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: 641

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...
Credible 2019 polls: Flush out Yakubu, Zakari from...

Buhari can’t mourn Shagari after bringing down his...

We should stop pretending, everything is wrong with...

Plane search: Buhari, Atiku at each other’s throats...

PDP apologizes for past mistakes, vows to rescue...

Police arraign neuropsychiatric worker for fraud in Enugu...

Army finds body of missing General

Atiku formally declares bid for 2019 presidency

Elder statesman, Adamu Ciroma dies at 84

Native doctor dies while testing bulletproof charm

Herdsmen: Army loses 13 soldiers in Benue, Kogi,...

Nigeria cannot survive another 4 years under Buhari,...

 

Latest News Again, Obasanjo fires Buhari: You’re too sick to run for re-election Council of State approves N27,000 as minimum wage Boko Haram: Angry Nigerian soldiers complain of inadequate weapons, vow to return home Buhari has history of bringing looted funds to Nigeria – Atiku Elections: Army begins ‘Operation Python Dance’ nationwide in January Let Buhari, Atiku, others undergo mental tests before elections –CUPP APC has no plan for Igbo presidency – Obasanjo 2019: I have delivered on campaign promises, says Buhari Shehu Shagari: We've lost a sage, democrat, Says Ekweremadu Zuckerberg sees ‘progress’ for Facebook after ‘tumultuous’ year 2019: Dangote, Tinubu, Otedola make APC presidential campaign council PDP Condemns Police Invasion of Dino Melaye’s Residence

 

Most Read NAFDAC eases processes, cost of registering products for MSMEs (7,356 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (6,125 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (5,846 views) IPOB: ‘We need urgent clarifications on Nnamdi Kanu’s status, whereabouts’, UK Govt tells FG (5,310 views) ASUU strike: Senate intervention ends in deadlock (5,208 views) Ex-governor Adebayo, Keyamo, Arise, others get board appointments (4,291 views) Prince Arthur Eze canvasses support for Buhari, Ugwuanyi (4,146 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (4,133 views) Buhari has disappointed Nigerians – Arewa Youth Forum (4,060 views) Nigeria ripe for Restructuring Now – Nwodo in Chatham House (4,042 views) Anambra: INEC releases 37 candidates for Nov poll (4,035 views) Quit notice: Kaduna Govt obtains bench warrant against Northern youths (3,986 views)

 

SECTIONS NEWS (761) EDITORIAL (6) POLITICS (400) SOCIETY (104) SPORTS (13) BUSINESS (238) HEALTH (16) EDUCATION (20) INTERNATIONAL (31) ENTERTAINMENT (8) TECHNOLOGY (1) COLUMNISTS (0) LETTERS (0) OPINION (10)

 

 

Julius Agwu - Crazy Interview Demands