The Nation Newspaper

Tag: Innoson

  • Alleged forgery: EFCC files charges against Innoson

    Alleged forgery: EFCC files charges against Innoson

    Innoson Motors chief Innocent Chukwuma and two others are to face forgery charges, it was learnt yesterday.

    The others are Innoson Nigeria Limited and Charles Chukwuma.

    The suspects will face trial in the High Court of Lagos State, Ikeja Division.

    The charge sheet, drawn up by the Head of Legal  and Prosecution at the Economic and Financial Crimes Commission (EFCC) in Lagos, A.B.C Ozioko, reads:

    “At the Criminal Division of the High Court of Lagos State at Ikeja, the Court is informed by the Executive Chairman of EFCC, on behalf of the Federal Republic of Nigeria that Innoson Nigeria Limited, Dr. Innocent Chukwuma and Charles Chukwuma are charged with the following offences:

    “Conspiracy to obtain property by false pretence contrary to Section 8(a) and 1(3) of the Advance Fee Fraud and Other Related Offences Act, No. 14 of 2006.

    “Innoson Nigeria Limited, Dr. Innocent Chukwuma, and Charles Chukwuma between 2009 and July 2011, in Lagos within the jurisdiction of this court, with intent to defraud, conspired amongst yourselves to obtain by false pretence, containers of motorcycles and spare parts and raw materials from Mitsui O. S.K. Lines Limited, Apapa, Lagos,  property of Guaranty Trust Bank Plc, Lagos”.

    Count two borders on “obtaining property by false pretence, contrary to sections1(1)(b) and 1(3) of the Advance Fee Fraud and Other Related Offences Act, No. 14 of 2006.

    The particulars of offence in count two are: “Innoson Nigeria Limited, Dr. Innocent Chukwuma, and Charles Chukwuma between 2009 and July 2011, in Lagos within the jurisdiction of this court, with intent to defraud, induced the staff of Mitsui O. S.K. Lines Limited, Apapa, Lagos and Maersk Line Limited  to deliver to you  through your clearing agents, containers of motorcycle spare parts, moulds of plastic chairs and steel structures and raw materials called polyvinylchlorid, property of Guaranty Trust Bank Plc imported  into Nigeria from China in the name of the said bank as the consignee by falsely pretending that you were authorised by the said Guaranty Trust Bank Plc to clear  the goods  and took delivery of same.

    On the third count, the suspects are charged with “stealing, contrary to Section 388 and 309(9) of the Criminal Code, Cap. C17Vol. 11 Laws of Lagos State, 2003.

    The particulars of offence are:  “Innoson Nigeria Limited, Dr. Innocent Chukwuma, and Charles Chukwuma between 2009 and July 2011, at Apapa Port, Lagos within the jurisdiction of this court, fraudulently stole containers of motorcycles and spare parts, moulds of plastic chairs and steel structures and raw materials called polyvinylchlorid, property of Guaranty Trust Bank Plc being the consignee of the said goods.”

    Regarding the fourth count, the suspects are answerable for alleged “forgery, contrary to Section 465 and 467(I) (J) the Criminal Code, Cap. C17Vol. 11 Laws of Lagos State, 2003”.

    The particulars of offence read:” Innoson Nigeria Limited, Dr. Innocent Chukwuma, and Charles Chukwuma between 2009 and July 2011, at Apapa Port, Lagos within the jurisdiction of this court,  with intent to defraud and in order to facilitate your obtaining goods by false pretence, forged bill of lading No.598286020 of Maersk Line Limited and Molu 11007950841 of Mitsui O. S.K. Lines Limited by knowingly putting a false GTB Plc stamp signature of its staff on the said bill of lading with intent that they might be used or acted upon as genuine to the prejudice of any person whether within Lagos State or elsewhere.”

    The EFCC also attached a list of 11 witnesses to the charge sheet, but no date has been fixed for the arraignment of the suspects.

