Gtbank should pay Innoson #14Billion – Supreme court

GTB To Pay Innoson’s N14Billion Judgment Debt Into An Interest
Yielding Account, Says Supreme Court
Today, 7th of June 2018, The Supreme Court struck out GTBank’s
motion for stay of execution of the Enugu Court of Appeal
Division’s order that GTBank pays over N6 Billion into an interest
yielding account at the Court of Appeal. Innoson’s legal team
which was led by Prof McCarthy Mbadugha ESQ told the Supreme
Court that the Judgment debt which arose from excess and
unlawful charges which GTB took from Innoson’s account now
stood at over N14billion.
The Supreme Court decision follows GTBanks motion for stay of
execution at the Supreme Court when the Court of Appeal Enugu
Division ruled on 9th Dec, 2014 that the appellant (GTB) is hereby
ordered to pay the sum of Five Billion, Nine Hundred and thirty Six
Million, One Hundred and Twenty Six Thousand, Two Hundred and
Nineteen Naira, One Kobo (N5,936,126,219.01k) to the Deputy
Chief Register of the Court within 14 days from the date of ruling
and which the Deputy Chief Register shall pay same into an
interest yielding account in a reputable bank other than Diamond
Bank or Mainstreet Bank Plc pending the determination of this
appeal. The money together with whatever accrues thereon shall
be paid to the party who wins the appeal.
GTBank not satisfied with the decision of the ruling of Court of
Appeal, filled a motion for stay of execution at the Supreme Court,
however Supreme Court today struck out GTB motion for stay of
execution and maintained that it will not hear GTBank’s motion for
stay of execution until it obeys the ruling of Court of Appeal to pay
the said money into an interest yielding account.
By Supreme Court decision today, GTB is expected within 14 days
to pay the sum of over N14Billion judgment debt to the Deputy
Chief Registrar of the Court of Appeal Enugu Division and which
will now be paid into an interest yielding account in a reputable
bank. The money together with whatever interest accrues thereon
shall be paid to the party who wins the appeal.
Cornel Osigwe

4 Comments

  1. Why will people be wicked dlike this?

  2. Good information

  3. Ok

  4. The amount is too much

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