The Supreme Court has ordered the management of Guaranty Trust Bank to pay the Chairman of Innoson Group,

Innoson Group's Head of Corporate Communications, Cornel Osigwe, disclosed this in a statement issued on Thursday, June 7.

He said the court struck out the motion for stay of execution of the Enugu court of appeal division's order.

The appellate court had order Guarantee Bank to pay N6 billion into an interest yielding account.

Innoson, as Chukwuma is fondly called, and GTBank have been in a prolonged legal battle over claims by the industrialist that the bank made arbitrary deductions in his bank accounts.

The bank countered the allegations, saying it was  Chukwuma who allegedly falsified bank and shipping documents to obtain tax waivers from the Nigerian government.

In December 2017, the Economic and Financial Crimes Commission (EFCC) filed fraud charges against Innoson and subsequently arrested him after he was said to have failed to honour the agency's invitation.

The EFCC had alleged that the defendants with intent to defraud; conspired to obtain by false pretences containers of motorcycle, spare parts and raw materials, property of Guaranty Trust Bank (GTB) from Mitsui OSK Lines Ltd, Apapa, Lagos.

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They are alleged to have fraudulently induced staff of Mitsui OSK and Maersk Line to deliver to them via their clearing agents the goods which were imported from China in the name of GTB by falsely pretending that they were authorised by the bank to clear the goods.

The agency claimed that in order to facilitate the fraud, Chukwuma forged a bill of lading numbered 598286020 of Maersk Line Limited and 11007950841 of Mutsui O.S.K Lines by knowingly putting a false GTB stamp and signature of the bank staff.

The alleged forgery was in order that the forged documents be used or acted upon as genuine to the prejudice of any person within Lagos or elsewhere.