  • Innoson withdraws motion against EFCC, GTB

    Innoson withdraws motion against EFCC, GTB

     The Federal High Court in Lagos on Friday granted an application by Innoson Nigeria Limited and its Chief Executive Officer/Managing Director, Mr. Innocent Chukwuma, to withdraw an ex-parte motion they filed against the Economic and Financial Crimes Commission, (EFCC) and Guaranty Trust Bank Plc.
    They had sought injunctive reliefs against the commission, Attorney-General of the Federation, the Police, the Inspector-General of Police and Guaranty Trust Bank Plc.
    Among others, Innoson alleged that his arrest and detention by the EFCC was instigated by GTBank.
    He has since been released from detention.
    When the case, filed on Thursday, came up before Justice Rabiu Hadiza Shagari on Friday, GTBank’s lawyer Adebowale Kamoru, urged the court not to hear the ex-parte motion.
    He said his client knew about Innoson’s move to get injunction against them, adding that the applicants suppressed material facts.
    Kamoru cited several judicial authorities, urging the court  to hear his client although the ex-parte motion was not formerly served on them.
    Innoson’s lawyer Prof. MacCarty Mbaduagha said he was withdrawing the application.
    He said he was instructed by his client to do.
    Kamoru did not oppose the withdrawal, following which Justice Shagari granted the application as prayed.
    The judge said: “In view of the application of the applicants’ counsel, the application is hereby granted.”
    Barely 24 hours after his arrest, EFCC on Thursday released Chukwuma on bail.
    The anti-graft agency said Chukwuma and his brother, Charles Chukwuma, were being probed for alleged N1,478,366,859.66 fraud and forgery.
    The industrialist was also accused of using forged documents to secure tax waivers.
    A statement by the Head of Media and Publicity of EFCC, Mr. Wilson Uwujaren, said: “The EFCC has released the Nnewi, Anambra-State born industrialist, Chief Innocent Chukwuma, on bail.”
  • Innoson, GTB Feud: The Untold Stories

    Innoson, GTB Feud: The Untold Stories

    Recently, the Innoson/GTBank story has gained so much media prominence, especially following the arrest of the Innonson chairman a few days ago by EFCC(Released).  Though the case is pending in court, Innoson has taken the battle to social media. There have been numerous sponsored social media campaigns against the Bank such as #BewareOfGTBank and #WhatIsWrongWithGTBank.

    The company has also gone Television, with its owner, Dr Innocent Chukwuma granting an interview to TVC, where he claimed he had obtained a judgement of N8bn against the bank. He added that the bank pleaded with him over their inability to pay, and that he graciously offered to accept shares of the bank as payment.

    GTBank on their part has chosen to remain silent on the matter, perhaps trusting in the integrity of the legal system as against playing to the gallery. A staff of the bank who spoke under anonymity, stated “Irrespective of the issues we are facing with the company, Innoson remains a customer of the bank and we owe him a duty of confidentiality and to conduct ourselves in a responsible manner towards him”.

    This statement didn’t stop us from conducting our own investigations on the matter, and below are our findings, put in bullet points for your optimum understanding.

    The obvious:

    Innoson is, and still remains, a customer of GTBank.

    What we discovered:

    1. GTBank (in 2009) granted Innoson several credit facilities (i.e loans) totalling N2,400,000,000,00 (two billion, four hundred million Naira only), to part finance working capital requirements, import new motorcycles and motorcycle spare parts, agricultural spare parts and plastic manufacturing equipment (“Imported Goods”).
    2. Under the loan terms agreed by Dr. Innocent Chukwuma on behalf of Innoson, proprietary interest in the Imported Goods was consigned exclusively in favour of the Bank. This means that the Bank was the exclusive owner of the Imported Goods.  Accordingly, the original shipping documents (i.e. the Bills of Lading) were in the custody of the Bank, and have remained in the custody of the Bank at all times.
    3. Because GTBank was the exclusive owner of the imported goods, ownership of the goods could only be transferred to Innoson (or any other third party) by the Bank. The condition in the agreement between the Bank and Innoson, for the release of the Imported Goods by the Bank to Innoson, was the payment of 25% of the value of each Letter of Credit transaction by Innoson.

    What we learnt:

