According to reports from E247mag.com, Obi Asika and his cousin, longtime friend and ‘ partner’, Olisa Adibua is parting ways. Though no statement has been issued to that effect, E24-7 MAGAZINE’s checks revealed that the pair has decided to separate after a careful consideration of their fast waning relationship and inability to manage finances of the company together.
There are indications that the admiration and friendship they shared over two decades have waned and mistrust, misappropriation and lack of confidence have waded in in the last three, four years ago. Since the misconceptions and lack of faith crept in, their interests as partners no longer align and they have not collectively pursued similar economic interest with vigour for the company.
As at the time of filing in this report, the company has invited their lawyers and auditors to check their books and ensure compliance. It is not clear what the erstwhile partners’ future plans are, but there are indications that Obi Asika would continue to run the business that
has a track record of success in its concept and execution of several high budget showbiz events in Nigeria and parts of Africa while Olisa, currently a popular voice on BEAT FM may join a new firm with interests in entertainment projects financing and execution.
As ‘partners’ they ran robust portfolios including Storm Records, defunct Storm Vision, the first and only Big Brother Nigeria edition and GloNaija Sings, among others. Observers of the industry opined that the separation is long overdue and they would be more pleased to let go of each other and look forward to the future. They reasoned that while Olisa pulled the strings to get contacts and contracts, Obi with his pedigree sources for funds. Others believed Olisa also exposed the company’s funds to frivolities, such as clubbing, popping champagne and smoking cigar, while Obi has been prudent and singularly sourced for new areas of investments and how to inject fresh funds also lives large on the bill of the company. Since the scandal blew out six weeks ago, Olisa, E24-7 reliably gathered reported the matter to the Police’s Anti-Fraud Squad Unit that waded into the issue and invited Obi to Abuja for interrogation. The outcome was as startling as it was shocking. Storm Records’ books showed not less than N450million must have been misappropriated. “Olisa asked for explanation. He wanted to see the accounts; he insisted everything must come to open. But trust Olisa, he quickly pulled a fast one: he called his mother who is a close friend of a former President of Nigeria who doused the tension. Besides, common friends and relations closeto the warring cousins pleaded with Olisa to sheath the sword.
When contacted, Obi whowas initiallycoy about the split admitted there were issues but gave hints of plans to address the media soon: “I’m not talking about it at this time, in good time, all will be cleared”, he said. As expected, Olisa’s response confirmed there is a raging storm but pleaded for time tohold a press conference sometime in early September to unveil it all.
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