GTBank Refutes Judgment ‘Ordering’ Innoson To Take Over Its Properties [Photos]

March 30, 2019
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The Guaranty Trust Bank (GTB) has refuted the reports going round that a Federal High Court in Awka, Anambra State has granted Innoson Nigeria Limited leave to take over the bank’s properties over N8.8 billion indebtedness to the company.

On Friday, Innoson had claimed that it obtained a writ of FiFa from the Federal High Court, Awka, Anambra State, against the GTBank affect the judgment given by the Federal High Court in Ibadan and upheld by the Supreme Court of Nigeria.

Writ of FiFa (Writ of Fieri Facias) is a leave of court to execute a judgment obtained by a judgment creditor in a legal action for debt or damages by levying on the property of the judgment debtor.

However, the bank has moved to assure its customers of the safety of their funds, clarifying that the said judgement is applicable to the account of the Nigerian Customs Service Board domiciled with the bank, and not against GTBank as an entity.

“The attention of Guaranty Trust Bank PLC (“the Bank”) has been drawn to statements circulating in the news and social media in respect of a purported enforcement of a judgement of the Federal High court, Ibadan, Oyo state, at one of its branches in Anambra state,” it said in a statement on Friday night.

“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 a Garnishee Proceedings against the account of the Nigerian Customs Service Board domiciled with the Bank and not against the Bank as an entity.

“The Bank remains committed to providing best-in- class customer experience to all its valued customers.”

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