OBA OTUDEKO-LED BHARTI AIRTEL IN DEBT MESS
Bharti Airtel Limited, India largest wireless operator with less than six months operation in Nigeria, is allegedly involved in a debt mess with Broad Communication Limited, a leading shareholder group of the telecommunication company.
Those who should know divulged that Oba Otudeko-led Bharti Airtel that bought Zain Africa asset for an enterprise value of US$10.7 billion few months ago has refused to pay what Zain was owning Broad Communication before it was sold to them.
It was also gathered that Broad Communication had an outstanding of about N50 million with Zain before it was sold to Bharti Airtel.
Impeccable sources added that Broad Communication has sued Bharti Airtel to a law court to safeguard the investment of shareholders in view of the alleged gross mismanagement and financial indiscretion of Zain group.
An insider from Bharti, who preferred anonymity, disclosed that the company’s management has been treating shareholders unfair since its inception by turning down request of the shareholders to meet with the new management of the telecommunication company, where they have their investment.
The source added that the management is set to reduce its work force by sending away some staffers who know much about the metamorphosis of the company from Econet to its present owner few weeks time under the pretext of staff reduction due to the fact that some of the old hands have relationship with some shareholders.
Officials of the Corporate Communication Department of Bharti Aitel did not deny that it has a working relationship with Broad Communication, but declind to speak on the debt issue, when contacted to react to the matter

JIM OVIA’S N1.8BILLION LARGESSE TEARS ZENITH BANK APART
The former group managing director of Zenith Bank, Jim Ovia’s alleged largesse has reportedly tore the cordial relationship that used to exist among top executives of the bank apart.
The largesse, which amounted to the sum of N1.8 billion, was allegedly given as farewell package to top executives by their former boss as the GMD.
As the pioneer GMD for 20 years, Jim Ovia left Zenith Bank on July 31, 2010 in compliance with the 10-year-maximum tenure policy of the Central Bank of Nigeria (CBN) for bank chiefs with the parting gift that has backfired as a dissatisfied group within the bank executives is kicking against the sharing formula which favours some. Impeccable source from the bank divulged that the powerful group made up of those close to the former GMD benefited most, while those who did not has already petitioned the CBN for its intervention.
The source, who claimed anonymity, revealed that out of about N1.8 billion, a sum of N75 million was allegedly paid to the current GMD/CEO of Zenith Bank, N250 million to five Executive Directors (EDs) another N450 million to 10 General Managers (GMs); N250 million to 10 Deputy General Managers (DGMs) and N700 million to 35 Assistant General Managers (AGMs).
Those who should know claimed that the disbursement of this whooping amount, said to be authorized by the Ovia-led management, was done shortly after a special session, which the retired GMD allegedly held with senior staffers of the rank of AGM and above, at the Civic Centre in Victoria Island, Lagos, a posh events centre also said to be owned by Ovia. The alleged cash gift was meant to be a farewell compensation or a kind to those who were loyal to the former GMD during his tenure.
A source in the bank said that the former GMD realized the need to pacify the management staff as a way of expressing appreciation for their services over the years. However, another source said that there is more to the huge payment than the ostensible reason adduced.
A reliable source claimed that prior to his departure, Ovia embarked on a massive movement of staff within the bank. It was gathered that those who were moved were those who had worked on sensitive transactions, especially in strategic branches and departments, like Treasury and International Operations and holding the bank and its management on hostage with threats to expose illegal deals they had participated in.
The source revealed that a senior manager had actually threatened to expose sensitive information on a particular forex transaction if he was forced to resign. Another had threatened to reveal details of a transaction involving a former African president in one of its branches in a state in the South – South of Nigeria.
Reliable sources divulged that bigwigs in the banking industry have intervened in the matter for it not to escalate to the extent that it will affect other banks

