GTB vs Innoson – what you must do ASAP as a customer

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.

On Friday, a Nigerian car manufacturing company, Innoson Nigeria Limited had announced that it obtained a Writ of Fieri Facias  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 Writ of Fieri Facias has 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 27 2019, the Supreme Court of Nigeria dismissed GTB’s appeal — SC. 694/2014 — against the judgment of Court of Appeal, Ibadan Division.”

Osigwe subsequently announced that “Innoson Nigeria Ltd has taken over GTBank in Awka and Nnewi,” , adding that “other branches are coming soon”.

Meanwhile, Guarantee Trust Bank has 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.