GENESYS IGNITES TECHNOLOGY FLAMES IN SOUTH EAST

• ·         3 Startups Win USD$10,000 Each
• ·         Witnesses over 2000 Attendees

Enugu, December 15, 2017: Technology has been identified as a powerful tool to redeem and redirect the economy of Nigeria, especially the South East region. This is the unanimous view of speakers and panellists at GenesysIGNITE 2017, regarded as the biggest annual convergence of technology hubs and start-ups in the region.

The GenesysIGNITE start-ups convergence was held in Enugu on Friday, December 15, 2017  by Genesys Tech Hub in collaboration with CFAtech.ng; where three start-ups presented with cheque worth USD$10,000 each after emerging victorious at the pitch sessions.

Speaking at the epoch-making event with over 2000 start-ups drawn from Enugu, Abia, Uyo, Imo, Anambra, Delta, Ebonyi and other neighbouring states in attendance, Senator Ken Nnamani, erstwhile President of the Senate, Federal Republic of Nigeria, reiterated that the future of Nigeria belongs to the digital economy and will become visible if the country strategizes properly.

Senator Nnamani who chaired the event, underscored the need for educational institutions, especially the universities to ‘feed’ the technology industry with skilled manpower and graduates fit for purpose. He also showered encomiums on Genesys for the foresightedness in organising the event capable of igniting mind shift among the youths “from election ballot box snatching to technological evolution in the region”.

“What Genesys is trying to ignite in the South East and Enugu State in particular is awesome, by opening the eyes of our young people to tech disruptions and opportunities. It is important, because our people are ingenious and if we can apply the ingenuity in the tech ecosystem we can compete with the Silicon Valley. It is high time we shift our ingenuity from snatching ballot boxes during elections, and channel the strengths towards technology.”

Meanwhile, Kingsley Eze, founder and CEO of Genesys Tech Hub, said the main objective of the GenesysIGNITE was to discuss latest technology trends that impact the regions, and to proffer strategies for unearthing benefits in the various sectors of the Nigerian economy at large. Through the event, he said, they are also promoting innovative business solutions and ideas, currently propagated in the form of start-ups, within the region, culminating in capacity building and other exigencies to help them thrive.

Presenting the cash prizes to Tutor Finder, PlayJoor and House of Uwe, Dr. Ogbonnaya Onu, the Minister of Science and Technology, said that it was high time various research and development results were pulled off the shelves from the Nigerian universities and turned to commercial products. Any nation that produces science and technology experts is always the toast of the world. Genesys is doing what the Government has in mind with regards to youth development - capacity building, incubation, providing venture capitals. I can tell you that the Federal Ministry of Science and Technology will support this platform to ensure that the young people are given a space to express themselves and add value to the economy.”

Dr. Onu added that the Ministry through the National Office for Technology Acquisition and Promotion (NOTAP), the Federal government is addressing issues related to patent and intellectual property as means to safeguard investments and ideas of the young people.

Chukwuemeka Fred Agbata Jnr., founder, CFAtech.ng who moderated the panel session informed the youths in attendance that this is the type of events that has helped fuel the tech revolution in other parts of the country and that they owe themselves a duty to take full advantage of the opportunities that will follow GenesysIGNITE 2017.

On his part, Professor Umar Danbatta, executive vice chairman of the Nigerian Communications Commission (NCC) tied digital innovation and development to digital literacy, stating that Government needs to move towards the “pull” strategy with emphasis in the development of appropriate legal framework, applications and local content.

“Digital Access Programme (DAP) is being implemented by the regulator to equip secondary schools across the country with internet connectivity. More than 223 schools have benefited. Internet clouds are being provided within Nigeria’s university and polytechnics to foster improvement in digital literacy and application,” the EVC said through Mr. Tony Ojobo, director, Public Affairs at the Commission.

GenesysIGNITE 2017 has laid a solid foundation for technology development in the south east and south south regions of the country.

