EFCC siding with GT Bank in legal tussle, says Innoson Motors

Innoson Nigeria Limited, an indigenous  vehicle manufacturer, alleges Nigeria’s anti-graft agency, the EFCC, has decided to side with Guarantee Trust Bank in the lingering ligation with the latter.

In a statement it released on Wednesday, Innoson claimed the EFCC was interfering in the litigation to give advantage to GTB.

“The motive behind the renewed interest by the EFCC to launch an investigation in a matter already decided by the courts can only be explained by GTB. This is not the first time that EFCC has chosen to take sides with GTB and allowed itself to be inveigled into matters that are not matters of crime for reasons best known to them in an issue EFCC should stand as an unbiased umpire. EFCC has constantly taken GTB’s affairs as if it is a National Affair,” statement by Cornel Osigwe Head of Corporate Communications and Affairs of Innoson Group read.

Innoson, last year, requested a Federal High Court sitting in Lagos to set aside an order permitting Guaranty Trust Bank (GTB) to transmute into Guaranty Trust Holding Company, given its N8.2 billion indebtedness to it.

A court had in 2014 awarded the sum to Innoson Motors, which accumulated over time and now stands at N32.8 billion.

There has been no official statement from the EFCC on the allegation levelled against it.

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