N8.7b Debt: GTB Resists Seal Of Bank…. –We Shall Commence Contempt Proceeding – INNOSON

GUARANTY Trust Bank has resisted attempt to seal its branches by
Innoson Group of companies, who was authorized by court to seal the
bank until it pays up.

Innoson has however warned that the bank’s resistance amounts to
contempt of the court order and has vowed to invoke full weight of
the law against GT bank.

In a mild commotion at Ogui road branch of the bank in Enugu, on
Monday, officials of the bank refused Innoson and its team of
lawyers and security personnel from executing the seal order.

The drama made for panic withdrawals by the bank customers who
could not comprehend the imbroglio.

Bank manager of the Ogui road branch told Innoson lawyers and
security men that they should not seal the bank, and argued that
the order the court gave was execution order to pay Innoson it’s
money but not to seal the bank.

“The court did not tell you to seal our bank, what they gave was
an execution order to pay him his money. If they gave you order to
seal it let us see the paper from court which orders you to do
so.

“We are not above the law. Everybody knows that Supreme Court is
the apex court in the land, once they say it that’s final, but we
have not seen the paper from the Supreme Court that gave the order,
and until we see that, we will not allow you to seal our bank.” the
branch manager said.

The commotion spread to town which made the bank customers rush
to the bank to withdraw their money.

Innoson’s head of communications, Cornel Osigwe however said
that it’s next line of action would be contempt charge against the
bank for obstructing court’s execution order.

Osigwe said “This goes to show the character of the company that
we’re dealing with. The character of the company that has failed to
obey court judgement, the character of the company that has
consistently used kangaroo style and method as their bank
relationship management to their best customers.

“We’re a law abiding company, the writ of Fifa execution was
carried out by the court bailiff through due process of the law. We
shall commence contempt proceedings against the Branch manager and
the Managing Director. Nobody is bigger than the court in
Nigeria.”