Guarantee Trust Bank says it is
taking all necessary legal steps to ensure that no illegal or fraudulent execution
is carried out by Innoson motors, with whom it has a long-drawn-out court case.
On Friday, Innoson Nigeria
Limited had announced that it obtained a writ of Fifa from the Federal High
Court in Awka, Anambra State, against GTB to effect the judgment given by the
Federal High Court in Ibadan and upheld by the Supreme Court of Nigeria.
Cornel Osigwe, the Head of
Corporate Communication of Innoson, made the announcement, saying: “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.”
“We have taken over GTBank in
Awka and Nnewi,” Osigwe subsequently announced, adding that “other branches are
coming soon”.
However, the bank has moved to
assure its customers of the safety of their funds, clarifying that the said
judgement is applicable to the account of the Nigerian Customs Service Board
domiciled with the bank, rather than the bank as an entity.
“The attention of Guaranty Trust
Bank PLC (“the Bank”) 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,” it said in a statement on Friday night.
“The Bank 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.
“It is important to state that
the Judgment allegedly in issue is in respect of a 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.”
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