release the goods.

Innoson didn't have 25% so he forged the documents and went to clear the goods from the port..

GTB found out and has him arrested.

He later confessed and signed a payment plan with GTB as he didnt have the money.

GTB didnt even want to prosecute him. They just wanted their money.

Innoson now want to collect the money from the customs case while still owning GTB from his forging activities.

Can you imagine?

Innoson has been running from pillar to post trying to delay the court process in his own forgery case..

But after all the delay tactics, the case finally resumed this year...

Is that why the Supreme Court asked GTB to pay him 8.8b ?

We will sell and even sell your branches.

Lying, extortionist bank.
If these were true, why didn't the Supreme Court hold onto that?

Thieves.

2 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Meliaen(f): 8:10am On Mar 31, 2019

Soso990240:
Your point is not related to d topic in any way.. That's wat dumb people do, resort to insult instead of raising a valid point.

You have still not answered my question. Is there coconut in your head?

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by IamJames: 8:12am On Mar 31, 2019

Unik3030:
do u realize they can still appeal the judgement? when it comes to court case u will use all known delay tactics b4 u finally give in. it's not that easy the way some people are presenting it

Hahaha... Appeal to which court after the Supreme Court has judged the case, lol. Perhaps they'll appeal to EFCC.

2 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Elvis778(m): 8:12am On Mar 31, 2019

chloride6:

Innoson that agreed he forged documents when interrogated by EFCC and even signed a partial payment plan for the money but refused to pay?

Why do you think GTB refused to give him the money.

let's assume what you just said is true, and ofcourse that's even a different case all together, is the amount up to 8.8bn?? Even if it is, why are they still wasting time to present it before the jury, atleast too wright off some of or all of their debt?? Na till in reach 15bn they go do am??

5 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by I888(m): 8:15am On Mar 31, 2019

chloride6:

Aside from buildings and cars;

The rest of a banks assets are in cash, stocks, bonds and t bills which are stored electronically.

you are obviously a tribal bigot, cos I see no reason why you should be reacting like this. GTB is not yours or your father's even if a Yoruba man built it. This is same thing I told the igbos who tried to wrap tribalism around this that Innoson's company is not theirs or the entire igbos'.

You hegoats should go and work for your name and stop attaching to something you will never benefit from till you die.

10 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Meliaen(f): 8:17am On Mar 31, 2019

Earthquake2:

Will your wailing open their bank?

You think GTB values their branch in Ibadan more than their branch in Onitsha

Oga, will your petty account with gtb change from savings to fixed just because you're in the headquarters of potopoto Republic and wailing about it?

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by chloride6: 8:20am On Mar 31, 2019

InyinyaAgbaOku:

Is that why the Supreme Court asked GTB to pay him 8.8b ?

We will sell and even sell your branches.

Lying, extortionist bank.
If these were true, why didn't the Supreme Court hold onto that?

Thieves.

Dont be in a hurry..

Innoson has been running from pillar to post trying to stop the case from proceeding..

But the case finally took off this year January.

That's why Innoson wants to force GTB hand to pay other earlier and be speaking French when Judgement is given against him in the other case.

Big fat lie..

grin

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Meliaen(f): 8:24am On Mar 31, 2019

SpaceTour:
What's this one yapping? You can only lie to someone who have not been to yoruba townships. Only Lagos- the former FCT is worth mentioning in the SW, others are just hamlets filled with mud houses and rustic brown roofs.

Your description is touché! I bet you learnt a lot from growing up in mud houses.

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by SpaceTour: 8:26am On Mar 31, 2019

You may even be typing from mud house somewhere in Ibadan cool

Meliaen:

Your description is touché! I bet you learnt a lot from growing up in mud houses.

6 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by cescky(m): 8:27am On Mar 31, 2019

Unik3030:
do u realize they can still appeal the judgement? when it comes to court case u will use all known delay tactics b4 u finally give in. it's not that easy the way some people are presenting it

Yes you are right

But that would be very foolish

I doubt the debt was 8 billion...but with time the interest rate took it to that figure

So imagine who looses if they keep going back and forth

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by donvat1(m): 8:28am On Mar 31, 2019

acevic:

Appeal supreme court judgement? Lawd!!!

bro you don't answer everyone cos some people are born to be tribals in nature.

4 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by InyinyaAgbaOku(m): 8:32am On Mar 31, 2019

chloride6:

Dont be in a hurry..

Innoson has been running from pillar to post trying to stop the case from proceeding..

But the case finally took off this year January.

