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No cause for alarm over issues with Innonson Motors - GT Bank

Guaranty Trust Bank (GTB) says it is taking all necessary legal steps to ensure that no illegal or fraudulent execution is carried out over ...



Guaranty Trust Bank (GTB) says it is taking all necessary legal steps to ensure that no illegal or fraudulent execution is carried out over its court case with Innoson Motors.
Innoson Nigeria Ltd. had announced that it obtained a writ of Fifa from the Federal High Court in Awka, Anambra State, against GTB.

According to the company, the writ is to effect the judgment given by the Federal High Court in Ibadan and upheld by the Supreme Court of Nigeria.

The Company Secretary of GTB, Mr Erhi Obebeduo, in a statement, however, assured the bank’s customers of the safety of their funds.

In its clarification, GTB said the judgement was 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.

“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,” it said. (NAN)

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