Connect with us

News

JUST IN: ARISE TV, THISDAY thrown out of Lagos office over unpaid rent

Published

on

Arise Television

ARISE News, THISDAY Newspapers and General Hydrocarbons Limited (GHL), have been reportedly evicted from their office complex in Ikoyi, Lagos State over unpaid rent amounting to $1 million over a three-year period.

A visit to their premises at 16 Temple Road, Ikoyi, confirmed that the ever-busy office space is now vacated.

The media companies and GHL, all linked to media mogul, Chief Nduka Obaigbena have ceased operations from the location following their alleged forced eviction by the property owners.

Moreover, this latest development adds to a growing list of controversies trailing Mr. Obaigbena.

Before now, the businessman has long faced criticism over serial defaults in staff salary payments, and contractual breaches, including the controversial closure of THISDAY’s operations in South Africa.

Also, the media guru is embroiled in a high-stakes legal battle with First Bank of Nigeria over a $225.8 million debt owed by General Hydrocarbons Limited, where he serves as a director and major shareholder.

The bank, in court filings, accused GHL and its directors of diverting oil proceeds and dissipating assets outside the court’s jurisdiction.

First Bank claims that as of September 30, 2024, GHL’s indebtedness stood at $225,802,379.69.

While supporting its case, the bank presented bills of lading evidencing the shipment of 128,724 and 114,359 barrels of crude oil to France in November 2024—transactions it alleges were attempts to divert funds.

However, in response to the bank’s claims, a court has frozen the accounts of General Hydrocarbons Limited. The firm’s board includes Nduka Obaigbena as well as Efe Damilola Obaigbena and Olabisi Obaigbena, who are believed to be relatives.

See also  Super Eagles qualify for AFCON 2025

 


For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest from DDM TV

Latest Updates

Burkina Faso suspends top radio station over junta reference

El-Rufai warns APC: Nigeria can’t survive another term

ADC blasts Niger governor over radio station shutdown

Labour party blasts INEC over omission of bye-election candidates

Viral song urging Atiku to step down sparks heated reaction

2027: Youth leader explains why coalition adopted ADC

Some want to govern Anambra without school certificates – Soludo

Super falcons teammates question plumptre’s Nigerian identity

VIDEO: Any Politician Offering To Serve For One Term Needs Psychiatric Examination — Gov Soludo

Onyekesi: More Details Emerge On How Insecurity Killed Son Of APGA Women Leader Shortly After She Praised Soludo For “Restoring Security in Anambra”

Subscribe to DDM Newsletter for Latest News

Get Notifications from DDM News Yes please No thanks