Guaranty Trust Bank (GTB) has responded to media reports that the Supreme Court awarded N14 billion against it in its case against Innoson Motors and its Chairman, Innocent Chukwuma. In a statement signed by the Company Secretary, Erhi Obebeduo, the bank described the reports as a “false, mischievous and malicious” account of what transpired at the apex court. The bank urged its customers and shareholders to disregard the reports as it continues in its drive to recover bad loans from “debtor customers”. The statement read in full, “The attention of Guaranty Trust Bank Plc (“the Bank”) has been drawn to false, mischievous and malicious statements circulating in the news and social media in respect of a purported directive by the Supreme Court of Nigeria to the Bank to make payments to one of its debtor customers. “The Bank’s Customers and the General Public are hereby kindly urged to disregard these false statements as nothing could be further from the truth. There was no directive or Order issued by the Supreme Court of Nigeria to the Bank to make any payment to any of its debtor customers. “The Bank as a highly responsible corporate citizen will in accordance with its culture and tradition refrain from making comments about on-going litigation matters and will continue to focus on using legal means to recover its bad debts. It must be emphasised that the Bank remains undeterred in its recovery drive against recalcitrant debtors.]]>

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