AbaCityBlog
Sunday, July 27, 2025
  • Login
  • HOME
  • Student Guides
  • Scholarships
  • Travel
  • Tech
  • Business
  • Make Money Online
  • Gadgets
  • DIY
No Result
View All Result
  • HOME
  • Student Guides
  • Scholarships
  • Travel
  • Tech
  • Business
  • Make Money Online
  • Gadgets
  • DIY
No Result
View All Result
AbaCityBlog
No Result
View All Result

Legal Practitioner Explains Real Reason How Innoson Takes Over GTBank

March 29, 2019
in Special Reports

Reports broke out earlier today, that 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.

However, Nigerians who do not understand the meaning of the word; “Writ of FiFa”, have taken to social media to ask what it does really mean.

Some find it difficult to understand, while others find it weird as such word can only be understood by legal practitioners.

RELATED POST: INNOSON Takes Over GTB Over N8.7 Billion Judgement Debt; As Supreme Court Dismiss GTB’s Appeal

To make it clear and easy to comprehend, a legal practitioner and human rights activist, Mr. Seth Tanko Tsokwa, has taken his time to explain to his followers what the word really means.

He wrote; “For those asking for explanation: @innosonvehicles won a court case against @gtbank and GTB was ordered to pay innoson about 2Billion naira, with a 22% annual interest. Rather than just pay, GTB appealed the decision and lost at the court of appeal. Instead of paying they decided…

“to appeal further to the Supreme court. Meanwhile the interest kept pilling up. GTB lost again at the Supreme court. And no more appeal! Now what the owe innoson has risen from about 2Billion to 8billion plus. Apparently GTB has still not paid. The lawyers to innoson have…

“applied for a writ of Fifa, what this means is that once obtained they would have the authority to seize and take over any property belonging to GTB they find which is sufficient to defray the sum owed Innoson.

Innoson Takes Over GTBank

Tags: BusinessGTBankInnoson MotorsInnoson Takes Over GTBank
Next Post

Warning: Undefined array key "jnews-75x75" in /home/abacsskt/public_html/wp-content/themes/jnews/class/Image/Image.php on line 114

Warning: Trying to access array offset on null in /home/abacsskt/public_html/wp-content/themes/jnews/class/Image/ImageLazyLoad.php on line 105
Abia 2019: Gambian Government congratulates Ikpeazu on his victory

Abia 2019: Gambian Government congratulates Ikpeazu on his victory


Warning: Undefined array key "jnews-75x75" in /home/abacsskt/public_html/wp-content/themes/jnews/class/Image/Image.php on line 114

Warning: Trying to access array offset on null in /home/abacsskt/public_html/wp-content/themes/jnews/class/Image/ImageLazyLoad.php on line 105
Biafra

Biafra: Rehabilitation of Internally Displaced Ibolites in the West and North of Nigeria

Comments 1

  1. Dr. Peter Ejirika,CPA, Scholarly Practitioner, Montgomery, West Virginia says:
    6 years ago

    Brother Innoson, you will agree with me that you have no skills in managing a bank so assumption of the assets of a bank is a decision that sets you up for failure rather obtain the services of Financial Experts with banking background to study your case and advise you accordingly. The decision to assume the assets of the bank may be a good legal decision but it has no going concern value thus a very dangerous and tempting decision.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About us
  • Advertise
  • Contact us
  • Privacy Policy
Call us: +2347038111972

© 2023 Abacity Blog Media

Social icon element need JNews Essential plugin to be activated.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Contact us
  • Advertise
  • Aba News
  • #OffBeat

© 2023 Abacity Blog Media