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Monday, August 27, 2012


Olisa Adibua

Obi Asika

Olisa Adibua has been in the news in recent times for the negative reasons. He reportedly beat up a staff at Beat FM in 2011. At the just concluded Rick Rock show in Lagos, he reportedly almost marred the event when he was said to have insisted on introducing Rick Ross on stage which was the duty of Larry D.
News just reaching us confirms that controversial On Air Personality with Beat FM, Olisa Adibua has been sack as a director of Storm 360. His sack was confirmed through a press statement made available to us.

The statement reads, "Storm 360 confirms that Mr Olisa Adibua is no longer a director of the company. This decision was reached at a properly constituted company EGM
"Mr Adibua was a non-executive director of Storm 360 and has never been involved in the management and operations of Storm
"The Company will not engage in public discussions about its internal business operations.
"Storm is facing forward and continues to build upon its position as a leading light in Nigeria's entertainment industry and community
Thank you,
Board and Management of Storm 360
Obi Asika CEO Storm 360."

However, Olisa has responded to the sack tale that has gone viral on the internet. Below is his response:

"As a director and founding shareholder of storm 360 Ltd, my attention has been drawn to certain unfounded statements in the media about my alleged removal as director of the company. There is therefore need to clear the air and put right the mis-stated facts leading to the said publication.
"Sometime in 2011, my attention as a director of the company was drawn to certain huge and unauthorized withdrawals running on the company's Naira and Dollar accounts. Not having been supplied any explanation and having noted the fact that the debits were to the benefit of unauthorized persons, the matter was reported to d police for investigation.
"All efforts to get the other members of the board to assist in the investigations proved futile and while the investigations were on-going, a meeting of the company was hastily called in which no notice was served on me and in which the deliberations was conducted in the most clandestine manner.
"For failing to comply with legal requirements for such meeting, my solicitors have commenced the necessary legal process to contest the glaringly invalid removal and set same aside. The investigations into the fraudulent misappropriation of the company's funds are still on and upon conclusion will reveal all the perpetrators of the fraud against the company which I and the other well-meaning members of the company have striven to build.
"The public is advised to ignore such unabashed campaign of calumny as both criminal investigations and judicial proceedings are on-going which will eventually set the record straight. For the avoidance if doubt, I still remain a member of the board of the company and any claims to the contrary are completely false–Olisa Adibua, who also works as an OAP and MC, is a co-founder of Storm and owns 20 per cent shares of the company."

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