Supreme Court did not order us to pay Innoson N14bn -GTBank

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Guaranty Trust Bank Plc, Nigerian multinational financial institution, has described a statement credited to Nigeria’s automobile company, Innoson Group that the Supreme Court of Nigeria has ordered the bank to pay a sum of N14 billion within fourteen (14) days into an interest yielding account as “false, mischievous and malicious”.

Recall that Innoson had claimed in a statement issued by Cornel Osigwe, the Group’s head of corporate communications, that the apex bank in a statement delivered on Thursday, June 7, struck out the motion for stay of execution of the Enugu court of appeal division’s order that GT Bank pays N6 billion into an interest yielding account.

The statement said the Supreme Court decision follows GTBanks motion for stay of execution at the Supreme Court when the Court of Appeal Enugu Division ruled on December 9, 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.

The court held that the money should be paid 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, Osigwe revealed in the statement.

Reacting to Innoson’s claims in a statement issued by Erhi Obebeduo,  GTBank Secretary, the lender stressed that there is no iota of truth in the falsehood being peddled by desperate and mischievous elements and that the general public should disregard same in its entirety”.

The statement reads in full: “The attention of GTBank has been drawn to false, mischievous and malicious statements circulating in the news and social media in respect of a purported directive by the Supreme Court of Nigeria to the Bank to make payments to one of its debtor Customers.

“The Bank’s Customers and the General Public are hereby kindly urged to disregard these false statements as nothing could be further from the truth. There was no directive or Order issued by the Supreme Court of Nigeria to the Bank to make any payment to any of its debtor Customers

“The Bank as a highly responsible corporate citizen will in accordance with its culture and tradition refrain from making comments about on-going litigation matters and will continue to focus on using legal means to recover its bad debts.

“It must be emphasised that the Bank remains undeterred in its recovery drive against recalcitrant debtors.

“We again reiterate that there is no iota of truth in the falsehood being peddled by desperate and mischievous elements and the General Public should disregard same in its entirety.

“The Bank remains committed to providing best-in-class customer experience to all its valued Customers. We thank you for your continued support and patronage”, the statement added.

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