According to reports, Dbanj might be having financial issues as the artist has been hit with a $240,000 debt scandal.
A technology company, Mindhub Technology, led by a top oil and gas player, Henry Ojogho, claims that the Kokomaster is owing them the sum of $240,000 and an additional N15,000,000.
According to Mindhub, the artist, through is company, obtained a loan of over N60m from them in January 2013 and has not paid back a dime despite signing an undertaking to do so.
The company also claimed that D’banj issued two cheques; one on December 20,2013 and another on January 2014, both of which had to be returned unpaid after presentation because the pop star’s accounts didn’t have enough funds.
According to documents obtained by the NET, a firm of attorneys, D.U. Odigie& CO acting on behalf of Henry Ojogho, in a letter addressed to D’banj:
“following the default by D KINGS MEDIA LIMITED to pay the debt to our client, and pursuant to the afore mentioned personal guarantee/Memorandum of Understanding, you issued two post-dated cheques; one for the sum of $240,000 (two hundred and forty thousand dollars) dated 20/12/2013 and the other for the sum of N15,000,000 (fifteen million naira) 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) out of the fifteen million naira in Cheque, leaving a balance of N6,400,000 (six million, four hundred thousand naira), you have failed, neglected or refused to redeem the entire or any part of the $240,000 cheque.”
It was further revealed that Hemry Ojogho is not the only rich man D’banj has owed in recent years. There are a number of others including Prince D. Okonkwo ($200k) and Walter Wagbatsoma (£200k).