GT Bank reacts to reported take-over by Innoson

GT Bank reacts to Innoson take over

The management of Guaranty Trust Bank (GT Bank) have reacted to the reported take-over of the bank by Innoson motor manufacturing company, stating that they will take every necessary step to resist the take-over.

Recall that Innoson announced in a statement on Friday that they have received permission from the supreme court of Nigeria to take over the Guaranty Trust Bank (GT Bank) following the judgement of a Federal High Court in Ibadan.


GT Bank reacts to Innoson take over
GT Bank reacts to Innoson take over

The motor manufacturing company stated that they received a writ of FiFa from the Federal High court in Anambra State capital, Awka to effect the Judgement of the Ibadan Federal High Court which was accordingly upheld by the Supreme court.

READ ALSO: INNOSON takes over GT Bank

Recall also that in 2014, the Federal High court in Ibadan had ordered GT Bank by way of Garnishee order absolute to pay N2.4billion to Innoson with a 22% interest, per annum, on the judgment sum until the final liquidation of the judgment debt.

However, reacting to this development, the management of GT Bank has said that it would take every necessary step to resist the “fraudulent execution” of a judgement purportedly gotten by Innoson Motors.

Speaking for the GT Bank management, the company secretary for the bank, Mr. Erhi Obebeduo released a statement which reads below;

“The attention of Guaranty Trust Bank Plc (“the Bank”} has been drawn to statements circulating in the news and social media in respect of purported enforcement of a Judgment 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 Garnishee Proceedings against the account of the Nigerian Customs Service Board domiciled with the Bank and not against the Bank as an entity.” the statement read.

GT BAnk went ahead to assure its customers that all is well and that it remains committed to providing best-in-class customer experience to all its valued Customers.

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