Ex-Mo’Hits co-owner Dapo Oyebanjo aka D’Banj has been slammed with a N100 million lawsuit by MindHub Technologies for failing to meet up with financial commitments running into millions.
The ‘Kokomaster’ is now set to appear in court on the 9th of December, 2016 after MindHub filed a suit against D’Banj with the case currently before Justice Oyebanjo of the High Court of Lagos State, Ikeja Division.
According to reports, D’Banj signed an MOU with the technology company on October 19, 2012, for the promotion of a concert organised by his media house, D’Kings Men Media LTD, with an agreement that should his media house fail to meet up with financial agreement, then, D’Banj would be liable for payment.
Reports say MindHub invested the sum of $500,000 and N20 million for the organisation of concerts and it turned out that his media house was unable to pay the agreed sum signed on the MOU.
MindHub Technologies got in touch with D’Banj calling for repayment and he was reportedly able to pay only $260,000 (N8, 600,000), leaving the outstanding sum of $240,000 (N6, 400,000).
Months after trying to get D’Banj to pay the outstanding sum to no avail, the technology company decided to take the issue up legally especially after receiving two cheques from the ‘Kokomaster’ which were returned unpaid.
As at the time of filing in this report; D’Banj was yet to respond to the suit by MindHub Technologies which has shown that it is ready to take action to get its money paid back.
By Ahmed Boulor…
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