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GTbank Vows ” Innoson Motors Cant Takeover Our Bank^

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Top Nigerian financial institution, Guaranty Trust Bank  has revealed that it will take legal steps to ensure that no illegal or fraudulent execution is carried out by Innoson motors, with whom it has a long-drawn-out court case.

On Friday, Innoson Nigeria Limited announced that it obtained a writ of Fifa from the Federal High Court in Awka, Anambra State, against GTB to effect the judgment given by the Federal High Court in Ibadan and upheld by the Supreme Court of Nigeria.

Cornel Osigwe, the Head of Corporate Communication of Innoson, made the announcement, saying: “The Chairman of Innoson Group, Chief Dr. Innocent Chukwuma, OFR has through a Writ of FiFa taken over Guaranty Trust Bank PLC for and on behalf of Innoson Nigeria Ltd as a result of the bank’s indebtedness to Innoson Nigeria Ltd. In a landmark decision on February 27th 2019, the Supreme Court of Nigeria dismissed GTB’s appeal — SC. 694/2014 — against the judgment of Court of Appeal, Ibadan Division.”

“We have taken over GTBank in Awka and Nnewi,” Osigwe subsequently announced, adding that “other branches are coming soon”.

However, the bank has moved to assure its customers of the safety of their funds, clarifying that the said judgement is applicable to the account of the Nigerian Customs Service Board domiciled with the bank, rather than the bank as an entity.

“The attention of Guaranty Trust Bank PLC (“the Bank”) has been drawn to statements circulating in the news and social media in respect of a purported enforcement of a judgement of the Federal High court, Ibadan, Oyo state, at one of its branches in Anambra state,” it said in a statement on Friday night.

“The Bank as a law-abiding corporate citizen is taking all necessary legal steps to address this situation and ensure that no illegal or fraudulent execution is carried out.

“It is important to state that the Judgment allegedly in issue is in respect of a Garnishee Proceedings against the account of the  Nigerian Customs Service Board domiciled with the Bank and not against the Bank as an entity.

“The Bank remains committed to providing best-in- class customer experience to all its valued customers.”

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Insecurity: Akpabio Begs Tinubu to Reinstate Police Orderlies for NASS Members

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Senate President, Godswill Akpabio, has appealed to President Bola Tinubu to reconsider the directive withdrawing police orderlies from members of the National Assembly, citing safety concerns.

Akpabio made the appeal during the presentation of the 2026 budget to a joint session of the National Assembly, by President Tinubu, warning that some lawmakers fear they might be unable to return home safely following the withdrawal.

His said: “As we direct the security agencies to withdraw policemen from critical areas, some of the National Assembly said I should let you know they may not be able to go home today.

“On that note, we plead with Mr. President for a review of the decision.”

President Tinubu, on November 23, ordered the withdrawal of police officers attached to Very Important Persons (VIPs), directing that they be redeployed to core policing duties across the country.

According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tinubu issued the directive after a security meeting with Service Chiefs and the Director-General of the Department of State Services (DSS) following heightened security issues in the country.

Under the order, VIPs requiring security are to seek protection from the Nigeria Security and Civil Defence Corps, as the Federal government seeks to boost police presence in communities, particularly in remote areas grappling with insecurity.

Tinubu later reaffirmed the directive on December 10, moments before presiding over the Federal Executive Council, expressing frustration over delays in implementation.

He instructed the Minister of Interior, Olubunmi Tunji-Ojo, to work with the Inspector-General of Police (IGP), Kayode Egbetokun, and the Civil Defence Corps to immediately replace withdrawn escorts to avoid exposing individuals to danger.

“I honestly believe in what I said…It should be effected. If you have any problem because of the nature of your assignment, contact the IGP and get my clearance,” Tinubu said.

“The minister of interior should liaise IG and the Civil Defence structure to replace those police officers who are on special security duties.

“So that you don’t leave people exposed,” he said.

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Defence Gulps Lion Share As Tinubu Presents N58.47trn 2026 Budget to NASS

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President Bola Tinubu has presented a budget of N58.47 trillion for the 2026 fiscal year to a joint session of the National Assembly, with capital recurrent (non‑debt) expenditure standing at N15.25 trillion.

Tinubu presented the budget on Friday, pegging the capital expenditure at N26.08 trillion and putting the crude oil benchmark at US$64.85 per barrel.

He said the expected total revenue is N34.33 trillion, projected total expenditure: N58.18 trillion, including N15.52 trillion for debt servicing. The budget is N23.85 trillion, representing 4.28% of GDP.

The budget was anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of N1,400 to the US Dollar for the 2026 fiscal year.

In terms of sectoral allocation, defence and security took the lion’s share with N 5.41 trillion, followed by infrastructure at N3.56 trillion.

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Mike Adenuga, Emmanuel Macron Hold High-Powered Meeting in Paris

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Accomplished billionaire businessman and Commander of the French Légion d’Honneur, Dr. Mike Adenuga Jr., GCON, CdrLH, has held a private meeting with the French President, Emmanuel Macron.

The two powerful citizens of the world held the meeting on Wednesday at the historic Élysée Palace in Paris.

The high-level engagement underscores the longstanding relationship between Dr. Adenuga and the French Republic, as well as his continued relevance in global business and diplomatic circles. 

A respected industrialist and philanthropist, Adenuga has been widely acknowledged for his contributions to economic development, telecommunications, energy, and humanitarian causes across Africa and beyond.

The meeting adds to Dr. Adenuga’s growing profile as a bridge between African enterprise and international leadership.

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