    1. Innocent Chukwuma approached the Bank, on behalf of Innoson, requesting the release of the shipping documents without payment of the agreed+ 25% equity. The Bank declined his request as a result of Innoson’s failure to meet the agreed conditions.
    2. It came to the Bank’s knowledge sometime in June, 2011 that the Imported Goods for which the Bank declined to release shipping documents to Innoson in view of its failure to meet the agreed conditions, had been fraudulently procured by Innoson.
    3. The Bank discovered that Innoson, under the control of Dr. Innocent Chukwuma had forged the Bank’s endorsement on the bills of lading to the Shipping Line and fraudulently cleared the Imported Goods which were in the name of the Bank. The Imported Goods, being property of the Bank should not have been cleared from the Port without the original shipping documents being endorsed by the Bank in favour of Innoson, or any third party.
    4. The signatures of 4 (four) staff of the Bank, to wit, Taofeek Olalere, Dan Attah,   Bunmi Adeyemi and Amazu Amalachukwu, as well as the Bank’s stamp were forged on all the shipping documents used by Innoson to fraudulently clear goods at the port.  The Bank did not at any time endorse or transfer the shipping documents to Innoson, as the originals of each of the relevant Bill of Lading remain in the Bank’s custody to this very day.
    5. When the Bank reported the matter to the Nigeria Police, Dr. Innocent Chukwuma claimed the Bank released the shipping documents to him. Consequently, the Police commenced investigation into the Bank’s complaint, including a forensic examination of the disputed signatures, and established that the signatures of the Bank’s staff were forged, and the Imported Goods were fraudulently cleared from the Nigerian Ports Authority by Dr. Innocent Chukwuma and his accomplices.

    What we heard from the Police:

    1. Police investigations confirmed that Innoson and Dr. Innocent Chukwuma deliberately set out to defraud, steal from the Bank and convert the Imported Goods belonging to the Bank by deceptive means and through forgery and misrepresentation. The unlawful takeover of the Imported Goods, which served as the Bank’s collateral, left an indebtedness in excess of the sum 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) as at September 26, 2012.
    2. Chief Innocent Chukwuma was arrested and interrogated by operatives of the EFCC, following which he agreed to make monthly payments into Innoson’s account until the full liquidation of Innoson’s indebtedness to the Bank.  However, Innoson defaulted in making the agreed payments.  Investigations by the Nigeria Police following a petition by the Bank in September 2013 also found Innoson and Chief Innocent Chukwuma culpable of the criminal allegations levied against them by the Bank, and Chief Innocent Chukwuma was accordingly charged to court by the Police.

     

    1. The Police filed Charge No. FHC/L/565C/2015-Inspector General Of Police And Innoson Nigeria Limited; Innocent Chukwuma;Charles Chukwuma;Maximian Chukwura; Mitsui Osk Lines; Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to November 21, 2017 for arraignment/or hearing of motion for issuance of Bench Warrant.

    What Innoson did:

    1. Innoson approached the Bank for a reconciliation of his account and pleaded for a debt forgiveness. A reconciliation was carried out on the account – which had a debit balance of N1,654,481,895.04 as at December 31, 2011. In the spirit of amicable resolution and EFCC intervention, the Bank said it agreed to forego the sum of N559,374,072.09 which represented default charges that has accrued on the account and debited in line with the loan agreement between the customer and the Bank.

     

    1. Based on this, the Bank decided to accept from the customer, the sum of N1,095,107,822.95 as full and final payment of the customer’s indebtedness to the Bank, provided that same shall be fully paid not later than (30) days from the date of the letter written to him

     

    1. Surprisingly, Innoson commenced suit no:FHC/AWK/CS/2012 against the Bank at the Federal High Court, Awka stating the bank had debited its account with excess charges totalling N559,374,072.09 and obtained judgement in excess of N4.7Billion against the Bank. Again choosing to dishonour an agreement that was amicable reached between him and the Bank for a full and final settlement of N1,095,107,822.95 wherein the Bank graciously forgave him the sum of N559,374,072.09 which accrued on his account during the period which he abandoned his account.

     

    1. To further stall the criminal proceedings against him, Chief Innocent Chukwuma and his company instituted suits at the Federal High Court, Abuja, as well as the Federal High Court, Awka in January 2014 against The Inspector General of Police, The Nigeria Police Force and Investigating Officer(s), seeking declaratory and injunctive reliefs, including orders restraining the Police from commencing criminal proceedings against Innoson and Chief Innocent Chukwuma. Furthermore, in a bid to stall the Bank’s recovery steps, and distract the Bank from focusing on the criminal action, as well as civil actions filed for recovery of the debt, Chief Innocent Chukwuma and his company Innoson, have continued to institute various spurious suits before various courts, claiming frivolous and outrageous sums against the Bank.

     

    What GTBank is not saying:

    1. In responding to Innoson’s motion for a stay of criminal proceedings at the Court of Appeal, the Honourable Justice J.S Ikyegh on September 17,2017 dismissed the motion for being unmeritorious and ordered that proceeding in the criminal case against Innson should proceed.

