The case between GT Bank and Innoson Motors took another turn yesterday after the local car manufacturer sent out a tweet with the heading “Innoson Takes over GTB over N8.7 Billion Judgment debt; as Supreme Court Dismiss GTB’s Appeal”

In a series of tweets published by the company, it claimed it “through a Writ of FiFa taken over Guaranty Trust Bank PLC for and on behalf of Innoson Nigeria Ltd as a result of the Bank’s indebtedness to Innoson Nigeria Ltd.”. It also claimed this was based on “a landmark decision” on February 27th, 2019, where “the Supreme Court of Nigeria dismissed GTB’s appeal – SC. 694/2014- against the judgment of the Court of Appeal, Ibadan Division.”

See thread below;

Bua group

Innosons’ claim against GT Bank


The judgment allegedly in issue is in respect of garnishee proceedings against the account of the Nigeria Customs Service domiciled with the bank, and not the bank as an entity. 

The bank as a law-abiding corporate citizen is taking all necessary steps to address the situation and to ensure that no illegal or fraudulent execution is carried out.


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