GTBank finally reacts to Innoson’s takeover


 GTBank finally reacts to Innoson’s takeover




Guaranty Trust Bank says it is finding a way to guarantee that no illicit or fake execution is completed by Innoson engines, with whom it has an arduous court case.

On Friday, Innoson Nigeria Limited had reported that it acquired a writ of Fifa from the Federal High Court in Awka, Anambra State, against GTB to impact the judgment given by the Federal High Court in Ibadan and maintained by the Supreme Court of Nigeria.


Cornel Osigwe, the Head of Corporate Communication of Innoson, made the declaration, saying: "The Chairman of Innoson Group, Chief Dr. Honest Chukwuma, OFR has through a Writ of FiFa assumed control over Guaranty Trust Bank PLC for and in the interest of Innoson Nigeria Ltd because of the bank's obligation to Innoson Nigeria Ltd. In a milestone choice on February 27th 2019, the Supreme Court of Nigeria expelled GTB's intrigue — SC. 694/2014 — against the judgment of Court of Appeal, Ibadan Division."

"We have taken over GTBank in Awka and Nnewi," Osigwe accordingly declared, including that "different branches are not far off".

Nonetheless, the bank has moved to guarantee its clients of the wellbeing of their assets, clearing up that the said judgment is pertinent to the record of the Nigerian Customs Service Board domiciled with the bank, instead of the bank as a substance.



"The consideration of Guaranty Trust Bank PLC ("the Bank") has been attracted to proclamations circling in the news and web-based life in regard of an indicated authorization of a judgment of the Federal High court, Ibadan, Oyo state, at one of its branches in Anambra state," it said in an announcement on Friday night.


"The Bank as an honest corporate native is finding a way to address this circumstance and guarantee that no illicit or false execution is completed.

"State that the Judgment supposedly in issue is in regard of a Garnishee Proceedings against the record of the Nigerian Customs Service Board domiciled with the Bank and not against the Bank as an element.

"The Bank stays focused on giving top tier client experience to all its esteemed clients."


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