That Fallacy That GTBank Hates Innoson And Ndigbo

By Ikenga Chronicles January 3, 2018

— Churchill Okonkwo

At the peak of the Innoson-GTBank saga last December, a friend challenged me to “find the courage to write about the travails of Innoson.” Another good friend poked me on Facebook to respond to a trash from the lunatic FFK. Before I could think, one angry Igbo man Okwy, accused some of us he referred to as “Igbo pan-Nigerians”, of watching as our “race is being destroyed.” So, I spent part of my Christmas thinking of an appropriate and measured response.

While I completely understand the concerns of Igbos in the current Nigerian political atmosphere riddled with suspicion, I am afraid that we are swallowing hook, line and sinker this fallacy that GTBank hates Innoson and Ndigbo. Here is the irony of the whole saga; The Directors of GTBank “who are mainly Yorubas” were so wicked and hate Ndigbo so much so that in 2009, they granted Dr. Innocent Chukwuma, Innoson loans totaling N2,400,000,000,00 (two billion, four hundred million Naira). Surely, they want his car business to crumble.

Innoson And GTBank

As an analyst, it is my job to make sense of things devoid of beclouded sentiment of ethnicity and religion. Think about it slowly; Innoson accepted a big loan at a terrible rate from an “enemy bank” when he could have obtained such facilities from an “Igbo Bank” at a better rate? While the going was good and Innoson was making all the profits, he never told Ndigbo that a Yoruba GTBank was after his business. It was only after the transaction went sore that Ndigbo were dragged into this logical fallacy that a Yoruba GTBank hates us and Innoson.

Every Onye Igbo that fell for that crap lost his objectivity by playing the ethnic card. While we whine and wasted time on irrelevant hatch tags, Innoson remains a customer of GTBank, enjoying a loan facility, he obtained at an interest rate Igbo business men can only dream of. By crying wolf, we raise the ethnic temperature and arouses the long-aged suspicion that the Yorubas and Igbos will never do business together.

51 years On! What Lessons And Gains?

We waste time and resources discussing ethnicity rather than how to help Innoson promote his business in Nigeria. Every day, we watch Dangote makes deals with state governments as he expands his business empire across Nigeria. But as Ndigbo, we go to social media and poison the minds of state governments in the West and North that Innoson should be wooing to buy his cars. Is that not dumb politics? Do we really understand the Nigerian political landscape?

More importantly, the reduction of complex banking transaction related disagreement to ethnic bias is demonstrably wrong. Ndigbo do not have that luxury to play the ethnic card when we are sure we will be a big loser. If we don’t trust, or at least pretend to trust other ethnic groups that we do business with in multicultural Nigeria, they won’t trust us. And there lies the danger of putting on an ethnic lens while analyzing the Innoson GTBank saga.

The rest of Nigerians are wondering how this drama took a downward spiral to ethnic hatred and mistrust. Nigerian banks are notorious for illegal charges and deductions that know no tribe or religion. There are hundreds of thousands of Ndigbo and Nigerian of other ethnicities with credit facilities with GTBank and other banks in Nigeria. Whatever benefit or headache that may have resulted in acquiring such loans are not misinterpreted with tribal sentiments.

Igbo Quit Notice: An Idea So Terrible It’s Awesome

Innoson Group of Companies needs the support of Nigerian states, federal governments, the Senate as well as federal and state houses. These arms of Nigerian government spend billions on foreign SUVs and other cars and should be lobbied to channel such monies to an indigenous company like Innoson. Such partnership will not materialize if Ndigbo engage in the promotion of the fallacy that the Yorubas and Hausas are not happy because Innoson is Igbo.

There are so many billionaires in Nigeria owing billions to banks and defaulting in their agreed payment plan. I don’t know any of them that have gone to social media to cry foul. Most importantly, the tribe’s men of these business men have never gotten involved in a matter that is none of their business to begin with. I am not so sure what point we want to put across by engaging in this social media drama. Ndigbo should not put sand in Innoson’s gari just as Hausa people did not put sand in Dangote’s sugar.

A Restructured Nigeria Might Survive According To Ohaneze General Secretary

To my good friend Ugochukwu, here is how Ndigbo should help Innoson aspire “to greater height in his business”. First, we have to realize that we are not helping him by propagating fallacies that will harm his business operations in Nigeria. How do we think Dangote got to where he is today? By peddling lies against banks that he owes billions? By using Hausa people to blackmail Jonathan and Obasanjo? Common guy! This is still a bloody third world country where survivability of big business needs the full support of government.

Ndigbo Will Conquer And Rule In Oduduwa Republic

Secondly, Ndigbo should put pressure on the Enugu State and Anambra State governments to provide enabling environment and infrastructure for Innoson’ manufacturing plants to thrive. That’s how to encourage other Igbo businesses to invest in Igbo states. Also, Innoson should lobby the PDP and APC governors, senators, and ministers etc. from Igbo states to have their colleagues to patronize his business.

The good news is that Innoson knows that he needs the federal and state governments to succeed. While Ndigbo are dwelling in imaginary misery; blaming Buhari and gossiping that his administration hates Innoson and Ndigbo, he (Innoson) thanked the federal government for their support. While we are closing our accounts with GTBank, Innoson is partnering with the Nigerian Army in local production of military hardware and vehicles. We are the big losers in the drama.

Biafra Renaissance: Beyond The Frivolous ‘Sit-at-home’ Orthodoxy

Feelings have no logic. In our attempt to characterize the ordeals of Innoson as Yoruba or Buhari’s natural hatred of Ndigbo, we display a victim mentality that has never favored any group in a multicultural society. Car manufacturing business is still a virgin sector in Nigeria with potential for growth. We can help one of our own be a dominant player by playing smart.

Part of such smartness is not propagating the fallacy that Buhari and a “Yoruba bank”, GTBank hates Innoson because he is Igbo. This conscious act of perpetuating self-imposed and unwarranted sense victimization has to end this 2018. For those that have ears, let them hear.

Happy New Year all.

  • You can email Churchill at or follow him on Twitter @churchillnnobi
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment
View comments

Write a comment