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Breaking! Court Issues Arrest Of Innoson Chairman Over Absence From Trial

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Lagos High Court sitting in the Ikeja area of the state has issued a warrant for the arrest of the Chairman of Innoson Motors Limited, Innocent Chukwuma for failing to appear before the court to face his trial.

Justice Mojisola Dada this morning ordered that Mr Chukwuma should be arrested and brought to court on the next adjourned date of March 14.

Chukwuma was arrested in December last year following his refusal to honor an invitation by the Commission having earlier jumped an administrative bail granted him in a case being investigated by the Capital Market and Insurance Fraud Unit of the Commission’s Lagos office.

Last year Innoson, EFCC, and GTBank where involved in a case together, Chief Innocent Chukwuma had claimed that GTB withdrew from his account the sum of N559,374,072.09 in excess charges. It was on the basis of this claim that Innoson acquired judgment to the tune of N4.7bn from the Federal High Court Awka.

At first glance, one could assume the bank debited funds in Innoson’s account but in the real sense, the N559m represent the interest portion of the N2.4bn loan that he took from the Bank.

In December 31, 2011, Innoson’s account with the bank was in debit of N1,654,481,895.04 (one billion, six hundred and fifty-four million, four hundred and eighty-one thousand, eight hundred and ninety-five Naira, four Kobo only).

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