     

    1. On October 12, 2017, the Police through its Charge No. FHC/L/565C/2015- filed an application for the issuance of bench warrant against Innocent Chukwuma; Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Faji J, at the Federal High Court, Ikoyi and adjourned to Decemeber 8, 2017 for arraignment/or hearing of motion.

     

    What we think:

    Innoson and GTBank should resolve the issues privately.

  • Offodile, Innoson, 11 others to receive 2017 Igbo award

    The prestigious Igbo Awards, organised by Vine Shield Limited, will hold this Friday in Enugu. Thirteen Igbo sons and daughters will be given awards for their contributions to the development of the Igbo heritage in all ramifications. They include media professionals, entrepreneurs, educationists, activists, writers, and inventors.

    Dr Innocent Ifediaso Chukwuma (Innoson) will receive the Professor Barth Nnaji Prize For Technology; two-time member of the National Assembly, Hon Chudi Offodile will receive the Igbo Political Icon Award; Aku Ruo Ulo activist Dr Greg Ibe, who will receive the Rev Professor Fr  Stan Anih Educationist Prize, and Igbo heritage proponent HRH Eze Chukwudinigbo Agwuna (Mkpume Aza Oku) will receive the Distinguished Igbo Cultural Crusader Award, among others

    Six beautiful young queens will emerge as Lolos, under the auspices of Lolo Igbo Cultural Pageant, 3rd edition, according to the organisers, Vine Shield Limited.

    The president of Alaigbo Development Foundation (ADF), Prof Uzodimma Nwala, will be the chairman of the occasion while a gubernatorial candidate in the 2015 Abia governorship elections, Dr Alex Otti, will be the keynote speaker.

    The company’s Executive Director, Onukwube Ofoelue, stated in release that the event, which will hold at Victoria Hall, New Artisan, Enugu, will be an opportunity to reward students who have participated in the National Students Igbo Essay Competition, in the secondary and tertiary category.

    Ofoelue said the resolve to recognise these enterprising Igbos was designed specifically to honor, reward and celebrate illustrious sons and daughters of the Igbo nation that have distinguished themselves in different areas of life endeavor.

    “It is designed to project the Igbo identity, promote hard work, compliment the sincerity of the Igbo nation and present them at the front burner as people with relentless zeal to succeed in any field chosen. Although these awards are targeted mainly at people with Igbo origin, it is also designed in such a way that it will create room to appreciate those who have proven to be strong allies or friends of Igbo people”.

    He further revealed that the award has been endorsed by the Enugu State Ministry of Culture and Tourism since 2015, as a viable initiative to promote Igbo consciousness.

    Other nominees include Madam Theresa Onuorah (Egedege), an Igbo traditional musician, who will receive the Igbo Traditional Artiste Award; Nelly Uchendu-Ikpeze (post-humous), proponent of modernised Igbo traditional music will receive the Distinguished Folklore Musician Award; Chief Ukie Ezeali, philanthropist will receive the Distinguished Igbo Philanthropist Award; Yvonne Chioma Mbanefo, Igbo lexicographer and digital information manager, will receive the Distinguished Igbo Writer Award; Most Rev Fr J.V. Obinna, social rights crusader and high priest will receive the Distinguished Igbo Clergy Award; Mrs Mary Ikoku, media strategist and publisher, will receive the Distinguished Igbo Media Personality; transporter Frank Nneji (ABC Transport) will receive the Distinguished Igbo Entrepreneur Award; communications guru Anthony Kanayo Onwordi (Toni Kan) will receive the Distinguished Igbo Communications Personality Award; and politician and lawyer Uche Okwukwu will receive the Distinguished Igbo Human Rights Personality Award.

     

  • INNOSON backs DICON to produce military hardware

    INNOSON Group is willing to collaborate with the Defence Industries Corporation of Nigeria (DICON) to meet the ordnance needs of the armed forces and other security agencies, its chairman, Dr. Innocent Chukwuma, has said.

    He spoke when he visited DICON headquarters and the Ordnance Factory with his chief engineer and other experts in his industry for an on the spot assessment of DICON’s facilities.

    His word: “DICON will surely not remain the same after this collaborative effort must have come to fruition. I am a Nigerian and I have great passion for the quick industrialisation of my country. I am highly optimistic if DICON moves well, Nigeria will also move well because it occupies a very strategic position in our collective efforts to move the nation forward in terms of local production of what we need.”

    According to the firm chairman, Nigeria has something on ground to win respect of “other global competitors, who would be ever ready to make our nation a dumping ground for their finished products, if only we would take the bull by the horn to develop what we have”.

