Long time friends, business partners and I hear they are kinda related, Storm 360 CEO Obi Asika and Beat FM On-Air-Personality Olisa Adibua have parted ways after working together for many years. Obi Asika released a statement today stating that Olisa is no longer a director in Storm 360 company. Read the statement below..
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 360. 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.Olisa has responded to the sack.
‘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.
