Innoson Sues GTB, Demands N30bn Damages

Innoson Vehicle Jeep

Automobile manufacturing company, Innoson Nigeria Limited has slammed a N30 billion suit on Guaranty Trust Bank (GTB) Plc before the Federal High Court sitting in  Anambra State over loses it suffered as a result of the freezing of its accounts in 15 different banks by a court order obtained by GTB.

Innoson Nigeria Limited and three other companies in the conglomerate, Innoson Technical and Industrial Company, Innoson Vehicle Manufacturing Company, and Innoson Autoparts Manufacturing Company, are specifically claiming  N20billion being special damages arising from the bank's unlawful freezing of the companies accounts from 1st of September 2014 to 15th of June, 2015.

The companies are also claiming N5billion for reputational and injuring the companies and another N5billion as general damages.

They also want a 22 per cent interest on the sum claimed till judgement is delivered.