GTB has 3 cases with Innoson. That of N400 billion is still there oo. That of N30 billion is still there; then, this N8.8 billion that he has just won. And the funniest thing is that, out of these three cases, Innoson has won one Supreme court case against GTB and two Appeal court cases.
By the time Innoson finishes dealing with GTB, all their properties in the whole Nigeria will become Innoson's own.
Lesson: when a man wants peace with u, don't give him trouble. Innoson was out for peace but GTB used EFCC to harass him and EFCC official even slapped his wife in his own house. GTB connived with their media brothers and destroyed Innoson's image with all sorts of media trial.
But today who's begging?
The Chairman of Innoson Group, Chief Dr Innocent Chukwuma, OFR has through a Writ of FiFa taken over Guaranty Trust Bank PLC for and on behalf of Innoson Nigeria Ltd as a result of the Bank’s indebtedness to Innoson Nigeria Ltd.
In a landmark decision on February 27th 2019, the Supreme Court of Nigeria dismissed GTB’s appeal - SC. 694/2014- against the judgment of Court of Appeal, Ibadan Division.
The Court of Appeal, Ibadan division had in its decision of 6th February 2014 dismissed GTB’s appeal against the Federal High Court, Ibadan Division. Thus, the Court of Appeal affirmed the judgment of the Federal High Court, Ibadan Division which ordered GTB by way of Garnishee order absolute – to pay N2.4 Billion to Innoson with a 22% interest, per annum, on the judgment sum until the final liquidation of the judgment debt.
Rather than obey the judgment of the Court of Appeal, GTB approached the Supreme Court to challenge the Court of Appeal's decision.
However in an ruling delivered by Honourable Olabode Rhodes-Vivour JSC on Wednesday, February 27th2019, the Lord Justices of the Supreme Court (JSC) dismissed GTB’s appeal and thus affirmed the concurrent judgment of both the Court of Appeal and the Federal High Court, Ibadan Division which ordered GTB by way of Garnishee order absolute – to pay N2.4 Billion to Innoson with a 22% interest, per annum, on the judgment until the final liquidation of the judgment. The Judgment debt of N2.4B has an accrued interest as at today of about N6,717,909,849.96 which results to about N8.8 Billion.
Based on the Supreme Court's decision of 27th February 2019 the counsel to Innoson, Prof McCarthy Mbadugha ESQ, had approached the Federal High Court, Awka Division for leave to enforce the judgment having obtained Certificates of Judgment from the Ibadan Division of the Federal High Court.
Having obtained the requisite leave, the Federal High Court issued the necessary process for levying execution - the Writ of Fifa.
Head of Corporate Communications