Innosun Nigeria limited has gotten a writ fifa from the fedral Hight court seating in Awka, Anambra state.

A writ of Fifa means that Innosun limited has been given the authority by a high court to take over any estate belonging to Guaranty Trust Bank which they deem fit would clear up the huge sum they owe Innosun.

A Fedral High court in Ibadan five years ago had ordered GTB by way of garnishee order absolute to pay the sum of N2.4billion to Innosun with a 22% interest per annum which to date has incured an interest of about N6,717,909,849.96.

GTB appealed this order at the supreme court but according to Innosun’s report the supreme Court dismissed the appeal and held the previous decision by the Fedral high court.
The statement read below:

“The chairman of Innosun, Chief Dr. Innocent Chukwuma,OFR has through a writ Fi Fa taken over Guaranty Trust Bank PLC for and on behalf of Innoson Nigeria Limited”
“In a landmark decision on February 27th 2019, the supreme court of Nigeria had dismmised GTB’s appeal in a suit number SC.694/2014 – against the Judgement of the court of Appeal, Ibadan Division.

Counsel to Innosun, Prof McCarthy Mbadugha ESQ, approached the Fedral High Court Awka Division for leave to enforce the Judgement from the Ibadan Division of the Highcourt.

Chariman of Innosun states that they have been able to take over GTB branches at Nnewi and awka adding that more branches will be added until they are able to recorver what they are being owed.