‘GT Bank’s Actions Is Crippling My Company’s Operations’ CT. Com’s CEO Onanuga Tells Court
MONROVIA – The Judges of the Commercial Court at the Temple of Justice in Monrovia Eva Mappy Morgan, Chan-Chan A. Paegar, and Othello S. Payman have granted Guaranty Trust Bank (GT Bank) application for Continuance in a $US7 million case.
GT Bank was dragged to court by Liberian Businessman Christopher Hayes Onanuga, the Chief Executive Officer of CT. Com Liberia Limited for Action of Damages for Wrong in 2019.
Speaking from the court Wednesday, April 5, 2023, Judge Morgan said, “The foundation for continuance being founded in Law. That the request and based on the ill health of the counsel for defendant in these proceedings and the counsel for the plaintiff conceded to the soundness of the application, same is granted and further proceedings of this matter are ordered stay until Wednesday, April 12, 2023, at 10 A.M.”
The Judge furthered that all parties must be present; adding that the minutes of the court shall serve as a notice of assignment.
It can be recalled on Wednesday, January 19, 2022, by the Chief Executive Officer of CT. Com Liberia Limited took the stand as the first witness to testify on behalf of the company.
He explained that he was notified through an email from GT Bank in June 2019, that the account of CT. Com Liberia has been frozen.
According to him, attached to the email was a court order which states “Proceed to the Guaranty Trust Bank and freeze the account of Chris Onanuga”.
He added that several attempts were made to have the bank understand that they were in the error of the Court’s order which had been verified at the time and was in no way connected to the company.
The CEO noted that despite efforts made to rectify said error, the account of the company was frozen without justification, leading the company’s board to seek redress through a legal process at the Commercial Court.
Mr. Onanuga in his testimony revealed that the situation came about when the bank took seized an account owned by an individual named Chris Onanuga whose name is quite different from his as the Chief Executive Officer of CT. Com Liberia Limited; and as such the company’s account was linked as a result of the names.
He added that the action of the bank has paralyzed the company’s workings and placed dark clouds over it and brought the company to public ridicule.
The CT Com Boss further stressed that the company has suffered many losses as a result of the action taken by the bank; adding,” The action of the freezing has paralyzed the company in many ways, which till date the company still suffers humiliation and losses where her image was so small in the public for many months and social media, newspapers, radio, and television “.
CEO Onanuga added that his company was accused of being involved in widespread fraud and money laundering; stressing that press conferences were held and the company’s image was dented in the presence of reputable individuals who could have been potential clients.
He maintained that the company has suffered financial losses which have crippled the company, thus leaving staff unpaid for months and daily operations on a go slow due to the action of GT Bank Liberia Limited.
Meanwhile, on Wednesday, April 12, 2023, at 10:00 AM the Chief Executive Officer of CT-COM Liberia Limited will continue with his testimony, which he began in January of last year.