How My Tribe Caused Me Problems With GTB – Innoson

Innocent Chukwuma, chairman, Innoson Group has recounted how his relationship with Guaranty Trust Bank (GTB) now Guaranty Trust Holding Company Plc (GTCO Plc) changed after the exit of the former chief executive officer (CEO), Olutayo Aderinokun because of his Igbo tribe.

 GreenWhiteGreen GWG reports that Aderinokun died in 2011 after a protracted illness.

Speaking to journalists, Chukwuma said that he was waiting to take over the bank on the claim that its debt to him would soon outgrow its capacity.

Innoson had secured judgment debt against GTB in two different suits FHC/L/Cs/603/2006 and FHC/Cs/139/2012 respectively, which rose to over N32 billion due to accumulated interest.

Innoson had ahead of the restructuring of the bank into a holding company approached the courts to stop the move on the claim that it was an attempt to escape the judgment debt, but the process, however, proceeded unhindered with the emergence of the restructured company as Guaranty Trust Holding Company Plc (GTCO Plc).

Noting how his relationship with the bank deteriorated after the death of 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,” 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.”

Asserting that sooner or later that he would take over the bank when it would not be able to pay the judgment debt, he said:

“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 the bank,” Chukuma said.

“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 failed,” the Innoson boss said.

“I will run it better than them. If they cannot pay me, I have no choice but to take over the management.”

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