That's why Innoson wants to force GTB hand to pay other earlier and be speaking French when Judgement is given against him in the other case.

Big fat lie..

Extortionists bring it on.

The last time we checked GTB was the one running from pillar to post.

We have already sealed some branches, more are coming.

Awon ole

9 Likes 1 Share

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Emmerlee(m): 8:34am On Mar 31, 2019

Someone subhuman has just joined this argument and she's tribalism and stupidity personified. Her moniker starts with an "M" grin

Guys take note, the hatred in her is unbelievably monumental. Nairaland unfortunately host a couple of very sick people grin

7 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Elvis778(m): 8:35am On Mar 31, 2019

Meliaen:

Dunce. Whatever happens in Onitsha remains in Onitsha.

He's not a dunce, cuz what happened in Onitsha is also a huge blow on the face for the bank, imagine how many customers they lost already? And this might start happening in other branches too, until they pay up

8 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Elvis778(m): 8:39am On Mar 31, 2019

Meliaen:

Yes, Onitsha is a commercial city in the yeast. When you want to compare that to other cities in the West, it fades into total insignificance.

you wan compare when we they talk better something? Now tell me, who is ruling your commercial city? Na Igbos oo, gather brain abeg, you should be ashamed to say such in public.........

1 Like

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by jaxxy(m): 8:50am On Mar 31, 2019

stephleena:

I feel ur pain chei!..
This is not matter of being smart,Gtbank tried to play a fast one on him..
Supreme court gave the judgement,Gtbank should maybe approach Sharia court.

Is either they pay or he seals Gtbank. simple
Gtbank delays, Innoson's interests increases.

Dude if I was him I will not seal up anything I will sell their fxcking branches till I get my money then sue their asses 10times over. Innoson is a total gentleman if u ask me.

Gtb shud try this $hit in the us and see what happens to them. I like Gtb bt I believe in respecting people’s business cos it’s their sweat. This is not looting politicians stuff or yahoo.

chloride6:
This guy thinks he is smart..

You think you can forge Bill for Collection document and get away with it..

You don't know Agbaje..

Innoson still has N7 Billion pending case with GTB..

If GTB dont pay that money next week they will never pay...

Innoson is broke and needs cash..

In the end, Innoson will be liquidated. It's just a matter of time.

GTB will wait it out until Innoson is liquidated...

And then pay cents on the dollar to his liquidators...

Modified

All of quoting me better face the fact..

Innoson is already a bad credit in all commercial banks..

Ask your friends in corporate finance if you have any..

Innoson is cash strapped right now and is hanging on for dear life..

No body wants to give him money right now..

If the debt is increasing with each passing day, why is Innoson resulting to Media Blackmail to get his money?

Sealing GTB premises all over the country wont give him his money..

What is he going to do with it?

Sell it?

Who will buy a bank building asides from another bank?

Banks are constructed to be functional for banking purposes only..

2 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by omega2128(m): 8:54am On Mar 31, 2019

malele:

We have daft people which other court my friend

GTB loaned Innoson money on the ground that goods will be imported in gtb name. innoson forged gtb endorsement for clearing of the goods at port. innoson cleared the goods without gtb consent, gtb sued innoson for breach of contract to the tune of 7 billion or thereabouts. that's why innoson house was invaded by EFCC.
innoson wants to pull fast one on gtb, get money and drag on his case of breach of contract with gtb.

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Evercurious(f): 9:20am On Mar 31, 2019

chloride6:

Pay Fire..

So that Innoson can wire some of the funds abroad abi?

Innoson will forgo all that N8.8bn when he is faced with life imprisonment...

Lolzzzz..... You are very funny

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by PURITYAUTOZ: 9:24am On Mar 31, 2019

INNOSON vs GTB. 30 things you should know.

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 N8billion based on 22% interest rate against GTBank .

10 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by ScotMisile: 9:30am On Mar 31, 2019

Imo combining with Anambra to debate for INNOSON...but when an Imo but,when its an IMO biz man na,you will see Anambra joining afonja to betray us..... Anambra,but whyyyy

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by sexyking1: 9:31am On Mar 31, 2019

chloride6:
This guy thinks he is smart..

You think you can forge Bill for Collection document and get away with it..

You don't know Agbaje..

Innoson still has N7 Billion pending case with GTB..

If GTB dont pay that money next week they will never pay...

Innoson is broke and needs cash..

In the end, Innoson will be liquidated. It's just a matter of time.

GTB will wait it out until Innoson is liquidated...

