The various successive government in Nigeria have been clamouring for private sector participation at encouraging locally manufactured products in the country but things seems not to be going well after all.
Some entrepreneurs have been complaining that as good as it might sound for locally made products to grow in the country, banks on their part are not helping matters considering the high rate of interest they place on the money intended to be borrowed.
Such is the case of CEO of Innoson motors, Dr Innocent Chukwuma, who is currently being threatened by GT Bank over case which is still in court.
According to updated reports by one of Nigeria’s social commentator who has been following the event between the bank and Innoson motors, Adeyanju Deji, shared pictures of the Bank alleging to have bribed the Police as they stormed the residence of the business mogul in Enugu.
According to the various shared tweets by Deji, “Innoson Motors took a loan with @gtbank. They over deducted by over 700m. He took them to court. Court ordered them to pay 2.8B based on accumulated interest. They went to appeal and lost on appeal. They are at the Supreme Court. The accumulated fee as at today stands at over 6B. @gtbank has been bribing officials to evade paying.
“Then there is another judgement he got against Nigeria customs for selling his goods illegally. @gtbank was also supposed to pay. They have appealed. Instead of obey the courts, @gtbank resorts to intimidation & frustrating Innoson. @gtbank mobilized dozens of policemen to pick him up but he is resisting arrest so far with the help of locals in his home in Enugu. Innoson Motors is doing a lot for Nigeria but we are in a country where if the cabals of the day don’t like your face, you must go down.”