D’BANJ GOES BROKE.

D’BANJ GOES BROKE.

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Story By Michel J Otieno

The debt allegations against Nigerian millionaire artist D’banj first surfaced in November 2014 as Henry Ojogho, Vice Chairman of Broron Group and MindHub Technologies, alleged that D’banj owes him and has refused to pay.

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Both D’banj and the petitioner, Ojogho were absent during the first hearing, which came up at the Multi-door Courthouse, Obalende, Lagos on March 30, 2015.

The debt, according to Henry, came about through a loan of over 60m Naira granted D’banj’s company, DKM Media Limited in January 2013 but which the ‘Oliver Twist’ singer is yet to pay back despite signing an undertaking to do so.

Raising the stakes even higher, the petitioner alleged that the entertainer issued two cheques – 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’s accounts were not funded enough.

According to documents, 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 (Two hundred and forty thousand United States Dollars only) dated 20/12/2013, and the other for the sum of N15,000,000 (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 N8,600,000 (Eight million, six hundred thousand naira only) out of the N15,000,000 (Fifteen million naira only) (in) cheque, leaving a balance sum of N6,400.000 (Six million, four hundred thousand naira Only), you have failed, neglected or refused to redeem the entire or any part of the $240,000 (Two Hundred and forty thousand United States Dollars) cheque.’

Come May 7, 2015, the hearing will resume and it remains to be seen if D’Banj will be in court this time or be absent once again.

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