GTB reacts to take over claim by Innoson

GTBank building used to illustrate the story

The management of Guaranty Trust Bank, GTB, has said that it would take every necessary step to resist “fraudulent execution” of a judgement purportedly gotten by Innoson Motors.

PREMIUM TIMES on Friday reported how the motor company claimed it had been mandated by the court to “take over” the bank.

GTB and Innoson Motors have for years been locked in a long-running legal tussle over a controversial business deal.

While the bank claimed that the company deployed fraudulent means in its deals, the motor company denies the claim.

The controversy took a new turn Friday when Innoson released a press statement claiming it had an order of the court to take over assets of GTB.

But in its response, Erhi Obebeduo, company secretary of the bank, said the bank would resist any attempt to execute any such “illegal or fraudulent execution”.

“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 said.

“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.”

GTB assured its customers that all was well and that it remains committed to providing best-in-class customer experience to all its valued Customers.


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