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GTBank Reacts To Reports Of Purported Takeover By Innoson, Says ‘No Illegal or Fraudulent Execution’ Will Be Carried Out

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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.”

BIG STORY

Best Alcohol Unveils New Premium Drink, Best Honey Cream

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A new flavour from the stables of Nigerbev Limited, makers of Best alcoholic beverage, has been unveiled in Nigeria to the delight of their teeming alcoholic beverage lovers.

Best alcohol premium beverage aims to satisfy the taste buds of our esteemed customers and consistent with our pledge to provide Best products and exciting choices at all times, we have recently introduced a new variant called Best Honey cream made from soothing and comforting honey flavor which can be served chilled or with ice.

The product is now available in trade channels (open markets, supermarkets, neighborhood stores, bars, and restaurants)

Best Honey cream is Thick… Rich… Creamy…

Available in 750ml and 200ml #simplythebest

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BREAKING: Egypt’s Ousted President, Mohammed Morsi Dies In Court

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Mohammed Morsi, the ousted president of Egypt, has collapsed during a court session and died, according to state TV.

It is believed that the 67-year-old former leader was attending a session in his trial on espionage charges on Monday when he collapsed and then died.

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Supreme Court To Hear Adeleke, PDP Appeal On Osun Governorship Poll Today

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The Supreme Court has fixed Monday (today) to hear the appeal filed by the candidate of the Peoples Democratic Party in the September 2018 governorship election in Osun State, Senator Ademola Adeleke.

The date of the hearing was contained in notices sent to parties to the suit, which also has the PDP as plaintiff, last week by the Registry of the Supreme Court.

Adeleke and the PDP are seeking the reversal of the May 9, 2019 majority judgment of the Court of Appeal, Abuja, which upheld the election of Adegboyega Oyetola of the All Progressives Congress as the Governor of Osun State.

The ruling of the Court of Appeal came after the March 22, 2019 judgment of the Osun State Governorship Election Petitions Tribunal, which ruled by split decision to give victory to Adeleke and the PDP.

Justices Peter Obiorah and Adegboye Gbolagunte, in the majority decision, upheld the petition, voided Oyetola’s victory and declared Adeleke of the PDP winner of the poll.

Justice Ibrahim Sirajo, who chaired the tribunal, however, gave a minority judgment that dissented and struck out the petition on the grounds that the petitioners did not prove their case.

Oyetola, APC and the Independent National Electoral Commission appealed the majority judgment at the Court of Appeal, Abuja, while Adeleke and the PDP appealed the minority decision.

On May 9, 2019, the Court of Appeal gave its decisions on the appeals, with four members of the five-man panel upholding the appeals by Oyetola, APC and INEC, and dismissing the cross-appeal by Adeleke and the PDP.

The Court of Appeal’s majority judgment set aside the majority judgment of the election tribunal, upheld the result as declared by INEC and affirmed Oyetola of the APC as the winner of the election.

Justices Jummai Sankey, Abubakar Yahaya, Isaiah Akeju and Bitrus Sanga gave the majority decision, while Justice George Mbaba gave the minority judgment, in which he dismissed the appeals and upheld the cross-appeal.

The appeal to be heard by the Supreme Court on Monday is that filed by Adeleke against the majority decisions of the Court of Appeal.

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