Innoson Sues GTBank For N400 Billion Over Alleged Defamation

It must be noted that Innoson Nigeria Limited had won various lawsuits against the bank. On 29th July 2011, the Federal High Court, Ibadan Division, through a garnishee order absolute ordered the Defendants (GTBank) to pay the sum of N2,048,737,443.6K (Two Billion, Forty Eight Million, Seven Hundred and Thirty Seven Thousand, Four Hundred and Forty Three Naira, Sixty Seven Kobo) to Innoson Nigeria Ltd.

GTBank however appealed against the judgment to the Court of Appeal, Ibadan Division. In a unanimous judgment, delivered on February 6, 2014, the Court of Appeal dismissed the appeal, affirmed the judgment of the trial Court and ordered the defendant (GTBank) to pay the said sum of N2,048,737,443.6K (Two Billion, Forty Eight Million, Seven Hundred and Thirty Seven Thousand, Four Hundred and Forty Three Naira, Sixty Seven Kobo) to Innoson Nigeria Ltd.

Still aggrieved, the defendant, GTBank, appealed to the Supreme Court on 11 Grounds. Subsequently, GTBank sought to amend its notice of appeal – to adduce Fresh Evidence – to show that Innoson Nigeria Ltd obtained the judgment of the Court of Appeal by fraud and fraudulent suppression of material facts.

GTBank had through its motion on notice in Appeal No: SC/694/2014 dated the 22nd of January 2016 and filed at the Supreme Court on the 5th of February 2016, with a 15 paragraph affidavit in support averred that Innoson Nigeria Ltd obtained the Court of Appeal Judgment against GTBank in Appeal No CA/I/258/2011 by fraud.

Similarly, at paragraphs 9 and 10 of the affidavit in support of the said motion on notice deposed to by Sarah Ugamah on behalf of GTBank, GTBank said that Innoson Nigeria Ltd fraudulently suppressed that it was paid the sum of N1,406,515,845.98 (One Billion, Four Hundred and Six Million, Five Hundred and Fifteen Thousand, Eight Hundred and Forty-Five Naira, Ninety-Eight Kobo) in liquidation of the judgment debt.

However in a unanimous decision, on 12th May 2017, the Supreme Court dismissed the GTBank’s said motion on notice; and while dismissing the motion, Supreme Court stated, inter alia, that GT Bank engaged in double speaking and in a frivolous frolic in bringing the application.

In the fresh suit, Innoson Nigeria Ltd and Chief Innocent Chukwuma maintained that the words published by GTBank – that it obtained the Court of Appeal Judgment by fraud and fraudulent suppression of the fact that Innoson Nig. Ltd. was paid the sum N1, 406,515,845.98 in final liquidation of the judgment debt – implies that Innocent Chukwuma and Innoson Nigeria Ltd are dubious, dishonest, dishonorable, and untrustworthy, of questionable character, fraudster, criminally deceptive, cheats and obtaining money through false pretenses.

In consequence, Innoson Nigeria Ltd and Innocent Chukwuma are claiming against the GTBank Plc as follows: N100 Billion exemplary damages; N100 Billion for injury to feelings – mental pains and anxiety; N150 Billion for injury to reputation, and N50 Billion general damages.

Innoson Nigeria Limited and Chief Innocent Chukwuma further claim that the “published words complained of be retracted by the defendant – GTBank with an apology published in two national newspapers”.

They are also seeking “a perpetual injunction restraining the GTBank from further maligning or otherwise defaming them in the words or similar words, complained of in this motion”. In addition, they prayed the court to also perpetually restrain “GTBank, its agents, privies or whomsoever from further defaming the plaintiffs”.

“22% interest on the said sums of money claimed above commencing on 22nd January 2016 till the date of the judgment and thereafter at the same rate of 22% interest until the satisfaction of the judgment debt,” Innoson Nigeria Limited prayed in the court document

See the Court Documents