The battle between Guaranty Trust Bank [GTB] and Innoson Nigeria Ltd, which has been raging for years now, has taken a dramatic twist.
Innoson Nigeria Ltd was charged to court for its conspiracy in unlawfully falsifying shipping clearance documents and using same as collateral to obtain a loan of N2.4 billion from Guaranty Trust Bank Plc.
A Federal High Court in Lagos has now issued a bench warrant approving the immediate arrest of Innocent Chukwuma who is the chairman and CEO of Innoson Nigeria Ltd.
The bench warrant is a result of Mr Chukwuma Innocent’s inability to appear before the court and presiding Judge, Ayokunle Faji, over the alleged ₦2.4 billion fraud case.
The Innoson Motors CEO, Mr Chukwuma Innocent, who was prosecuted along with his aide, Charles Chukwuma, Anakjekwu, Mol shipping company and Maxiamian Chukwura, has said the bench warrant is an "abuse of power" and a process far-fetched by a court he described as having 'No grounds in the law'.