Supreme Court gives GTBank 14 Days to pay Innoson N14bn

By Editor on 07/06/2018

Share on facebook Yahoo mail icon Gmail icon

Views: 314

Innocent Chukwuma
Innocent Chukwuma

Innocent Chukwuma may be having the last laugh over his travail with GTBank giving the Supreme Court ruling Thursday striking out the bank’s motion for stay of execution of the Enugu Court of Appeal Division’s order that it should pay over N6 Billion into an interest yielding account at the Court of Appeal.
 
The Supreme Court also ordered GTBank to pay Innoson N14 billion within 14 days.
 
 
A statement by Cornel Osigwe, head, Corporate Communications, Innoson Group, on Thursday, June 7, stated that “Innoson’s legal team which was led by Prof McCarthy Mbadugha ESQ told the Supreme Court that the Judgment debt which arose from excess and unlawful charges which GTB took from Innoson’s account now stood at over N14billion.
 
 
According to the statement, “The Supreme Court decision follows GTBanks motion for stay of execution at the Supreme Court when the Court of Appeal Enugu Division ruled on 9th Dec, 2014 that the appellant (GTB) is hereby ordered to pay the sum of Five Billion, Nine Hundred and thirty Six Million, One Hundred and Twenty Six Thousand, Two Hundred and Nineteen Naira, One Kobo (N5,936,126,219.01k) to the Deputy Chief Register of the Court within 14 days from the date of ruling and which the Deputy Chief Register shall pay same into an interest yielding account in a reputable bank other than Diamond Bank or Mainstreet Bank Plc pending the determination of this appeal. The money together with whatever accrues thereon shall be paid to the party who wins the appeal.
 
 
“GTBank not satisfied with the decision of the ruling of Court of Appeal, filled a motion for stay of execution at the Supreme Court, however Supreme Court today struck out GTB motion for stay of execution and maintained that it will not hear GTBank’s motion for stay of execution until it obeys the ruling of Court of Appeal to pay the said money into an interest yielding account.
 
 
“By Supreme Court decision today, GTB is expected within 14 days to pay the sum of over N14Billion judgment debt to the Deputy Chief Registrar of the Court of Appeal Enugu Division and which will now be paid into an interest yielding account in a reputable bank. The money together with whatever interest accrues thereon shall be paid to the party who wins the appeal.”

Posted 07/06/2018 10:33 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Nigeria’s population now 198 million – NPC

President Buhari appoints NERC Chairman, Others

Buhari declares June 12 Democracy Day, honours Abiola...

Police arrest man who infected more than 200...

Ekweremadu meets with UK Envoy, Says Constitution, Electoral...

Melaye, 3 others charged with illegal possession of...

2019 elections will be free, fair -- President...

Dismissed US soldier nabbed in Owerri for defrauding...

Offa robbery: Again, Saraki writes Police IG, denies...

Herdsmen kill over 50 in coordinated attacks on...

Kogi bans activities of trade unions in state...

LG polls: Twin explosions rock Enugu

 

Latest News Removing Saraki won’t reduce price of rice to N7,000 – Fayose SARAKI: I am considering running against Buhari in 2019 Why all Nigerians must be involved in politics – Moghalu Buhari not healthy, cabal running his govt – Tambuwal Businessman loses N177.5m to Chinese fraudster, sues bank Saraki will be lawfully and democratically impeached – Oshiomhole 150 corrupt persons convicted in six months –Magu Buhari has destroyed Nigeria in three years - Charlie Boy Senators sue AGF, DSS, police for alleged plot to remove Saraki 2019: It’ll be Buhari/Osinbajo joint-ticket – Presidency Hold FG, APC responsible if democracy comes near harm —PDP PDP raises alarm over alleged plot to arrest Saraki, Ekweremadu

 

Most Read NAFDAC eases processes, cost of registering products for MSMEs (6,473 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (4,746 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (4,605 views) IPOB: ‘We need urgent clarifications on Nnamdi Kanu’s status, whereabouts’, UK Govt tells FG (4,101 views) ASUU strike: Senate intervention ends in deadlock (4,022 views) Ex-governor Adebayo, Keyamo, Arise, others get board appointments (3,354 views) Nigeria ripe for Restructuring Now – Nwodo in Chatham House (3,094 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (3,039 views) Buhari has disappointed Nigerians – Arewa Youth Forum (3,025 views) Quit notice: Kaduna Govt obtains bench warrant against Northern youths (3,022 views) Anambra: INEC releases 37 candidates for Nov poll (2,998 views) Chime not owner of Enugu Mall – Spar (2,508 views)

 

SECTIONS NEWS (368) EDITORIAL (5) POLITICS (318) SOCIETY (99) SPORTS (12) BUSINESS (184) HEALTH (16) EDUCATION (14) ENTERTAINMENT (7) INTERNATIONAL (26) TECHNOLOGY (1) COLUMNISTS (0) LETTERS (0) OPINION (8)

 

 

Julius Agwu - Crazy Interview Demands