DKM n boss D’banj is reportedly in the news for not paying up debt which runs into a hundred million Naira, the news has it that D’banj is indepted to a tech company mindHub.
A lawsuit has been filed against him for his failure to pay up dept,the dept can be traced back to 2012, Kokomaster signed a memorandum of understanding with the company,on October 19_2012
For promotion of a concert organised by his media house D’kings man media LTD, Based on the report by pulse ng. MindHub invested the sum of $500,000 and #20,000,000( million Naira) for the organization of concerts as part of the agreement D’banj was to be held capable of D’kings media failed to pay the said amount of the money.
Till date D’banj has only paid $ 260,000 out of $ 500,000 and # 8,600,000 from the # 20,000,000, In his bid to pay the aforementioned out standing sums to mindHub D’banj 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 was returned unpaid on presentation by the said Henry Ojogho who sought to know from Skye Bank the reason the cheque was returned unpaid,Skye Bank notified Chief Henry Ojogho that it was lack of funds in D’banj’s account.
The cheque was endorsed ” DAR” by the bank, D’banj issued another GT Bank cheque No .00000046 dated January 20.2014 in the sum of # 15,000,000 to the company same scenario played out with the second cheque from D’banj. Apparently the company has had enough of the drama,hence filed lawsuit against D’banj to recover loan ,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.
Some of our artists with their extravagant life style,buying big cars and spending money like water, how can you issue a cheque when u know quite well there’s no money in your account, Nawaoooo. – Gubi.