GTBank vs Innoson Group: The facts, the fiction

GTBank vs Innoson Group: The facts, the fiction

The attention of Guaranty Trust Bank plc has been drawn to the purported enforcement of a Judgment of the Federal High Court, Ibadan at one of its bra

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The attention of Guaranty Trust Bank plc has been drawn to the purported enforcement of a Judgment of the Federal High Court, Ibadan at one of its branches in Anambra State supposedly, in favour to Innoson group.

Yesterday, the Head of Corporate Communication of Innoson Group, Cornel Osigwe, had announced that the Chairman of Innoson Group, Chief Dr. Innocent Chukwuma, OFR, 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. He added, “We have taken over GTBank in Awka and Nnewi,” Osigwe subsequently announced, adding that “other branches are coming soon”.

It is important to note that, that the judgment allegedly in issue, is a judgment against the account of the Nigerian Customs and Excise Board domiciled with GTBank and not against GTBank as an entity. GTBank as a law-abiding corporate citizen is taking all necessary legal steps to address this situation and ensure that no illegal or fraudulent execution is carried out.

To this end, the bank has moved to assure its customers of the safety of their funds. The bank also clarifies that it remains committed to providing best-in- class customer experience to all its valued customers.