And then pay cents on the dollar to his liquidators...

Modified

All of quoting me better face the fact..

Innoson is already a bad credit in all commercial banks..

Ask your friends in corporate finance if you have any..

Innoson is cash strapped right now and is hanging on for dear life..

No body wants to give him money right now..

If the debt is increasing with each passing day, why is Innoson resulting to Media Blackmail to get his money?

Sealing GTB premises all over the country wont give him his money..

What is he going to do with it?

Sell it?

Who will buy a bank building asides from another bank?

Banks are constructed to be functional for banking purposes only..

Bros do u actually read while typing? Cos what u just typed shows dat u are either sleeping or taking something

6 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by sonature1: 9:39am On Mar 31, 2019

chloride6:
This guy thinks he is smart..

You think you can forge Bill for Collection document and get away with it..

You don't know Agbaje..

Innoson still has N7 Billion pending case with GTB..

If GTB dont pay that money next week they will never pay...

Innoson is broke and needs cash..

In the end, Innoson will be liquidated. It's just a matter of time.

GTB will wait it out until Innoson is liquidated...

And then pay cents on the dollar to his liquidators...

Modified

All of quoting me better face the fact..

Innoson is already a bad credit in all commercial banks..

Ask your friends in corporate finance if you have any..

Innoson is cash strapped right now and is hanging on for dear life..

No body wants to give him money right now..

If the debt is increasing with each passing day, why is Innoson resulting to Media Blackmail to get his money?

Sealing GTB premises all over the country wont give him his money..

What is he going to do with it?

Sell it?

Who will buy a bank building asides from another bank?

Banks are constructed to be functional for banking purposes only..

Keep quiet!
Are you the CEO of GTbank?
Why are they not coming out to clear the air?
Why are they just releasing statements?
The PR of the Bank should come on air and deny Mr. Innocent's claims

6 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by ehissi(m): 9:59am On Mar 31, 2019

PURITYAUTOZ:
INNOSON vs GTB. 30 things you should know.

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 N8billion based on 22% interest rate against GTBank .

Chloride6, please affirm or dispute.....

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by Davidson134(m): 10:01am On Mar 31, 2019

The truth is if GTB doesn't do something fast whether up turning the judgment either' legally or juju wise' this news filters into the public. If it does Sorry for them becuase every Tom and Harry will go withdraw their money even the people defending them now. Nigerians don't like panic news expecially one that has to do with their money .
Forget the poo called NDIC, they don't protect nothing. They are only there for the rich not we the poor that has smaller amounts. I seriously don't want anything bad to happen to GTB becuase they employ all tribe, but they should try to settle this mess or else in the coming days customers will run to transfer their money out of the bank, if they have not already started doing that.

This my little submission.

2 Likes

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by chloride6: 10:09am On Mar 31, 2019

ehissi:

Chloride6, please affirm or dispute.....

There were charges to the tune of N500m which GTB had decided to waiver.

The charges were not frivolous. They were loan default charges incurred on the facility when innson defaulted.

GTB decide to waiver the charges in the interest of peace.

When Innoson secured a judgement against the Nigerian Customs for N2bn , what was the honourable thing to do?

Pay the debt your owed GTB.

The write up you quoted doesmt mention that Innoson acquired that debt illegally by forging clearing papers, to which he later confessed and promised to be paying incrementally.

Till date Innoson has refused that debt.

You get?

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by amywonda: 10:11am On Mar 31, 2019

Out of curiosity , he allegedly forged documents and the Supreme Court still granted him victory, who does GTB run to for redress? Is there a precedent to appealing Supreme Court judgement? If inooson the company is liquidated is it out of place for the shareholders to go to court again and demand damages for their loss from GTB? Would u rather that Innoson sit and wait for hell to come rather than go after GTB with the fifa he now has? , I really want to know your thoughts on this, educate me some more

saintandsinnerz:

Poor jobless church rat with hate syndrome that is bigger than mount Zion. If you don't take care your igbophobia will be your greatest undoing in life. Keep hating them and think you will progress.

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by chloride6: 10:15am On Mar 31, 2019

amywonda:
Out of curiosity , he allegedly forged documents and the Supreme Court still granted him victory, who does GTB run to for redress? Is there a precedent to appealing Supreme Court judgement? If inooson the company is liquidated is it out of place for the shareholders to go to court again and demand damages for their loss from GTB? Would u rather that Innoson sit and wait for hell to come rather than go after GTB with the fifa he now has? , I really want to know your thoughts on this, educate me some more

There are two independent cases in this issue..

