JasonScoolari:
His smile is so contagious... A handsome young man, A pacesetter, A caring father and husband, A two time Governor, a distinguished Senator, A doctor and above all, the undisputed master of the game.

Maximum respect to Dr. Abubakar Bukky Saraki.

millhouse:
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 .

goaldynboy:
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 ?

BrownRoofRep:

Explore legal option to upturn Supreme Court rulings?

Keep on breaking graves looking for skulls to steal, you think you are doing me?

mekaboy:
Most times especially during political seasons, we always read about people threatening to chase igbos out of Lagos. They will tell you the SE is landlocked and igbos can't do without Lagos. They say igbos did not develop Lagos but Lagos helped igbos.

In one thread I asked non igbos who are disturbed by the progress of igbos in Lagos to go to the SE and retaliate . Buy land, develop and invest heavily in the SE as a form of revenge. They said there was nothing in the SE to invest in and no sensible person would go down east to invest.

At some point I was beginning to believe the Landlocked theory and that everyone had to be in Lagos to make it .

But the story of innoson and GTBank made me have a rethink. Innoson has always been in the east doing his business.

If you list 5 yoruba billionaires, all five have a hand in oil. Innoson as an individual has no oil block, made his money in the Landlocked east and is about to sink a bank by the sea.

Isn't it a mystery?

KingOfAllIgbos:


I am sure you are regretting telling the truth.

Unlimitk:
A bank worth billions of naira if not trillions is scared cos of 8billion naira?

This is y as a Yoruba I prefer yoto do business with Hausa,because an Hausa won't try to use sense for me

Well I blame gtb for allowing their name to b dragged through d mud by Igbos illiterate.

The only branches that innoson can even take over is the one in anambra

Seeing all those illiterates exposing their ignorance is something else

orion7:
this man and hin wife tight shaaaaa.

perfect couple. good or bad. they stick.

Willie obiano get wife wey dey beat am

and I think buhari in his prime would have been beating Aisha. nothing wey that man nor fit do

KingOfAllIgbos:

[b]
Looking at your moniker, i can understand how your JUNIOR is now your SENIOR.

Now take this money and buy sense, even if it is fairly used one.

My condolences....[

slimfit1:
Fashola failed to prove to us he has the capacity to make changes. By now our rivers are supposed to be working for us, a dam is wasting away close to is backyard I was expecting him to take control and things working upright. We should have more than 3000 jobs created through solar energy by now. This man has done nothing.

icebird25:



While you are still here on nairaland debating about buhari and atiku. ..i pity you

sexyking1:
One thing I learn from this man is, never u be a push over. This man's courage makes likes of orji uzo Kalu, akpabio etc look like puppet. History will be very kind to this man and d likes of dino melaye for their bravery against tyranny.
This is what sir Walter is doing to FG

oilPUSSY:
You knew the perception your people have for APC yet you deviated.. You have allowed vultures to lead you to your political golgotha .
The same set of vultures that were clapping and rejoicing that you would deliver the entire SS are no where to be found simply because you lost the election and above all you have lost your people as well..
See the name the name they have given you in your state "Herdsman terrorist" "Christian killer" Keep moving around with that tag till you come back to your senses.
I doubt if Buhari has a package for you because you don't belong to people he loves.

See how APC is treating Orji Uzo Kalu who worked morning and night for Buhari's victory, Is it you that didn't win any election that Buhari and APC will give attention ?
If you are wailing with the intention of replacing Udoma Udo as a minister from Akwaibom state, then the movie is going to be very interesting.

Excaperx:
Agbonyima representing ikpoba okha/Egor in Edo state decamped to APC and lost

gidgiddy:


Go and read up on Nigerian history. The declaration had nothing to do with the coup, it had everything to do with Gowons refusal to honour the Aburi agreement he signed in Ghana





If those came after Ironsi did worse than he did then Ironsi should be praised for being the best of a bad bunch






Compare Ironsi to Gowon:

Ironsi kept the 4 Regions he inherited, Gowon came in and abolished the 4 Regions and created 12 states. Other Military leaders continued Gowons "state creation" and we have 36 states today.

Ironsi maintained resource control/and fiscal responsibility for the 4 Regions. Each Region kept 50% of what they produced, Gowon came in and scrapped resource control and changed the revenue sharing formular. Today, states are begging for 13% when it was 50% under Ironsi


What is funny about the whole thing is that the Northerners said one of the biggest reasons for removing Ironsi was the unification decree, they came in and enacted decrees that were far worse than Ironsi's unification decree. The Northerners and their Yoruba cohorts have done far worse than Igbos or Ironsi ever did and have lost the moral right to criticise Igbos

onlinetomola:
But Wait ! what's the Cow smelling in the first picture ?

markfemisgay:
Lzaa onyeoga immhotep pointzerom zombiehunter yorubaskullmine.

Mace0lane:
I swear this Igbos are as funny as pathetic.
Imagine celebrating this nightmare of a disaster and castigating the land bridge Ganduje built.

Many PDP Igbo idiots on NL needs urge plank to their medulla I swear. This nonsense is also tagged road construction? No wonder they flock to Lagos to continue insulting Yoruba.

Mace0lane:
I swear this Igbos are as funny as pathetic.
Imagine celebrating this nightmare of a disaster and castigating the land bridge Ganduje built.

Many PDP Igbo idiots on NL needs urge plank to their medulla I swear. This nonsense is also tagged road construction? No wonder they flock to Lagos to continue insulting Yoruba.

Nicerazor:

Arthur Eze is a Nigerian business man and philanthropist reputed to be one of the wealthiest men in Africa.[1] He is the founder and Chairman of Atlas Oranto Petroleum, which has assets in Nigeria, Liberia, Guinea,Gambia and the UK.[2] In 2010 Eze made $200M selling oil blocks in Liberia.[2] He founded the company in 1991.[1]

In 1970, Eze attended secondary school in Nkwere, Nigeria. He studied chemical and mechanical engineering at California State University, Long Beach from 1974 to 1978.

In November 2015, Prince Arthur Eze, bought himself a brand new Falcon airplane and it was delivered to him at Akanu Ibiam International Airport, Enugu State

[1] And also a politician

omotoniwa:
The stadium was built by him and who can deny him of using it.

globemoney:

what has your weeping governor done in enugu?

oneeast:
Nike lake Enugu is dead, it should be converted to a poultry farm

oneeast:
This is the condition of schools at Nsukka in the 21st century. It is a shame. Why cant you people do the right thing for once. This type of school were not even found in anywhere in Anambra state even 100yrs ago. shame shame


[s][/s]

zlantanfan:
Didn't even go further when I saw NWABIKWU.

Bitterness and hate wouldn't allow them see anything, they were cool with AIT in 2015 when it took assaulting buhari to an everyday low.

Channels remains the best TV station in the country, they have been fair 100% of the time.

Even in the Greatest country in the world CNN, Foxnews, etc gives 100% partisanship to its sponsors.


They now claim defender of journalism but won't caution the partisan nature of femi abarisala who is a PDP card carrying member endorsed by vanguard

Sirjamo:
Someone can be living in America, yet, register, write and pass waec in Nigeria, he doesn't even have to know the name of the impostor who write wrote it for him