From a relatively unknown UK-based artiste, Dapo
Daniel Oyebanjo, D’Banj has become one of the
biggest musicians in Africa over the last decade.
Widely known as the Kokomaster, D’banj has
several local and international awards and
endorsement deals to his name today.
Singer D'banj is being threatened with legal action
as a result of debts he is claimed to be owing
However, the pop star seems to be going through
an unpleasant period in his career as some people
who claim to be owed by D’banj are threatening a
legal action against him.
According to NET investigations, the issuance of
dud cheques and non-payment of accrued debts
top the list of infractions against the DB Records
boss who now calls himself Bangalee.
As things stand, D’banj may be dragged to court by
a top oil and gas industry player, Henry Ojogho,
Vice Chairman of Broron Group. Ojogho, who is
also the Vice Chairman of MindHub Tehnologies, an
integrated Rice farming and milling production
company, alleges that D’banj, through his company,
DKM Media Limited, obtained a loan of over N60m
from him in January 2013 and has not paid back
the said sum despite signing an undertaking to do
so.
In addition, the man is claiming that the entertainer
has issued two cheques already; one on December
20, 2013 and another on January 20, 2014, both
of which had to be returned unpaid after
presentation because the pop star’ accounts were
not funded enough.
According to documents obtained by NET, a firm of
attorneys, D.U.ODIGIE & CO acting on behalf of
Henry Ojogho, in a letter addressed to D’Banj,
wrote: ‘Following the default by D KINGS MEDIA
LIMITED to pay the debt to our client, and pursuant
to the aforementioned personal Guarantee/
Memorandum of Undertaking, you issued two post-
dated cheques; one for the sum of $240,000,000
(Two Hundred and Forty Thousand United States
Dollars Only) dated 20/12/2013, and the other for
the sum of N15,000,000,00k (Fifteen Million Naira
Only) dated 20/1/2014. Both cheques were
returned unpaid on presentation by our client.
‘We are further informed that although you
thereafter paid the sum of N8, 600,00.00K (Eight
Million, Six Hundred Thousand Naira Only) out of
the N15,000,000,00k (Fifteen Million Naira Only)
(in) Cheque, leaving a balance sum of
N6,400.000.00k (Six Million, Four Hundred
Thousand Naira Only), you have failed, neglected or
refused to redeem the entire or any part of the $
240,000.00 (Two Hundred and Forty Thousand
United State Dollars) cheque.’
Further investigations by NET revealed that Henry
Ojogho is not the only wealthy man claiming D’banj
owes him in recent times. There are a number of
others, according to our sources. So bad is the
situation that an industry source who pleaded
anonymity, chides the ‘Igwe’ singer thus: ‘Using the
sympathy and naivety of unsuspecting investors
coming into the game to dupe them is criminal and
absolutely destroying the image of the industry at
large, because in the long run it affects and
corrupts the judgment of genuine investors who
would pull out for fear of being duped.’
NET also contacted the law firm of the claimant and
a lawyer at the chambers but who doesn’t want his
name disclosed spoke to us, saying: ‘It is true that
we have such a case in court but the case is yet to
come up for hearing so I cannot comment on it yet.
‘Professionally, I cannot make any comments now
because the defendant has not been served the
court papers because they said he’s out of the
country. But, any moment from now, he’ll receive
the writ of summons. As soon as he receives it, then
it becomes a public case. ‘But for now that he has
not been served, the law does not allow me to
make such comments because as far as the law is
concerned, the man is not aware yet, but I can
confirm to you that the matter is in court.’
Other people D’banj allegedly owes…
D’banj It is alleged that D’banj approached a
number of very wealthy people with business
proposals, urging them to invest in the industry
and set up entertainment companies.
With the promise of developing artistes and huge
returns on investments, the businessmen became
interested only for him to collect their money and
move on to the next target with the same ‘format’.
Below is a list of a number of names he allegedly
owes according to sources.
WALTER WAGBATSOMA (200,000 Pounds) Mr Walter
is a billionaire with investments in major areas,
ranging from oil and gas to real estate, banking,
equities and even insurance. He is the founder and
executive Vice Chairman of Ontario Oil and he’s one
of the first men who were said to have handed
money to D’banj, with a whopping sum of 200,000
Pounds said to be involved.
PRINCE D. OKONKWO ($200,000) He’s the chairman,
Board of Directors of Tetrazini Group of Companies
and he is said to have given about $200,000 to
D’banj in the name of investing in entertainment.
When the issue with Prince Okonkwo got out of
hand, D’banj was said to have sought help from
Dapo Abiodun, boss of Heyden Oil and Gas who
helped him take care of the debt through a
repayment plan.
The Koko Concert Drama…
Still fresh in the memory of Nigerians is the
controversial 2012 edition of Koko Concert in
which people had to trek for miles before getting to
the venue and back.
This is not forgetting the inhuman treatment meted
out to those with regular tickets.
D'banj reportedly made close to N87m from tickets
sales alone at that event and reports allege he
collected a whooping $500,000 from GTBank and
other title sponsors of the show.
D’banj is reported as yet to recover from the 2012
Koko Concert though, which is believed to have led
him not just into debts but made him part ways
with several of his closest allies.
Is D’banj broke?
D’banj’s last real album, a ground-breaking body of
works titled The Entertainer was released in
September 2008, before he released the DKM
compilation in June 2013. It’s safe therefore to say
D’banj hasn’t released an album in the last 6 years,
yet he has managed to stay very relevant in the
industry, which is largely due to his staying power
and tenacity.
In 2014, he has been part of several campaigns in
agriculture, poverty alleviation, economy, and
recently became the first African Ambassador for
BeatsByDre having signed a deal with tech giants,
Apple. He is also putting finishing touches to plans
to drop an album in celebration of his 10th year
anniversary in the music industry.
Having said that, it’s evident that while he has not
headlined any major show in the last 6 months,
D’banj has other multiple streams of income.
However, it is amazing that despite D’banj’s
remarkable success and many endorsement deals
over the years, he has no building or house of his
own. The place he currently calls home, a building
on Osaro Isopkai Street in Lekki is a rented
apartment. As a matter of fact, investigations
revealed his current rent in the said apartment will
expire this month.
D’banj returned to the country on Wednesday,
November 12, 2014 after spending about 3
months in the United States of America. And now
that he is back, a court case bearing his name might
come up for hearing soon, unless he is able to settle
or pacify those who are reportedly waiting to
swoop on him.
source: http:///1viZyxp
http://dailypost.ng/2014/11/24/dbanj-hit-messy-
debt-scandal/?wt=4

Oya @op here is the source
http://dailypost.ng/2014/11/24/dbanj-hit-messy-debt-scandal/?wt=4

idonbilivit:
Oya @op here is the source
http://dailypost.ng/2014/11/24/dbanj-hit-messy-debt-scandal/?wt=4

correct. although they gave part of the gist.