ABOUT GENESYSIGNITE

GenesysIGNITE is an annual Southeast Startup Convergence that seeks to congregate young entrepreneurs/start-ups and innovation hubs from all parts of the south-east and south-south regions. For more information, please visit http://www.genesystechhub.com/genesys-ignite

EFCC destroying Local Content concerning Innoson ?

It is a shame that's the *#EFCC* could throw tear gas on  *Savage Crescent* road not minding the people living in its environs. 
Thereby making the *kids* who came for their *Christmas party in Solid 100.9Fm on  number 10b savage Crescent suffer pain* and cried for over one hour because they were trying to arrest Innoson Group who lives adjacent *#solid1009fm.*

If what I read below is true,  then the entire savage crescent needs an apology from *EFCC WITH immediate effect.* *#Ijele*

 Crescent#Innoson group Vs GTBank : 30 Key Points you need to know about their dispute

1 - At all Material time , Innoson Nigeria Ltd operates a Current Account with GTBank .

2 - Innoson obtained , and had repaid same , a loan of N1.3billion from GTB Which was secured with a legal mortgage of its properties valued at more than N1.4billion .

3 - Innoson discovered that GTBank imposed excess and unlawful charges in its Current account .

4  Innoson Group Complained to GTBank on his discovery of access charges on his account .

5 - Both parties ( Innoson and GTBank ) agreed to invite an independent auditing firm that will be agreed by both parties .

*6*- At the end , MULTI-WINGS Consulting Firm of Auditors was invited to properly audit Innoson Nigeria Ltd Current account No 0043753636 domiciled with Nnewi Branch of GTBank . The audit covers a period from March 2004 to Dec 2011 .

7 - After the account was audited , it was discovered that GTBank has been illegally deducting excess bank charges on its overdraft facility to the Innoson to the tune of seven hundred and Eighty-Six Million, Two Hundred and Five Thousand , Nine Hundred and Fifty-Five Naira , Ninety Nine kobo ( N786,205,955.99).

8 -  GTBank was shocked at the audit report when the report was forwarded to it .They replied in their letter to Innoson on 20th January , 2012 that it will investigate the issue raised and will get back to Innoson on the Conclusion of its investigation .

9 - In the month of September 2012 , GTBank wrote to Innoson that from their personal audit report , the excess bank charges was Five Hundred and Fifty-Nine Million , three Hundred and Seventy-Two naira ,Nine kobo ( N 559.3Million).

10 - Innoson agreed to their version and decided to accept payment from it in the spirit of amicable resolution.

*11*- Innoson also requested that the said agreed amount of N559.3million be paid with a 22% interest rate because Innoson had been repaying all his loan with GTBank at 22% interest rate.

12 - GTBank refused and said that the best they can repay excess and illegal deduction is at 7% interest rate . This led to another disagreement between Innoson and GTBank .

13 - As a result , in 2012 , Innoson sued GTBank at Federal High Court Awka with Suit No : FHC/Awk/Cs/2012 .

14 - Federal High Court, Awka delivered Judgement in favour of Innoson in excess of N4.7billion against GTBank.

Delivering Judgement in suit no : FHC /Awk/ CS / 139/2012 , the FHC awarded N4.7billion to Innoson Motors against GTBank .
The court also ordered GTBank to pay 22 % (percent ) interest on the Judgement debt until all the payment had been made to Innoson .

15 - In 2013 , GTBank appealed against the judgement to the Court of Appeal, Enugu Division, appoxite appeal No: CA/E/288/2013 .

16 - The Court of Appeal , Enugu in a Considered ruling ordered GTBank to pay the Judgement debt of N6billion Inclusive of the accrued interest and any interest that would subsequently accrue thereon into an interest yielding account in the Name of the Chief Registrar of the Court .

17 - In its various affidavits, particularly at the Court of Appeal in suit no : CA/E/288/2013 , GTBank deposed that if it pays the outstanding Judgement debt of N6billion , much less the N8.5billion , it could go bankrupt and be out of business .

