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Risikat Adeniyi Adegeye, the wife of ace music legend King Sunny Ade is currently embroiled in a legal battle over a N45.4 million debt, being the alleged outstanding amount due on a loan facility advanced to her by Sterling Bank in 2008.

According to a report by The Lagos Times , she is in court to contest an order granted the Asset Management Company of Nigeria ( AMCON) to take temporary possession of the property which was used as collateral to secure the loan. Through her lawyers she is claiming that the ex parte application filed by AMCON and the subsequent court judgement were obtained without recourse to due process.

According to the court papers, she had sometime in 2008 secured a loan facility of N23 million from Sterling Bank which she augmented with her own funds to purchase a property valued at N33 million. The property located at Plot A2, House 3, Adonai Tekts Estate, Central Business District, Alausa Ikeja was duly bought and also served as guarantee for the loan.

In a sworn affidavit presented to the court by George Fola Adeniyi, one of Madam Risikat’s children, she averred that she had been dutifully servicing the loan since inception and had even asked her bank manager to furnish her with her loan statement of account to enable her ascertain and liquidate the balance of her loan repayment.

The plaintiff claimed that the bank never provided her with the statement, instead unilaterally passing off her debt to AMCON in 2011. She also claimed that AMCON has since then been imposing unilateral and extortionate interest on the loan balance without carrying her along. Moreover, she contended, she was not served notice when the organization filed an exparte application to take over the mortgaged property.

She therefore prayed the honourable court to set aside the February 22nd 2018 ruling which granted temporary possession of the house in contention.

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Governor Abdulrazaq Commits To Hosting 2025 BON Awards, Makes History As First To Host Consecutive Editions [PHOTOS]

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Governor Abdulrahman Abdulrazaq has announced his agreement to host the 2025 edition of the Best of Nollywood (BON) Awards in Ilorin, making him the first Governor in the event’s history to host it for two consecutive years. The Governor expressed his admiration for the 16th BON Awards, praising the event’s vibrant atmosphere and the engaging after-party that showcased the rich cultural and creative potential of Kwara State.

Held at the state-of-the-art Sugar Factory Film Studio in Ilorin, the BON Awards brought together top talents and stakeholders from Nigeria’s movie industry. Governor Abdulrazaq, who personally presented the Lifetime Achievement Award to Nollywood icon Kanayo O. Kanayo, commended the organizers for their professionalism and the remarkable success of the event.

“The BON Awards have shown the immense possibilities of Ilorin as a center for creativity and entertainment. I was thrilled by the energy, talent, and warmth that defined this year’s edition. The after-party further reinforced our vision of Kwara as a hub for the creative economy, tourism, and hospitality,” the Governor said.

Governor Abdulrazaq emphasized his desire for Ilorin to become the permanent venue for the BON Awards, citing the city’s unique blend of modern infrastructure, serene environment, and rich cultural heritage.

“I would be honored to host next year’s edition of the BON Awards and beyond. Ilorin is ready to offer unmatched facilities and an enabling atmosphere to support events of this magnitude. With landmark projects like the Sugar Factory Film Studio, Visual Arts Centre, and remodeled Kwara Hotel, we are poised to set a new standard for hosting creative events,” he added.

The Governor extended his appreciation to the Nollywood stars and stakeholders for their significant contributions to the Nigerian creative industry and their warm embrace of Kwara as a destination for film and entertainment.

“We invite the creative community to consider Kwara not just for future productions but also as a home for their endeavors. Together, we can build a creative hub that reflects our shared aspirations for excellence and innovation,” he concluded.

The 16th BON Awards, which featured celebrated actors such as Femi Adebayo, Mercy Aigbe, Toyin Abraham, and many others, was a resounding success, with winners and attendees alike applauding the state’s infrastructure and hospitality.

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BREAKING: Legendary Music Producer Quincy Jones Dies At 91

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Quincy Jones, a renowned music producer and composer, passed away on Sunday, November 3, 2024, in California. He was 91 years old.

His publicist, Arnold Robinson, confirmed the news without disclosing the cause of death.

“Tonight, with full but broken hearts, we must share the news of our father and brother Quincy Jones’ passing. And although this is an incredible loss for our family, we celebrate the great life that he lived and know there will never be another like him,” the Jones family said in the statement. “He is truly one of a kind and we will miss him dearly; we take comfort and immense pride in knowing that the love and joy, that were the essence of his being, was shared with the world through all that he created. Through his music and his boundless love, Quincy Jones’ heart will beat for eternity.” he said in a statement.

 

More to come…

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Femi Kuti Names Obasanjo, MKO Abiola Family’s Enemies

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Afrobeat star, Femi Kuti has pointed out that his own ethnic group, the Yoruba, has been the biggest adversary to his family.

Speaking at the 2024 Felaberation Festival in Lagos, Femi specifically mentioned former President Olusegun Obasanjo and the late businessman MKO Abiola as significant enemies of the Kuti family.

He acknowledged his father and grandmother as prominent Pan-Africanists, further emphasizing that his family was raised without tribalistic tendencies, drawing inspiration from Pan-Africanism.

Addressing the crowd, Femi stated, “Brothers and sisters, something very important is going on in our lives; ethnic problems. You call it tribalism. Please, do not bring the Anikulapos in your stupidity.”

He continued by saying, “We grew up with Dr. Kwame Nkrumah, Marcus Garvey, Patrice Lumumba, Mrs Funmilayo Ransome-Kuti, and Fela Anikulapo-Kuti.

“Pan-Africanism was the order of the day. So, I didn’t grow up being sentimental. I saw good people, bad people. I’ve got great European friends, I’ve got terrible European friends. I’ve got great African friends, I’ve got terrible African friends.

“One of our [the Kuti family’s] greatest enemies as you know are Yoruba people; Obasanjo or Abiola. We are not tribalistic in our family.”

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