D’Banj Sued Over 100 Million Naira Debt!
News reaching us is that popular Nigerian singer AKA Kokomaster was sued by a technology company, MindHub for owing over N100, 000, 000 naira.
According to Pulse, who got the exclusive document on November 16, 2016, D’banj signed a memorandum of understanding with MindHub on October 19, 2012, for the promotion of a concert organised by his media house, D’Kings Men Media LTD.
MindHub invested the sum of $500,000 and N20 Million for the organisation of concerts, with the hope of getting their returns through the help of the publicity promised by D’Kings Men Media LTD.
The contract states that D’banj would be personally liable for the payment of the sums of money in the event of D’Kings Media failure to pay. When Dkings Men media failed to pay back, Mindhub Technologies called on the singer for a refund.
D’banj, who recently won the Entertainment Icon Of the Year Award at the Black Entertainment Film Fashion Television and Art (BEFFTA), which held in October, reportedly paid only $260,000 and N8,600,000 leaving the outstanding sum of $240,000 and N6,400,000.
Mindhub resorted to taking the issue up legally as all efforts made to bring D’banj to the books was unsuccessful.
In his bid to pay the aforementioned outstanding sums to the Mindhub, Dbanj issued a Skye Bank cheque No. 10000039 on December 29, 2013, in the sum of $240,000 in the name of Henry Ojogho, Mindhub’s Vice Chairman.
The cheque bounced when presented at the said bank due to insufficient funds in Dbanj’s account.
The cheques was also endorsed “DAR” by the Bank. D’banj issued another GT Bank cheque No.00000046 dated January 20, 2014, in the sum of N15, 000,000 in favour of Mindhub.
The cheque was also returned unpaid on presentation. Consequently, MindHub filed a suit in 2015 against Dbanj to recover the sums of money.
The case is currently before Justice Oyebanjo of the High Court of Lagos State, Ikeja Division and would be due for hearing on December 9, 2016.