Founder of Innoson Vehicle Manufacturing (IVM), Innocent Chukwuma, has said he had a very cordial relationship with Guaranty Trust Bank when the late Olutayo Aderinokun, was the Managing Director, but his successor started fighting him.
Chukwuma who spoke in an interview with journalists on Tuesday, disclosed that it was because of his cordial relationship with the late MD decided to open a branch office in Nnewi, Anambra State, his home town.
Chukwuma, whose company, Innoson and GTB have had a business dispute leading to protracted legal battle, in which he had secured judgment debt against the bank in suit FHC/L/Cs/603/2006 and FHC/Cs/139/2012 respectively, which rose to over N32 billion due to accumulated interest, said the bank was yet to pay him the judgement debt.
He had in July, asked a federal high court in Lagos to set aside an order permitting GTB to restructure to a holding company, the bank completed the restructuring, and is now known as Guaranty Trust Holding Company Plc (GTCO Plc).
“I was GTBANK’s best customer in the south-east when Tayo, the former MD, was alive. Because of this, they opened a branch in Nnewi. After Tayo, the new MD took over. I don’t even know him. I saw him for the first time last year,” Chukuma said.
“They started fighting about tribe. I am not certain about this but I think the reason he (GTB) is fighting is because of tribe. I don’t know exactly what his problem is.
“But finally, I have proved him wrong in everything. I have defeated him in all the courts we went to. The only thing left is for him to pay me what he owes me.
“He was going to my account and taking money anyhow. I discovered it, took him to court and won. Up till now, he hasn’t paid and we have gone up to supreme court. Maybe he hasn’t paid because he wants Nigeria to change their law because of him.”
The CEO explained that he would no longer “disturb” the bank to pay the debt, but would take over the bank’s assets.
“The beauty of the whole thing is that the money is attracting the interest of 22 percent. So, I am waiting for the interest to be above their capacity so I can take over,” Chukuma said.
“That’s what I am waiting for. I am not going to disturb them anymore. I am assuring all the customers of GTB that if I take over, I would still run it well. They shouldn’t fear. I haven’t done any business that fails.”