D’banj Alleged Massive Debt. See Reported Served Court Papers

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This matter seems to be more serious than I thought at first oooh. D’banj indirectly slammed the rumors last week, but it seems like there is a little truth to all of it.

Oyebanjo Oladapo aka D’Banj, has been the subject of several media reports lately. The stories making the rounds about the Nigerian pop star are very bad for his reputation and most of all, they might be true.

Bangalee recorded another remarkable achievement early last month, October 2014 with his official announcement as the first Beats By Dre headphones African ambassador.

Although the financial details of the deal were not disclosed by the headphones’ new owners, Apple Inc., it is believed to be a lucrative and rewarding venture for the singer.

As you may already be aware, D’Banj was reported to have huge debt portfolio hanging on his neck as several people have turned up with claims that he is owing them substantial sums.

With the story being the most talked about topic in the music industry this past week, the ‘Oliver Twist’ star has refused to make any comment about the matter which we learnt started on a good note for all concerned back in 2012.

Rather, he simply posted a short remark on Twitter which reads: ‘Silence, my response to all the false rumours’ and proceeded to throw his weight behind the release of the new video of Oritse femi’s ‘Double Wahala Remix’ in which he is featured.

Since the story hit the public space, all attempts to reach neither D’Banj nor his management to react to the scandal has proved abortive as he is said to have told his team to avoid speaking to the media until further notice.

Sources however claim that they were able to get hold of a warning letter sent to him by Mr. Henry Ojogho, the Vice Chairman of BRORON GROUP, Broron Oil & Gas Limited who is also the Vice Chairman of MindHub Technologies.

In the letter, dated September 13, 2013, Henry gave D’banj a final warning to refund the money owed him or be prepared to face full wrath of the law.

The letter partly reads:

‘The above subject matter, our several mails, telephone conversations and meetings between you and our Vice Chairman refer.

Recall that you agreed to act as a guarantor for the payments owed to Mindhub by D Kings Men Media Limited (the company) on account of investment made by Mindhub to the company as contained in the Memorandum of Understanding dated 19th of October, 2012.

‘This letter constitutes a FINAL NOTICE OF DEMAND to Pay the outstanding sum of USD 300,000 (Three hundred thousand Dollars) and N15m (Fifteen million Naira) immediately as outlined in your personal guarantee.

‘Should you fail to perform according to the executed Personal Guarantee within seven (7) days of receipt of this letter we shall not hesitate to exercise the legal rights and remedies available to Mindhub without further notice to you, to compel performance of the Guarantee in accordance with its terms. Further note that should we decide to exercise any of the company’s rights and remedies under the guarantee, all costs and expenses shall be fully borne by you.’

D’Banj recently returned to the country, precisely on Wednesday, November 12, 2014 after spending 3 months in the United States.

Investigations revealed that his absence had made it impossible for him to be served the court papers previously but we gathered that the court papers suing him for alleged issuance of dud cheques might have been pasted on the wall of his residence located at Osaro Isokpan Street in Lekki Phase 1, Lagos by now as his creditors now see him as trying to frustrate the process of being served the court papers.

The claimant, Henry Ojogho is represented by a Benin, Edo State-based law firm, D.U. ODIGIE & CO and sources say the legal fireworks will start soon if D’banj refuses to act accordingly.

We would definitely follow developments on this matter and bring you fresh reports as they unfold.

See the warning letter sent D’BANJ below


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