    Chukwuma stated that his visit to DICON was not in pursuit of money but interest of his beloved country.

    He stressed that the growth of Nigeria’s potentials occupies a central place in his heart rather than pursuit of money.

    DICON Director General Maj-Gen. Bamidele Ogunkale noted that the corporation, through the ingenuity of its technical workers, complimented by an array of functional machines at the corporation’s Ordnance Factories, was able to refurbish assorted weapons back-loaded to the corporation for repairs from military theatre of operations across the country.

    He added that some challenges such as obsolete equipment in some areas, lack of spares, necessitated his efforts in approaching some selected industries in the eastern part of Nigeria of which Innoson Group was number one.

  • Innoson decries smear campaign against firm

    Innoson decries smear campaign against firm

    Innoson Group, Nigeria’s foremost indigenous motor manufacturing company has raised the alarm over what it described as sponsored and calculated smear campaign against it and its Executive Chairman, Dr Innocent Chukwuma, by some unscrupulous interest group.

    In a statement signed by Mr. Cornel Osigwe, Public Relations and Media Manager of Innoson Group, the company said that contrary to report sponsored in the media to bring the name of the company and its promoter into disrepute, no new case was filed against it by the current Inspector General of Police, Mr. Ibrahim Idris.

    Citing a letter dated February 17, 2016, the firm stated that the police had filed a notice of withdrawal of the case since February when the police got the full details of the matter, which is a business matter between Innoson Nigeria Limited and Guaranty Trust Bank.

    In the statement which reads in part, the company said: “We are constrained to respond to fictitious news published recently by some news media channels purporting that the Inspector-General of Police, Mr. Ibrahim Idris, filed four counts of alleged N2.4bn shipping fraud against Innoson Nigeria Limited before a Federal High Court in Lagos.”

    The company said it decided to respond to the malicious publication because it was aimed at maligning the reputation of Dr Chukwuma on the same period he was playing host to his strategic Chinese business partners with whom he visited Vice President Yemi Osinbajo at the State House, Abuja.

    The Nation reliably gathered that at issue is that GTB had imposed excess and unlawful charges running into billions of naira on Innoson Nig Ltd’s current account with it just as it alleged that the bank fraudulently appropriated these billions of naira from Innoson’s account.

    As a result, Innoson commenced suit No: FHC/AWK/CS/139/2012 against GTB and therein got judgment in excess of N4.7billion against GTB. GTB appealed against the judgment to the Court of Appeal, vide, Appeal No: CA/E/288/2013. There, the Court of Appeal ordered GTB to pay over N6billion, being the judgment with the accrued interest.

    Separately, in another case, suit No: FHC/L/CS/603/2006, the Federal High Court ordered GTB to pay over N2.4billion to Innoson. GTB appealed against this judgment/order in Appeal No: CA/I/258/2011. However, Court of Appeal dismissed the appeal and ordered GTB to pay the N2.4billion to Innoson.

    Finding no justifiable way of getting Innoson to abandon the aforesaid judgments, which as at today is over N10billion, given the post-judgment interest, or to let it pay a lesser sum to Innoson, GTB instigated the Police to initiate a trumped-up charge – Charge No: FHC/L/565c/2015 against Innoson Nig Ltd. This charge was filed on 21st December 2015. However, when the Inspector General of Police discovered that the charge was a trumped-up one – a ruse – he withdrew the charge through its Notice of Withdrawal dated 17th February 2016 and adequately filed in the court (a copy of the notice of withdrawal is attached herewith).

    Subsequently, the Inspector General of Police urged the Court to strike out the charge, but for some strange reasons the court adjourned the matter rather than strike it out. After this but before the next adjourned date, Mr. Diri – the former Director of Public Prosecution, Federal Republic of Nigeria – wrote a letter claiming that the Attorney General of the Federation had taken over the case.

    The said letter which was back-dated was never initialled by the Registrar or any officer of the Court nor filed at the Court’s Registry as required by law and practice was rather smuggled into the case file. This letter, coupled with other activities of Mr. Diri, led to his being relieved of his post as the Director of Public Prosecution.

