N32bn debt: I’ll soon take over GTB, says Innoson boss

The Chairman of Innoson Group, Innocent Chukwuma, has said he will take over Guaranty Trust Bank Plc if it fails to pay N32 billion owed him.
Chukwuma and the bank had been locked in a legal battle for over five years now.
Chukwuma, who spoke with some journalists on his relationship with the bank, said he was waiting for the interest on the money GTB was owing him following court judgments to move in and take over the bank.
He had secured a judgment debt against the bank in suit FHC/L/Cs/603/2006 and FHC/Cs/139/2012, which increased to over N32 billion due to accumulated interest.
Speaking with newsmen, Chukwuma said he had a cordial relationship with the bank in the past during the tenure of its late Managing Director, Olutayo Aderinokun.
He said, “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.
“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 until 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 beauty of the whole thing is that the money is attracting the interest of 22 per cent.
“So, I am waiting for the interest to be above their capacity so I can take over the bank. That’s what I am waiting for. I am not disturbing 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. I will run it better than them.
“If they cannot pay me, I have no choice but to take over the management.”