Innoson Insists Supreme Court Oredered GTB to Pay N6B Within 14 Days

Management of Nigeria’s automobile manufacturer, Innoson Motors has insisted that the Supreme Court actually ordered Guarantee Trust Bank (GTB) to pay the sum of N6B within 14 days of judgment, “as a result of excess and unlawful charges which GTBank took from Innoson’s account domiciled with it.”

According to a statement signed by the firm’s Head of Corporate Communications, Cornel Osigwe, the Supreme Court on 7th June 2018, struck out the application filed by GTBank on the stay of execution of the order of Court of Appeal.

“On 9th of December 2014, the Court of Appeal Enugu Division, delivered a ruling and ordered Guaranty Trust Bank Plc (GTB), to, within 14 days, pay a Judgment debt of about N6Billion to the Deputy Chief Register of the Court who shall pay same into an interest yielding account pending the determination of GTB’s appeal.

“However GTBank not satisfied with the ruling of the Court of Appeal, headed to the Supreme Court and filed a motion for stay of the execution of the order.” The statement reads.

According to Osigwe, the N6Billion judgment debt as at 7th June 2018 is over N14Billion. He added that the Court of Appeal ordered that GTB should pay the judgment debt to the Deputy Chief Register of the Court within 14 days from the date of ruling and which sum of money the Deputy Chief Register shall pay into an interest yielding account in a reputable bank takes effect immediately.

“We are therefore right to state: GTB shall Pay Innoson’s N14Billion Judgment Debt into an Interest Yielding Account within 14 days.

“Furthermore we are aware of the fact that GTBank in an Affidavit sworn on 12th December 2014 at the Court of Appeal Enugu Division after the Court ordered it to pay the Judgment debt into an interest yielding account.” Osigwe clarified.

Recall that GTB last week faulted the claims of Innoson as regards the Supreme Court judgement.

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