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EFCC arrests founder of Innoson Motors

Innoson Motors founder and boss, Innocent Chukwuma

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EFCC arrests founder of Innoson Motors

Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested Innocent Chukwuma, the founder and chairman of Innoson Motors, according to a statement by company spokesperson, Cornel Osigwe.

The arrest reportedly took place at Chukwuma’s Enugu residence at about 9am on Tuesday.

What’s happening:

According to Osigwe, the arrest is in connection to the ongoing case Innoson has with GTBank.

He said Chuwkwuma was accused of jumping bail, but wondered how he could be accused of doing that when he was never invited.

“He was never invited by the EFCC, we challenge them to come forward with any evidence showing that he jumped bail,” Osigwe said. “This is GTBank using federal authorities to persecute an illustrious citizen who has done a lot to improve the economic development of this country.”

GTB response:

The bank, through a spokesperson, Meksley Nwagboh, has denied involvement, saying the EFCC which arrested Chukwuma “will be in a best position to comment on the reason for his arrest.”

Back story:

Innoson and GTB have had thus dispute since 2012 when the car company reportedly discovered that GTB imposed and debited its current account with over N700 million excess and unlawful charges.

The bank refused to refund the N700 million to the company which led to a court suit. Innoson won in court with a judgment awarding the “sum of N4.7 billion with 22% interest on the judgment debt until satisfaction of the judgment debt in favour of Innoson against GTB.”

According to Innoson, the High Court ruling was upheld by the Ibadan Division of the Court of Appeal.

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