A Nigerian Manufacturing company, Innoson Motors, is set to take over Gybank after it revealed that it has secured a writ Fifa from the Federal High Court in Awka, Anambra State, against Guaranty Trust Bank (GTB).
The bank is said to be owing the car manufacturing company N2.4bn which has an accrued interest as at today of about N6,717,909,849.96 which results in about N8.8 billion.
The Writ of FiFa secured only means Innoson Motors can sell property of GTB equivalent to the judgement debt (N8.8bn). It doesn’t translate to Innoson Motors having a share of GTB or GTB customers losing their money.
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