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: 1,402

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...
Oil War: Anambra, Kogi communities accept ceasefire, take...

FG approves licences for online radio, TV

Kanu sounds tough, warns South-East govs over IPOB...

Emir of Biu, Umar Aliyu, is dead

Bill on creation of state, community police passes...

Buhari exempts journalists, others from sit-at-home order

Obaseki: Nigeria in Financial Woes, Printed N60bn to...

Rochas Okorocha expose: My travails in Imo

With 87m poor citizens, Nigeria overtakes India as...

We won’t surrender to bandits, El-Rufai vows

COVID 19: Gov Diri denies contacts with Abah...

Former Service Chiefs defeated Boko Haram in newspapers...

 

Latest News Nigeria Middle Belters defined ahead of restructuring plans Asaba Declaration: Southern govs resist Senate’s anti-restructuring stance Policeman gets N100,000 reward for returning accident victim’s N1.2m El-Rufai condoles families of victims of recent banditry attacks across five LGAs SEEDS OF DESTINY 16TH MAY, 2021 - VISION – REVIEW IT TO FULFIL IT Kano fire service confirms death of girl, 16, after falling into well Petroleum tanker accident claims 1 in Enugu ‘Yoruba Nation’: No election in South West until we get independence – Sunday Igboho Group launches another security outfit to protect Igbos, property Police arrest 16 suspects for alleged cultism in Enugu, recover arms Waterways Obstruction: ECTDA issues 30 days ultimatum to defaulting Enugu property owners Three feared dead as gunmen burn police station in Delta

 

Most Read I’ve no Coronavirus, govt wants to kill me – Anambra Index case (99,580 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (88,461 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (87,160 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (87,159 views) Ebonyi bans embalming of corpses in homes (87,159 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (87,159 views) Sickle cell support group seeks government intervention (87,157 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (86,987 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (85,454 views) ASUU strike: Senate intervention ends in deadlock (84,401 views) All you need to know about Peter Obi, PDP VP Candidate (69,684 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (67,595 views)

 

 

SECTIONS FAITH (118) EDITORIAL (14) NEWS (5,261) POLITICS (484) SOCIETY (125) SPORTS (44) BUSINESS (349) HEALTH (51) EDUCATION (44) INTERNATIONAL (145) ENTERTAINMENT (35) TECHNOLOGY (1) COLUMNISTS (57) LETTERS (3) OPINION (33)

 

 


There are no video entries posted yet.