18 - GTBank went to the Supreme Court .The case is still in the Supreme Court , while the Judgement debt is about N8billion now to be paid to Innoson by GTBank .

#Another Cases:
IBADAN Cases : Innoson /GTBank/Nigerian Custom Service :

19 -  Nigerian Customs Service Auctioned Innoson goods .

20 - Innoson challenged the action Nigerian Custom Service for auctioning its goods at Federal High Court , Ibadan .

21 - On July 29 ,2011, In a Garnishee Order Absolute , the Federal High Court sitting in Ibadan ordered GTBank to Pay Innoson #2,048,737,443,67 (#2billion) from Nigerian Customs account in GTBank .

22 - Rather than Comply with the Garnishee Order Absolute of the Court , GTBank on February 6, 2015 appealed the Judgement , but the Court of Appeal in Appeal no. CA/1/258/2011 affirmed the Judgement of the Federal High Court and ordered GTBank to pay the Judgement debt of #2,048,737,443.67 (#2.048billion) to Innoson .

23 - GTBank , instead , appealed to the Supreme Court against the Court of Appeal's decision where GTBank claimed through a motion in suit no : Sc /694/2014, that the Court of Appeal Judgement in Ibadan (CA/I/258/2011) was procured by suspicious means .

24 - On May 12,  2017 , Supreme Court in its wisdom and rightly , dismissed that unfounded and exasperating claim of GTB against Innoson .

25 - As a result , Innoson commenced a N400 billion suit against GTBank , in the suit No: FCT /HC/CV/2448/2017 at the High Court of the Federal Capital Territory, Abuja .

#Another issues

26 - Consequently , in order to save itself from paying the outstanding Judgement debts to Innoson , the GTBbank filed a petition against Innoson alleging forgery  which led to the suit No : FHC /L/565C/2015 by Police .

27 - On February 17, 2016 , Police properly and Competently withdraw the charges against Innoson , saying they needed to properly investigate the bank's complaints first and see if they had merits .

28 - On September 1 , 2014 ,  GTBank secured an ex parte order on Innoson Nigeria Limited, dated September 1, 2014 with suit no FHC/L/CS/1119/2014 , filed before a Federal High Court in Lagos , between GTBank and Innoson Nigeria Limited , issued by *Justice Okon Abang* , ordering that , pending the hearing and the determination of the substantive suit , all Commercial Banks in Nigeria were restrained from accepting in any manner whatsoever to any mandate or instruction presented to them by Innoson Companies or any of its agents or nominees for withdrawal of any sum of money standing to the credit of any account maintained by the company in all the banks.

29 - However , on June 10, 2015 , *Justice Saliu Saidu* of the Federal High Court , Lagos , in a Considered ruling set aside the ex parte order of September 1, 2014 , by Justice Okon Abang and the writ of summon as well .

30 - Innoson then slammed a N30 billion suit on Guaranty Trust Bank for what it had suffered in monetary terms and reputational terms during the months when the accounts of its companies in all Nigerian banks were frozen.
With Innoson winning both cases at the High Court and both cases at the Appeal Court, and GTB appealing, both cases are awaiting the verdict of the Supreme Court. Meanwhile the fresh N30 billion naira suit has just gone to the High Court to start its legal journey.

....

In all , Innoson has won two High Court cases and two Appeal Court cases all against GTBank .

Innoson as at today has Judgement debt over about N10billion based on 22% interest rate against GTBank .

#Questions for EFCC :

(i) Now where is the EFCC coming from in all these ?

(ii) Does EFCC actually understand their duties here ?

(iii) Is EFCC by their action not sabotaging Nigerian economy ?

(iv)  If EFCC should to arrest any of the parties , shouldn't GTBank who dubiously deducted Innoson money from his account and have debt of about N8billion to pay Innoson that they should arrest ?

Courtesy: Ikechukwu Emeka Onyia ©2017