I AM Not Broke | Says Koko Master D'Banj

Naija superstar and brand ambassador for Beats By Dre, Dapo Daniel Oyebanjo, better known as D’Banj, has rubbished recent allegations that he is broke. His alleged (can't sue me) financial dire straits came to light and ignited Naija media platforms after a legal letter was leaked, stating that the singer owes MindHinds 60 millions nairas. 

The multiple award-winning entertainer, has not taken these allegations lightly though and he took to his twitter to vent.  

Reacting to the reports, D’Banj wrote, 

“Silence. Here is my response to the false rumours, with a link to the newly released music video of Oritsefemi’s ‘Double Wahala Part 2’.”

According to the reports coming out of Nigeria, D'Banj is being sued, through his company, D Kings Media Limited, for a loan of over N60million (that's about R3.4milliom) from MindHub Technologies obtained sometime in January 2013.

According to reports, the company, through its legal representatives, claimed D’Banj fooled them when he presented a dud cheque to them after he was asked to pay up his alleged debt.

Part of the letter written to D’Banj through the company’s lawyers reads;

“We act as Solicitors to MINDHUB TECHNOLOGIES LTD (hereinafter called “OUR CLIENT”), and on whose instruction we write you this letter in the manner stated hereunder. 

“It is our brief that sometime in January 2013 in Lagos, you signed a Personal Guarantee/Memorandum of Undertaking with our client wherein you agreed/undertook to pay our client the investment fund of N100,000,000.00k (One Hundred Million Naira Only) given to D KINGS MEDIA LIMITED by our client, should the latter default in payment of the debt. The said debt is made up of Nigerian and United States of America’s currencies,” the letter disclosed. 

“Following the default by D KINGS MEDIA LIMITED to pay the debt to our client, and pursuant to the aforementioned personal Guarantee/Memorandum of Undertaking, you issued two post-dated cheques; one for the sum of $240,000,000 (Two Hundred and Forty Thousand United States Dollars Only) dated 20/12/2013, and the other for the sum of N15,000,000,00k (Fifteen Million Naira Only) 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, 600,00.00K ( Eight Million, Six Hundred Thousand Naira Only) out of the N15,000,000,00k (Fifteen Million Naira Only) Cheque, leaving a balance sum of N6,400.000.00k (Six Million, Four Hundred Thousand Naira Only), you have failed, neglected or refused to redeem the entire or any part of the $240,000.00 (Two Hundred and Forty Thousand United State Dollars) cheque,” the letter signed by one Mrs C1 Ugwuanyi stressed. 

“In the circumstance, we have our client’s instruction to demand payment of the aforementioned outstanding sums/debts of $240,000.00 (Two Hundred and Forty Thousand United States Dollars) and N6, 400.000.00k (Six Million, Four Hundred Thousand Naira Only) respectively to our client through this Law office within seven days from the date of receipt of this letter"

As stated, D'Banj has a lucrative deal with Apple/Beats By Dre and continues to be one of the best selling and sort after performers on the continent. Surely R3.5million can't be a bank breaker for him.