    “As it is now, the Inspector General of Police, whether former or present, has not filed any new charge against Innoson Nigeria Ltd and its managing director and Mr. J. I. Ajakaye who apparently is acting without any authority is not a Police Officer. The matter came up on Monday, 24th October, 2016 for the presiding judge to excuse himself from presiding over the charge and for same to be struck out having been withdrawn. Mr. Ajakaye never and did not serve any charge on the counsel representing the defendants in the matter. A charge is an originating process and can only be served on a defendant and not his lawyer. Again, Innoson’s lawyers do not have its instructions to accept any originating process including a charge on its behalf.”

  • Innoson decries smear campaign against firm

    Innoson decries smear campaign against firm

    Innoson Group, Nigeria’s foremost indigenous motor manufacturing company has raised the alarm over what it described as sponsored and calculated smear campaign against it and its Executive Chairman, Dr Innocent Chukwuma, by some unscrupulous interest group.

    In a statement signed by Mr. Cornel Osigwe, Public Relations and Media Manager of Innoson Group, the company said that contrary to report sponsored in the media to bring the name of the company and its promoter into disrepute, no new case was filed against it by the current Inspector General of Police, Mr. Ibrahim Idris.

    Citing a letter dated February 17, 2016, the firm stated that the police had filed a notice of withdrawal of the case since February when the police got the full details of the matter, which is a business matter between Innoson Nigeria Limited and Guaranty Trust Bank.

    In the statement which reads in part, the company said: “We are constrained to respond to fictitious news published recently by some news media channels purporting that the Inspector-General of Police, Mr. Ibrahim Idris, filed four counts of alleged N2.4bn shipping fraud against Innoson Nigeria Limited before a Federal High Court in Lagos.”

    The company said it decided to respond to the malicious publication because it was aimed at maligning the reputation of Dr Chukwuma on the same period he was playing host to his strategic Chinese business partners with whom he visited Vice President Yemi Osinbajo at the State House, Abuja.

    The Nation reliably gathered that at issue is that GTB had imposed excess and unlawful charges running into billions of naira on Innoson Nig Ltd’s current account with it just as it alleged that the bank fraudulently appropriated these billions of naira from Innoson’s account.

    As a result, Innoson commenced suit No: FHC/AWK/CS/139/2012 against GTB and therein got judgment in excess of N4.7billion against GTB. GTB appealed against the judgment to the Court of Appeal, vide, Appeal No: CA/E/288/2013. There, the Court of Appeal ordered GTB to pay over N6billion, being the judgment with the accrued interest.

    Separately, in another case, suit No: FHC/L/CS/603/2006, the Federal High Court ordered GTB to pay over N2.4billion to Innoson. GTB appealed against this judgment/order in Appeal No: CA/I/258/2011. However, Court of Appeal dismissed the appeal and ordered GTB to pay the N2.4billion to Innoson.

    Finding no justifiable way of getting Innoson to abandon the aforesaid judgments, which as at today is over N10billion, given the post-judgment interest, or to let it pay a lesser sum to Innoson, GTB instigated the Police to initiate a trumped-up charge – Charge No: FHC/L/565c/2015 against Innoson Nig Ltd. This charge was filed on 21st December 2015. However, when the Inspector General of Police discovered that the charge was a trumped-up one – a ruse – he withdrew the charge through its Notice of Withdrawal dated 17th February 2016 and adequately filed in the court (a copy of the notice of withdrawal is attached herewith).

    Subsequently, the Inspector General of Police urged the Court to strike out the charge, but for some strange reasons the court adjourned the matter rather than strike it out. After this but before the next adjourned date, Mr. Diri – the former Director of Public Prosecution, Federal Republic of Nigeria – wrote a letter claiming that the Attorney General of the Federation had taken over the case.

    The said letter which was back-dated was never initialled by the Registrar or any officer of the Court nor filed at the Court’s Registry as required by law and practice was rather smuggled into the case file. This letter, coupled with other activities of Mr. Diri, led to his being relieved of his post as the Director of Public Prosecution.

    “As it is now, the Inspector General of Police, whether former or present, has not filed any new charge against Innoson Nigeria Ltd and its managing director and Mr. J. I. Ajakaye who apparently is acting without any authority is not a Police Officer. The matter came up on Monday, 24th October, 2016 for the presiding judge to excuse himself from presiding over the charge and for same to be struck out having been withdrawn. Mr. Ajakaye never and did not serve any charge on the counsel representing the defendants in the matter. A charge is an originating process and can only be served on a defendant and not his lawyer. Again, Innoson’s lawyers do not have its instructions to accept any originating process including a charge on its behalf.”

