Guaranty Trust Bank Plc has described as false, mischievous and malicious, recent reports in the news and social media in respect of a purported directive by the Supreme Court of Nigeria to the Bank to make payments to one of its debtor customers.

Recent media reports had it that the Supreme Court of Nigeria had ordered the management of Guaranty Trust Bank to pay Innocent Chukwuma, chairman of Innoson Group a sum of N12 billion within 14 days.
A statement released on Thursday by Cornel Osigwe, Innoson Group’s head of corporate communications, disclosed that the court struck the motion for stay of execution of the Enugu court of appeal division’s order that GT Bank pays N6 billion into an interest yielding account.
The Supreme Court decision, according to the statement, followed GTBank’s 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) was 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.
It added that the money together with whatever accrues thereon shall be paid to the party who wins the appeal.
GTBank however called on its customers and the general public to “disregard these false statements as nothing could be further from the truth,” adding that there was no directive or Order issued by the Supreme Court of Nigeria to the Bank to make any payment to any of its debtor Customers.

“The Bank as a highly responsible corporate citizen will in accordance with its culture and tradition refrain from making comments about on-going litigation matters and will continue to focus on using legal means to recover its bad debts. It must be emphasised that the Bank remains undeterred in its recovery drive against recalcitrant debtors,” it stated.

It reiterated that “there was no iota of truth in the falsehood being peddled by desperate and mischievous elements and the General Public should disregard same in its entirety, adding that the Bank remained committed to providing best-in-class customer experience to all its valued Customers.

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