ZAIN IN N25MILLION CONTRACT MESS
One of Nigeria’s telecommunication providers, Zain Nigeria, which has changed its name many times, is in the news again. The latest crisis borders on breach of contract with one of Nigeria’s on-air personality, Femi Sowoolu.
Femi Sowoolu, who is also notable as a voice- over artiste is seeking a legal action against the Oba Otudeko-led company for refusing to pay the sum of N25 million against an agreement reached on a service rendered for the production of the radio and television commercials of the company’s products.
Reliable sources revealed that the contract was awarded to Femi Sowoolu when the telecommunication provider just arrived in the country as ‘Econet Wireless’ few years ago. And after the deal was signed and sealed, the now Continental 102.3 FM’s Director of Radio Programmes was learnt to have produced enough commercial jingles that worth N25million, which lasted Econet for a year.
The jingles, according to the contract agreement, would be aired for five years, but the contract was still on when the company was acquired then by Vmobile, which used the jingle till it metamorphosed into Zain.
An impeccable source added that, while Femi thought he had landed a juicy deal, Econet pulled a fast one on him by having the contract cancelled and offered paltry sum of amount against the N25m agreed on. The cancellation was attached to the change in name of the telecomm company from Econet to Vmobile, later to Vodacom, then Celtel and recently Zain.
Those who should know alleged that when Femi approached Zain about the said debt, he was turned down and told that the company that owed him had liquidated.
Femi was however, said to have turned the table turned around for the telecomm provider when he headed for the courts to seek redress.
Zain was alleged by sources to have stalled the case in order to frustrate Femi, hoping that he would reach a compromise with the company. Though, Zain, which may have spent triple of what should have been paid Femi on the case, is also being alleged of trying to sweep the case under the carpet.
Femi was said to have adopted the slogan of ‘no retreat no surrender’ and has allegedly vowed to see to the end of the case that keeps getting adjournments.
None of the staffers of the company was willing to speak to the press on the matter to avoid being charged for court contempt, while Femi also declined to comment on the matter.

MALTA GOLD CELEBRATES INDEPENDENCE ANNIVERSARY WITH PROMO
With a desire to increase the excitement around Nigeria’s 50th independence anniversary, Malt Gold, a non-alcoholic beverage brand of Sona Breweries, launched an Independence Anniversary Promo aptly tagged, ‘Catch This Offer’ through which it plans to dole out 1.7 million free drinks, 10, 000 footballs,
130, 000 exercise books and 200, 000 biros to its esteemed consumers. The ‘Catch This Offer’ promo which began this month, is scheduled to run till the 31st of October, 2010.
cording to the Group Brand Manager, Mr Clement Agboma, “we are celebrating Nigeria’s Golden Jubilee with great opportunities for our consumers and indeed all Nigerians to win some fantastic instant prizes.” He also said that apart from the prizes that would be won during the course of the promo, the major benefit of the “Catch This Offer” is to reintroduce Nigerians to the nutritious malt drink, which is brewed using 100 percent local produce.
Mr Felix Aighobani, the General Manager of the company added that the objective of the promo was to connect the brand with the consumers across the country. “We are grateful to all our customers who have embraced this new product with consistent patronage.” He described the promo as consumer friendly because the modalities of winning were so simple that anyone in the family would know if they win any of the prizes. “All they have to do is buy a bottle of Malta Gold, look under the crown cork and collect their prize immediately from where they bought the drink if it is a registered dealer or from the redemption centre in their vicinity”. He added that redemptions centers had been created in various locations around the country to make collection of prizes easy for the winners “they are our honored customers and we want to make the experience as pleasant as possible.” According to him, Sona Breweries was birthed in Nigeria for Nigerians and the company’s investment is excelling due to the customers understanding and support of their products, in return the company would continue to be closer to the customers in the various ways so that the synergy from the union would further grow the business which has succeeded in creating employment opportunities for teeming Nigerians in various ways. He said, “the Management of the Breweries who had expressed a desire for a continuous improvement in the efficiency of its functions, sustaining the quality of its brands’ strengthens its relationships with the customers and other stakeholders. Aighobani went on to say that the nutritious family drink is a non-alcoholic malt drink which boasts of vitamins B1, B2, B6 and C for extra energy. “It is made up of malted sorghum, maize, caramel, hops and sucrose – all these combine to make Malta Golda tasty nutritious food drink enriched with vitamins required for good health.
The nutritious malt drink with the distinct color properties of gold, brown and orange is bottled in the traditional 33cl malt drink bottle and packaged in 6 tray packers and 24 bottle crates. It is also available in 33cl aluminum CANS.

INTEGRATED TROOPS BOSS, DEMOLA ADEDOYIN IN PAIN OVER LOSS OF OMO DETERGENT ACCOUNT
The Managing Director of Integrated troops, 'Demola Adedoyin is in pains over the loss of its major accounts from the stable of Unilever PLC, OMO detergent. The account which has been with the company since inception more than five years ago, according to a reliable source, was withdrawn from it due to the poor management of the brand coupled with the removal of the loyalists of the company from Unilever management level after the recent reshuffle of management staff of the company.
Impeccable sources revealed that before his resignation from Unilever, where he was the Activation Manager, Demola used his post to divert the jobs of many products from Unilever to his company, Integrated Troops.
Those who should know divulged that against Demola’s claim that he resigned from Unilever, he was sent packing when it was discovered by the management that he has been using his influence to divert contracts to his personal company, and quote huge amount of money.
Sources revealed that Demola is so much in pain over the loss of the account of OMO detergent because it is the major account of Integrated Troops through which it rakes millions of naira annually from Unilever.
It was also alleged that the first phase of the promotions of OMO detergent, which was handled by his company, produced ghost winners and many items that were to be given to winners were found in the market.
Informants also alleged that OMO Door to Door Stain Challenge promo, which is billed to go across the country, was supposed to be handled by Integrated Troops, but was giving to another agency for activation.
Reliable sources alleged that the reason Unilever continue to give him activation contract was the fact that his company was acquired by Genity Holdings under the management of some foreign guys, but the expatriates pulled out after some months based on. Demola’s attitude towards the expatriate. When a call was put through to Mr.’Demola about the loss of the account on phone, he did pick our call and he did not reply our text message.