  • My goal is to push Tokunbo cars out of Nigeria -Innoson chair Chukwuma

    Chief Innocent Chukwuma is the Chairman and Chief Executive Officer of Innoson Group of Companies, a local car manufacturer who has been canvassing for Nigerians to patronise and drive made-in-Nigeria cars.   In this interview with COLLINS NWEZE, he speaks on the need to patronise local manufacturers, why Nigerians do not deserve to ride second hand vehicles and the need for government to support local manufacturers to grow the economy, among other issues.

    What is it that has kept you in business up till now, especially with the exit of many multinational companies from the country?

    This is not necessarily correct. While a few companies have moved to neighbouring countries, others are increasing their level of investment and some others are coming in, so we have to balance out.

    One would have expected you to site your company in places like Lagos or Port Harcourt. Why is your business concentrated in Nnewi?

    I am from Uru village, Nnewi. I have lived all my life at Nnewi. I do my business at Nnewi. I have not left Nnewi for any other place. Up till now, Nnewi is still the headquarters of my chains of businesses. I started my business at Nnewi. I grew my business to what it is today at Nnewi. I came to Enugu because of the factory that I sited here. Nnewi remains my main base.

    At what point did you venture into vehicle manufacturing?

    After the success recorded with the motorcycles, we thought it wise to go further by venturing into the manufacturing of various types of vehicles. We started this venture in 2010 and since then, we have been enjoying the patronage of some state governments as well as some agencies of the Federal Government, which appreciate what we are doing to industrialise the country.

    Why vehicle manufacturing?

    We discovered that Nigeria was fast becoming a nation where her citizens celebrate second hand vehicles. This is very unfortunate because this is not us. By our nature, Nigerians are very proud. No Nigerian will go for anything second hand if not for the economic situation we have found ourselves. I am not saying that we no longer buy new vehicles in Nigeria because Nigeria is where you get the latest make of any vehicle, but you will agree with me that only few wealthy Nigerians and organisations buy new vehicles.

    But we realised that Nigerians embrace used cars not because they don’t like new cars but because they cannot afford it. So, we asked ourselves, why is it that new cars are expensive? And we realised that they are expensive because the cost is dictated by exchange rate fluctuations. So, we decided that we were going to go into the manufacturing of vehicles locally to ensure we provide our people with the opportunity of driving new vehicles at a cost that is favourable to them.

    Recently,  you signed a Memorandum of Understanding with Sterling Bank Plc for the finance of vehicles for your customers. What is this all about?

    Let me start by commending Sterling Bank for taking this bold initiative. It is rare to see a financial institution that will take this bold step to provide finance for people who are interested in buying vehicles made in Nigeria. To have also partnered with us, Sterling Bank has demonstrated the fact that it has a lot of confidence in this country and is willing to support the growth of the local economy.

    If you are talking about the promotion of made in Nigeria, Sterling Bank will readily come to mind as a pioneer supporter in this country. This development will boost the local economy as an increase in sales will lead to business expansion. Besides this, more local entrepreneurs will be encouraged to establish businesses in the country as we have done. I will request that other financial institutions in the country take a cue from this and support the local manufacturers.

    What is this partnership all about?

    Sterling Bank Plc and Innoson Vehicle Manufacturing Company Limited entered into an auto-finance promotional partnership whereby the bank will provide finance leases for customers that wish to acquire Innoson brand of vehicles. As stated earlier, we specialise in the manufacturing of made in Nigeria vehicles such as Sport Utility Vehicles (SUVs), luxury buses, saloon cars, and trucks.  All the vehicles are of world class standard and are affordable.

    Are governments at all levels are doing enough to support local manufactures?

    Yes, they are supporting us but they need to do more. I am proud to say that some state governments are already patronising Innoson and same with few government parastatals.  I want to assure you that Nigerian government believes in what we are doing at Innoson and that is why we are getting their patronage.

    But would you say that Innoson vehicles can compete favorably with other vehicles?

    Innoson’s range of vehicles are everywhere and l can assure you that they compete favourably with any other imported brands. Our after sales service is also excellent. With the partnership with Sterling Bank, our range of vehicles will become more visible than before. I drive Innoson SUV to prove that it is one of the best in the world. I know what people want in SUV and I added a few extras to give Innoson SUV an advantage. My dream is to push towards making second hand vehicles (popularly called Tokunbo cars) unattractive in Nigeria. You saw how Tokunbo motorcycles became extinct? Is anybody talking about it anymore? The only thing that it will take for Tokunbo cars to disappear from Nigeria is price. Make it cheap and affordable; make the spare-parts available and Tokunbo will go. Who will like to buy an old car when he or she can spend less to buy a brand new one?  We must make new vehicles cheap so that Tokunbo cars will become a thing of the past in the nearest future.

