Pulse.ng logo

Innoson Motors Reports of fraud charges against chairman, false - Spokesman says

According to Innoson Motor’s spokesman, Cornel Osigwe, the report is a false representation of the fact aimed at discrediting Chukwuma.

  • Published:
GTBank says 'court order' to pay Innoson N12bn is false play

Innocent Chukwuma and GTbank have been having a prolonged legal battle over claims and counter-claims of debts

(Premium Times)

Innoson Motors have issued a statement debunking reports that a court has stopped fraud proceedings against its chairman, Innocent Chukwuma.

According to Innoson Motor’s spokesman, Cornel Osigwe, the report is a false representation of the fact aimed at discrediting Chukwuma.

Osigwe, in a statement, said  Our attention has been drawn to the publication at page 5 of the Nation’s Newspaper of Friday 12 January 2018, with the caption 'Court stays proceedings in fraud case against Innoson others’.

“The content of the publications contains quantifiable elements of misrepresentation of facts and inaccurate address of the issues at hand. We know that the intention of the sponsors of the publication is to bring the personality and integrity of Innoson to disrepute.

“We therefore shall through this medium correctly state the true position and put the records straight.

“GTB stole N560Million from Innoson’s account with it. Innoson as a result sued GTB in Suit No: FHC/AWK/CS/139/2012 at the Federal High Court, Awka Division. In that suit, Innoson got judgment on 16 May 2013 in the sum of N4.7Billion against GTB for stealing N560Million from its account with it.

“Also, in Suit No: FHC/L/CS/603/2006, Innoson got judgment in the sum of N2.4Billion – garnishee order absolute – against GTB. Both judgments attract 22% interest until satisfied by GTB. The N2.4Billion judgment was subsequently affirmed by the Court of Appeal, Ibadan Division in Appeal No: CA/I/258/2011.

"Satisfaction of the judgment debt which, with their respective interests, stood in excess of N11Billion, became a serious problem to GTB. In fact, to this extent GTB had in an affidavit it filed at the Court of Appeal, Enugu Division in Appeal No: CA/E/288/2013 deposed that if it satisfies the judgment debt it will collapse and be out of business.”

Osigwe also claimed that Gtbank, in connivance with the Nigerian Police Force, file a trumped up charge against Innoson.

He said “Consequently, in order to force Innoson to negotiate with it or to drop the judgments, GTB got the Police to file a trumped up charge against Innoson in Charge No: FHC/L/565/2015 at the Federal High Court, Lagos Division in December 2015.

“However, through an instrument dated 17 February, 2016 the Inspector General of Police through U.S. Nwodo Esq. withdrew the Charge – Charge No: FHC/L/565/2015. At paragraph 2 of the instrument, which is enclosed, the IGP cum Stanley Nwodo stated thus: ‘I have found it convenient to withdraw the said charge following a new development which borders on further investigation’.

“Characteristically, GTB invited the former DPP of the Federation, Mr. Diri, to take over the withdrawn Charge and Mr. Diri using the name of the Attorney General of the Federation purports to have taken over the charge. “The question of whether there is a Charge - Charge No: FHC/L/565C/2015 – to be taken over by the DPP of the Federation acting as the Attorney General of the Federation is a subject of Appeal in Appeal No: CA/E/249C/2016 pending at the Court of Appeal, Lagos Division and an offshoot of this – a motion – is a subject of appeal in Appeal No: SC 839/2017 at the Supreme Court of Nigeria. With this, proceedings are yet to commence and none of the Defendants in the charge is, as a result, required to attend the proceedings.”

GTBank’s relationship with Innoson breaks down

Innoson’s spokesman also said that Charge No: FHC/L/565c/2015 is a trumped up charge, demonstrated by the fact that as at 2013, even as at 2012, Innoson was not involved in any transaction with GTB.

Adding that their relationship having broken down irretrievably – except the pending lawsuits in which judgments in the aggregate sum of N11Billion inclusive of interests were rendered in favour of Innoson against GTB.

“Therefore, to say that Innoson committed the offence of falsification of shipping documents as a collateral to GTB to obtain a loan of N2.4 Billion in October 2013 or in any other month or year is laughable.

“The charge which EFCC filed against Innoson at the Lagos State High Court in December 2017 is a volta face and portrays EFCC as an institution which engages in double speaking. EFCC had earlier denied that its reason for arresting Innoson was not because GTB induced it to do that but given the huge public outcry against its action on Innoson, it rushed and filed the charge. This charge shows it acted on behalf of GTB.

“Again, the EFCC charge is a gross abuse of process. First, an earlier charge which GTB induced the EFCC to file against Innoson was struck out. Innoson appealed against the order striking the charge out on the ground that it ought to be a dismissal and not striking out.

ALSO READ: Automaker in court with GTBank over character assassination and defamation

“The appeal, with Appeal No: CA/L/1328/2017 is, till date, still pending when EFCC filed or re-filed, in December 2017, the same charge that was struck out. Secondly, the charge is on the same subject matter and the same party as Charge No: FHC/L/565C/2015 that is pending at the Court of Appeal, Lagos Division, in Appeal No: CA/E/249C/2016.

“Both charges are smear campaign by GTB and EFCC to destroy Innoson,” he added.

EFCC levels allegations against Innoson boss

You will recall that on Tuesday, December 19, 2017, operatives of the Economic and Financial Crimes Commission (EFCC) arrested the chairman of Innoson Motors, Innocent Chukwuma.

Reports say his arrest was following allegations by GTBank, that Chukwuma manipulated bank and shipping documents to obtain tax waivers from the Nigerian government.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.