No Court Ordered Takeover of Our Bank—GTBank

By Dipo Olowookere

The management of Guaranty Trust Bank (GTBank) Plc has refuted reports claiming one of its customers, Mr Innocent Chukwuma of Innoson Motors, has obtained a Supreme Court judgement to take over the financial institution over issues bordering on indebtedness.

The auto company had released a statement on Friday, claiming that on February 27, 2019, the Supreme Court of Nigeria dismissed GTBank’s appeal in a suit number SC. 694/2014 against the judgment of Court of Appeal, Ibadan Division.

Mr Chukwuma had claimed in a statement by his company that, “The Judgment debt of N2.4 billion has an accrued interest as at today of about N6.7 billion 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.”

“We have taken over GTBank in Awka and Nnewi,” he added, stressing further that “other branches are coming soon.”

But reacting to this, GTBank said the said ruling was not issued against the bank but against an account of one of its customers.

“The attention of GTBank has been drawn to statements circulating in the news and social media in respect of a purported enforcement of a judgement of the Federal High Court, Ibadan, Oyo State, at one of its branches in Anambra State.

“The bank is 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.

“It is important to state that the judgement allegedly issued is in respect of Garnishee Proceedings against the account of the Nigerian Customs Service Board domiciled with the bank and not against the bank as an entity.

“The bank remains committed to providing best-in-class customer experience to all its valued customers,” the statement said.