The Olowu of Iwo land Oba Abdulrosheed Adewale Akanbi has lauded Dr Innocent Chukwuma and his company Innoson motors on their victory at the Supreme Court against Guaranty Trust Bank, popularly known as GTBank.
Oba Akanbi while congratulating Dr Innocent Chukwuma, he called him his son and friend, saying that he is happy that he got the judgment he deserved, as he himself as a father, had mediated on the issue before it got to this stage. He said he is happy his friend Dr Innocent Chukwuma won the case against the bank.
Taking to his Instagram, the stylish Oba wrote:
“I congratulate my son, friend and a confidant, Chief Innocent Ifediaso Chukwuma, the CEO of Innoson Vehicle on his recent victory at supreme Court against GTbank. Initially, as a father to the nation, I mediated to bring out olive. To the glory of God and impartiality of Nigeria judiciary, Innoson has the case. I rejoice with him and his company, Innoson Vehicle Manufacturing, Nnewi (IVM). I’m hopeful Nigerians and entire world will celebrate Innoson Vehicle more. It is one of our highest pride in Nigeria.” he said
The Anambra state-based local car manufacturing/ assembling company Innoson owned by Dr innocent Chukwudi allegedly won its legal battle against popular bank, Guaranty Trust Bank at the Supreme Court, where the Bank was ordered to pay the sum of N2billion naira and all 22% accrued interest from the day of the first judgement which now amounts to N8.8billion naira.
The statement released by the spokesman of Innoson and Dr Innocent Chukwuma on the landmark judgement which GTBank has since denied reads:
The Chairman of Innoson Group, Chief Dr Innocent Chukwuma, OFR has through a Writ of FiFa taken over Guaranty Trust Bank PLC for and on behalf of Innoson Nigeria Ltd as a result of the Bank’s indebtedness to Innoson Nigeria Ltd. In a landmark decision on February 27th 2019, the Supreme Court of Nigeria dismissed GTB’s appeal – SC. 694/2014– against the judgment of Court of Appeal, Ibadan Division.
The Court of Appeal, Ibadan division had in its decision of 6th February 2014 dismissed GTB’s appeal against the Federal High Court, Ibadan Division.
Thus, the Court of Appeal affirmed the judgment of the Federal High Court, Ibadan Division which ordered GTB by way of Garnishee order absolute – to pay N2.4 Billion to Innoson with a 22% interest, per annum, on the judgment sum until the final liquidation of the judgment debt.
Rather than obey the judgment of the Court of Appeal,GTB approached the Supreme Court to challenge the Court of Appeal’s decision.
However in an ruling delivered by Honourable Olabode Rhodes-Vivour JSC on Wednesday, February 27th2019, the Lord Justices of the Supreme Court (JSC) dismissed GTB’s appeal and thus affirmed the concurrent judgment of both the Court of Appeal and the Federal High Court, Ibadan Division which ordered GTB by way of Garnishee order absolute – to pay N2.4 Billion to Innoson with a 22% interest, per annum, on the judgment until the final liquidation of the judgment.
The Judgment debt of N2.4B has an accrued interest as at today of about N6,717,909,849.96 which results to about N8.8 Billion.
Based on the Supreme Court’s decision of 27th February 2019 the counsel to Innoson, Prof McCarthy Mbadugha ESQ, had approached the Federal High Court Awka Division for leave to enforce the judgment having obtained Certificates of Judgment from the Ibadan Division of the Federal High Court.
Having obtained the requisite leave, the Federal High Court issued the necessary process for levying execution – the Writ of Fifa.”