Innoson is playing on the fact that GTB doent media attention..

Innoson won Customs over an issue..

GTB refused to pay the money because of Innoson was owing them and has refused to pay..

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by vertueptime: 10:40am On Mar 31, 2019

chloride6:
This guy thinks he is smart..

You think you can forge Bill for Collection document and get away with it..

You don't know Agbaje..

Innoson still has N7 Billion pending case with GTB..

If GTB dont pay that money next week they will never pay...

Innoson is broke and needs cash..

In the end, Innoson will be liquidated. It's just a matter of time.

GTB will wait it out until Innoson is liquidated...

And then pay cents on the dollar to his liquidators...

Modified

All of quoting me better face the fact..

Innoson is already a bad credit in all commercial banks..

Ask your friends in corporate finance if you have any..

Innoson is cash strapped right now and is hanging on for dear life..

No body wants to give him money right now..

If the debt is increasing with each passing day, why is Innoson resulting to Media Blackmail to get his money?

Sealing GTB premises all over the country wont give him his money..

What is he going to do with it?

Sell it?

Who will buy a bank building asides from another bank?

Banks are constructed to be functional for banking purposes only..

He can sell the branches to recoup

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by goaldynboy: 10:42am On Mar 31, 2019

chloride6:

There were charges to the tune of N500m which GTB had decided to waiver.

The charges were not frivolous. They were loan default charges incurred on the facility when innson defaulted.

GTB decide to waiver the charges in the interest of peace.

When Innoson secured a judgement against the Nigerian Customs for N2bn , what was the honourable thing to do?

Pay the debt your owed GTB.

The write up you quoted doesmt mention that Innoson acquired that debt illegally by forging clearing papers, to which he later confessed and promised to be paying incrementally.

Till date Innoson has refused that debt.

You get?

Are you sure you are not a mental patient?!

See how you have been defecating all over this thread with senseless comments!

If you claim that Innoson forged your purported documents, show us proof! Show us his written admission or video evidence; otherwise sod off from here! You think once you accuse somebody of something, it becomes the truth?!

If you claim that as a result of the purported forged document, GTB suffered or did not get 25% down payment, why is there no civil action in respect of that by GTB against Innoson as at today!!

Abeg shift! You think most people in nairaland are dunce?

If they check well, you must be one of those living under the bridge of Lagos and eating from gutters; but you pre-occupy yourself with carrying another man's matter on your head like gala!!

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Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by ehissi(m): 10:45am On Mar 31, 2019

amywonda:
Out of curiosity , he allegedly forged documents and the Supreme Court still granted him victory, who does GTB run to for redress? Is there a precedent to appealing Supreme Court judgement? If inooson the company is liquidated is it out of place for the shareholders to go to court again and demand damages for their loss from GTB? Would u rather that Innoson sit and wait for hell to come rather than go after GTB with the fifa he now has? , I really want to know your thoughts on this, educate me some more

I am still in total confusion, because forgery is a criminal case. That is something that should be prosecuted by the state and not GTB treating it like a civil case, so what is the real issue with customs?

And why didn't customs go to court to defend themselves? Why is GTB carrying customs matter like gala on their heads?

This case just make ziggy ziggy like zigzag

1 Like 1 Share

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by chloride6: 11:00am On Mar 31, 2019

goaldynboy:

Are you sure you are not a mental patient?!

See how you have been defecating all over this thread with senseless comments!

If you claim that Innoson forged your purported documents, show us proof! Show us his written admission or video evidence; otherwise sod off from here! You think once you accuse somebody of something, it becomes the truth?!

If you claim that as a result of the purported forged document, GTB suffered or did not get 25% down payment, why is there no civil action in respect of that by GTB against Innoson as at today!!

Abeg shift! You think most people in nairaland are dunce?

If they check well, you must be one of those living under the bridge of Lagos and eating from gutters; but you pre-occupy yourself with carrying another man's matter on your head like gala!!

If not that you have the retention capacity of a 2 year old.

You would remember that Innoson was picked up by the EFCC last year..

The whole SE shouted foul when he was arrested.

Nope you cant remember, your retention capacity has been shot by genetic fraud.

Re: Innoson Speaks On How GTB Is Owing Him 8 Billion And Refused To Pay (video) by I888(m): 11:11am On Mar 31, 2019

Meliaen:

You have still not answered my question. Is there coconut in your head?

You were raised by a typical Nigerian mother, I swear.: is there coconut in your head? grin

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