GTB Vs Innoson: Bank denies false court judgment


Guaranty Trust Bank Plc has repudiated reports that the Supreme Court has ordered it to pay the Chairman of Innoson Group, Innocent Chukwuma, the sum of N12 billion within 14 days.

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GTB and Innoson have been embroiled in a legal battle as the bank accused Innoson’s CEO, Innocent Chukwuma of fraud and forgery.

But a new twist was added to the case during the week with report rife that the Supreme Court had given judgment in favour of Innoson, and ordered the bank to pay the company N12bn.

However, in a countered statement from GTB, the bank faulted the report describing it as “false”.

The full statement: “The attention of Guaranty Trust Bank Plc (“the Bank”) has been drawn to false, mischievous and malicious statements circulating in the news and social media in respect of a purported directive by the Supreme Court of Nigeria to the Bank to make payments to one of its debtor Customers.

“The Bank’s Customers and the General Public are hereby kindly urged to disregard these false statements as nothing could be further from the truth. There was no directive or Order issued by the Supreme Court of Nigeria to the Bank to make any payment to any of its debtor Customers.

“The Bank as a highly responsible corporate citizen will in accordance with its culture and tradition refrain from making comments about on-going litigation matters and will continue to focus on using legal means to recover its bad debts. It must be emphasised that the Bank remains undeterred in its recovery drive against recalcitrant debtors.

“We again reiterate that there is no iota of truth in the falsehood being peddled by desperate and mischievous elements and the General Public should disregard same in its entirety. The Bank remains committed to providing best-in-class customer experience to all its valued Customers.”



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