Pulse is reporting that the singer purportedly signed a Memorandum of Understanding, MoU, with the technology company on October 19, 2012, for the promotion of a concert organized by his media house, D’Kings Men Media LTD.
The contract agreement had it that Dbanj would be personally liable for the payment of the money in the event that D’Kings Media fails to pay.
However, when Dkings Men media failed to pay back, the company called for the repayment from the ‘Kokomaster’ and he reportedly paid only $260, 000 and N8, 600, 000.
Dbanj had reportedly issued a Skye Bank cheque No. 10000039 on December 29, 2013, for the sum of $240,000 in the name of Henry Ojogho, Mindhub’s Vice Chairman.
Reports say the cheque was returned unpaid due to lack of funds in the Dbanj’s account.
D’banj issued another GT Bank cheque No.00000046 dated January 20, 2014, in the sum of N15, 000,000 in favour of Mindhub and it was also returned unpaid.
He reportedly left the outstanding sum of $240, 000 and N6, 400, 000.
Following the outstanding debt, the company has legally taken up the issue as they said all efforts made by them for him to pay, proved abortive.
As a result, the company reportedly filed a suit in 2015 against D’banj to recover the money.
The case, which would be due for hearing on December 9, is currently before Justice Oyebanjo of the High Court of Lagos State, Ikeja Division.