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 Adibua's response to the sack below
‘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 records 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
Obi Asika and Olisa Adibua are long time friends and business partners
Obi Asika and Olisa Adibua are long time friends and business partners
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