N8.7 b Financial obligation: GTB withstands seal of bank

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— we will begin contempt case– INNOSON.

By Dennis Agbo.

ENUGU-GUARANTY Trust Bank has actually withstood effort to seal its branches by Innoson Group of business, who was licensed by court to seal the bank up until it pays up.

Innoson has actually nevertheless alerted that the bank’s resistance totals up to contempt of the court order and has actually sworn to conjure up complete weight of the law versus GT bank.

In a moderate turmoil at Ogui roadway branch of the bank in Enugu, on Monday, authorities of the bank declined Innoson and its group of legal representatives and security workers from performing the seal order.

The drama produced panic withdrawals by the bank consumers who might not understand the imbroglio.

Bank supervisor of the Ogui roadway branch informed Innoson legal representatives and security guys that they must not seal the bank, and argued that the order the court provided was execution order to pay Innoson it’s loan however not to seal the bank.

” The court did not inform you to seal our bank, what they provided was an execution order to pay him his loan. If they provided you order to seal it let us see the paper from court which orders you to do so.

” We are not above the law. Everyone understands that Supreme Court is the peak court in the land, once they state it that’s last, however we have actually not seen the paper from the Supreme Court that provided the order, and up until we see that, we will not enable you to seal our bank.” the branch supervisor stated.

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The turmoil infect town that made the bank consumers hurry to the bank to withdraw their loan.

Innoson’s head of interactions, Cornel Osigwe nevertheless stated that it’s next line of action would be contempt charge versus the bank for blocking court’s execution order.

Osigwe stated “This goes to reveal the character of the business that we’re handling. The character of the business that has actually stopped working to comply with court judgement, the character of the business that has actually regularly utilized kangaroo design and technique as their bank relationship management to their finest consumers.

” We’re a law abiding business, the writ of Fifa execution was performed by the court bailiff through due procedure of the law. We will begin contempt procedures versus the Branch supervisor and the Handling Director. No one is larger than the court in Nigeria.”.

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