TONY ELUMELU FOUNDATION READY TO DEBUT
-Shop for CEO
The Tony Elumelu Foundation, a newly formed charitable foundation dedicated to promoting excellence in business management, entrepreneurship and leadership across Africa, is looking to recruit an inaugural Executive Director/CEO.
The search, which is being conducted globally, will lead to the appointment of a CEO that will direct the affairs of the foundation and be responsible for driving its programmes and raising co-sponsor, alliance and partnership, and executing the crucial first step in implementing the foundation’s strategy.
The foundation aims to act as a catalyst for the high demand of business education and managerial talent across Africa continent and globally. The Foundation intends to do for the corporate world what similar institutions have done for civil society with the objective to establish an institution that will groom business leaders specifically in the African context.
Tony Elumelu is widely acknowledged as one of Africa’s most influential business leaders. He is the creative force behind the United Bank for Africa, responsible for transforming a single country focused bank into a Pan African institution, now serving over 7 million accounts in 16 Africa countries and operating in three continents.
He is a true African agent for change, creating economic empowerment across the continent.
Mr. Tony Elumelu retires from UBA group as chief executive at the end of July 2010. The foundation is therefore an expression of his entrepreneurial vision to create a model institution for the support of business management, entrepreneurship and leadership in the continent.

AVEDGE LIMITED PIONEERED MULTI-MEDIA SERVICES IN NIGERIA
-Omololu Durojaiye, Managing Director
Born and bred in Lagos, Omololu can be rightly addressed as a true son of the soil. After graduating form the Lagos State University, he proceeded to the Nigerian Institute of Journalism he is currently studying for a master’s degree on Media and Communication in Pan Africa University, Lagos. With experience in advertising marketing/production, Omololu delved into a virgin business, Multimedia and Large Screen Services in Africa as a whole few years back and the rest is now history as he renders first of its kind services to multinational brands across the country.
A&B caught up with the hardworking dude in his tastefully furnished office in Ogba, Lagos recently, where he revealed the secret of his success and why he won’t relax on his oars in providing best services.

What inspired you into audio/visual productions
It wasn’t an inspiration, but something that came up due to necessity. It’s a common thing that you see people leaving their places of work to do what his/her boss has been doing. While thinking of what to do, a friend called me and told me there is an audio-visual job was needed to cover major cities in the country. It was a feature film of a multimedia services and being a new line of business in the country, I quickly put things together and now Multimedia and Large Screen Services has really come to stay.

What are the challenges before and after setting up the business
The major challenge is finance. The little money I had when I left my former place of work was used for the purchase of equipments for the job. In the business, the integrity I have built has really made me to survive most challenges. Another challenge is that of structure, from acquiring an office space to even opening of company’s account. Even getting professionals to do the job is another problem. Using third party supply to execute client’s job is the secret of the success of the job. You get to make more profit when you ask the third party to supply all the equipment and personnel. If you try to go through the stress of doing it yourself, you will get it messed up. Moreover, clients won’t give you prior notice, they will only call few hours before the job and tell you they are not paying for the set and you have to deliver to get another job. You don’t have any option than to call a third party and watch them do the job under your supervision.

Who are your major clients
Everybody, when I say everybody what I mean is that Nigeria is a mono-client industry. You have the same set of people given out the job. If it’s not the banks, it will be the telecoms companies. We do individuals too, but not always because doing individual multimedia is always challenging. For example, an individual event won’t give you the space needed for you to set up properly, calculating the amount chairs that ought to occupy that space, but a corporate event knows that audio visual is part of what cannot be ignored. The truth is that an individual will give you your money up front, but this comes with many challenges. I have done a multimedia for an individual who didn’t dance when the party started, but decided to dance when we were parking and the DJ played one of his favourite songs. He insisted that the DJ should continue and he wanted to watch himself on the screen as he danced. Can you stop him from doing so? And this is what cannot happen in a corporate event. Actually, we are restructuring with the intention of going back to my first love, which include production of audio visual, light and documentary and many more.

So, what is your dream for this company
The truth is I will like to build a company that will outlive me, which means by the time I retire, my company will still be existing