    We have received a lot of awards and recognitions but I will just mention a few. We received a Special Merit Award; Nigerian Shippers Council South East 2009; Motorcycle Brand of the Nigerian Automotive Manufacturers Association (NAMA) 2009; MANCAP Award of Excellence by the Standards Organisation of Nigeria (SON) in 2008; Best SME Africa Award by the Common Wealth Business Council in 2008; Special Presidential Merit Award by Nigerian Society of Engineers December 2011; Hall of Fame Award by Bank of Industry to Innosson Technical and Industrial Company Ltd in recognition of the company’s excellent and exemplary credit record – October 17, 2014 and many others.

    How would you describe yourself?

    I will just say that Innocent Chukwuma (Innoson) is a resourceful and accomplished entrepreneur of international repute.

    l have received many awards in appreciation of what our company is doing to support the growth of the economy. For instance, I was given the recognition of Justice of Peace by Enugu State Government in 2006; awarded the Industrialist of the Year by the Nigerian Union of Journalists (NUJ) Enugu State in 2006; Meritorious Award by the Nigerian Society of Engineers (NSE) in 2008; granted Award of Excellence by the Manufacturers Association of Nigeria (MAN) in October 2008; conferred the National Honour of the Officer of the Order of the Niger (OON) in December, 2008 by President Umaru Musa Yaradua, GCFR, among others.

  • Innoson sues bank

    Innoson sues bank

    Innoson Motors Nigeria Limited is locked in a legal battle with the Guarantee Trust Bank (GTB) gulping billions of naira.

    The motor manufacturing company has instituted a N30 billion suit against GTB, following alleged damages the company suffered as a result of an ex parte order of Mareva Injunction, which GTB applied and obtained, freezing Innoson’s accounts in all the banks in Nigeria.

    However, on June 10, Justice Saliu Saidu of the Federal High Court, Lagos, in a considered ruling set aside the ex parte order of September 1, 2014 and the writ of summons as well.

    The running legal battle between Innoson and GTB started when Innoson challenged the action of the Nigeria Customs Service for auctioning its goods.

    In a Garnishee Order Absolute, the court had ordered GTB to pay Innoson N2,048,737,443.67 from the Customs account.

    Rather than comply with the Garnishee Order Absolute of the court, GTB on February 6, 2015 appealed the judgment, but the Court of Appeal in Appeal no. CA/1/258/2011 affirmed the judgment of the Federal High Court and ordered GTB to pay the judgment debt of N2,048,737,443.67 to Innoson.

    GTB, instead, appealed to the Supreme Court against the Court of Appeal’s decision.

    In another suit, Innoson sued GTB for imposing excess and unlawful charges on the company’s account with the bank amounting to N559 million.

    The trial court gave a N4.7 billion judgment in favour of Innoson.

    GTB appealed the judgment of the Awka High Court, but the Court of Appeal, Enugu Division, upheld the judgment and ordered GTB to pay the judgment debt, which stood at over N5.7 billion, into an interest-yielding account in the name of the Chief Registrar of the Court of Appeal.

    GTB has appealed to the Supreme Court.

    The lingering legal tussle will soon be decided by the apex court.

     

  • Innoson out with N1.5m cars

    Innoson out with N1.5m cars

    Low and middle class Nigerians desiring to drive brand new cars would have their dreams realised in no distant future

    Innoson Group of Companies, manufacturers of cars, buses, tankers and other products, would as from 8, August introduce brand new cars into the Nigerian automobile market at the cost of N1.5million only.

    The chairman and chief executive of the company, Mr. Innocent Chukwuma who announced this in Enugu yesterday said the cars which would be fully air conditioned with every other gadget were made for most Nigerians to have access to brand new cars.

    The costliest of the coming cars, according to him, would be bought at N3.5million.

    Chukwuma who was speaking at the road show organized  by Empower Nigeria at the Enugu campus of the University of Nigeria, Nsukka was narrating to the students of the university how he started venturing into diversified enterprise.

    “I will launch my own cars in about two weeks time. And the cars will cost between N1.5million and N3.5million, depending on the cadre,” he assured.