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Hostile Takeover: A Failed Plot to Seize Control of the ILÉ IYÁN Brand”

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A FAILED ATTEMPT TO HIJACK THE ILÉ IYÁN BRAND

Hostile Takeover: A Failed Plot to Seize Control of the ILÉ IYÁN Brand”

 

Under the leadership of Sheriff Sanni, aka Sannikayz, ILÉ IYÁN has become an iconic brand, captivating over 12 million social media engagements worldwide and achieving remarkable growth in revenue and brand equity. This brand, recognized both locally and internationally, has served distinguished clientele, including high-net-worth individuals, government officials, corporate organizations, and A-list celebrities in entertainment. With over 15 years of experience in the hospitality industry, Sannikayz has built ILÉ IYÁN into a thriving, well-respected establishment promoting the Arts, Culture and Tourism in Nigeria and also celebrated for its excellence and integrity locally and Internationally.

 

Yet, in a desperate bid to silence the truth and stifle justice, brand hijackers and their paid voices have spun a web of falsehoods against Sannikayz, distorting the narrative in the public eye.

**False Claims of a Six-Month Rift with Initial Co-Founder**
The rumor mills claim that Sannikayz’s relationship with his initial investor soured within six months, suggesting a pattern of untrustworthiness with investors. In truth, this investor contributed N5M and has always maintained a warm, respectful relationship with Sannikayz till date. They both hold each other in high regard, and the surrender of shares was carried out through mutual agreement.

**Myth of Sannikayz Seeking Investment from Olasunkanmi Mustapha, aka Musty**
It is a blatant falsehood to claim that Sannikayz approached Musty for investment. In reality, Musty—through his staff Princess Michelle, a long-time customer—persistently pursued Sannikayz, keen on investing in ILÉ IYÁN’s expansion. Initially, Sannikayz was hesitant to allow Musty’s involvement, but Musty persisted, using unsolicited gifts to Sannikayz’s relatives as a ruse to appear trustworthy. This facade masked his true intent: an attempt to hijack a thriving business built on years of Sannikayz’s hard work.

 

**Inflated Claims of Musty’s Hospitality Credentials**
Musty’s narrative of 20 years of hospitality experience lacks any tangible proof. The restaurant he previously managed in Ikeja ended abruptly, leaving no credible brand or legacy in its wake. Unlike industry leaders with notable projects, Musty has no significant presence in the hospitality world. Hijacking ILÉ IYÁN appears to be his opportunistic plan to build a fictitious reputation on the back of another’s accomplishments.

 

**Unjust Share Allocation for Musty**
At the time of Musty’s entry, ILÉ IYÁN had evolved into a household name for premium pounded yam, with substantial brand value. Based on this valuation, Musty’s investment should have earned him a mere 20% share, yet Sannikayz generously granted him 30%, believing in Musty’s supposedly genuine intentions.

**Concealed Financial Gains and Exploitation of Resources**
Since his initial investment, Musty has received substantial returns: in December 2023, ILÉ IYÁN paid him N2,020,306 in profit from just the Lekki branch, followed by a total of N14,964,291 in March 2024 from both branches. Yet, Musty’s family which includes his wife Abiola Mustapha, his brother Pelumi Mustapha, his wife’s Niece and close associates Ayoola Ajuwon, Jaiyeola Ayoola-Ajuwon were placed on inflated salaries for minimal work, costing the business N4,710,000 monthly even Musty (the investor ) was earning N1,000,000 monthly. They disregarded corporate governance and fostered nepotism, placing two couples on the management team—decisions that disrespected ILÉ IYÁN’s established culture and principles.
Total payments made to investor from profit sharing and Management fees is over N30M which is close to 40% of his initial investment of N80,000,000.

**Harming ILÉ IYÁN’s Reputation**
Under Musty’s management, the Ikeja branch saw a downturn, with complaints piling up. One manager, Emmanuel Oluwabusayo, hired by Musty’s wife, even assaulted a female employee, resulting in a public scandal on a human rights blog. Despite Sannikayz’s pleas to dismiss the manager, Musty’s team retained him, prioritizing profit over integrity and brand reputation. This situation compelled Sannikayz to halt ILÉ IYÁN’s Canada expansion and return to Nigeria to address these crises.

 

**Exploitation of ILÉ IYÁN’s Brand Name**
Behind closed doors, Musty and his wife falsely presented themselves as owners of ILÉ IYÁN, and even attempted to position the brand as a subsidiary of Musty’s company. When asked to sign a shareholder agreement, Musty refused and instead led armed men to shut down ILÉ IYÁN’s Ikeja GRA branch, assaulting staff and deleting CCTV footage. Some of the staff were administered Post Traumatic Stress Disorder ( PTSD ) first aid and also one Emily Balogun also reported to be Injured by one of the armed men. She was also reported to suffer a neck injury during this tragic event. The Founder, Sannikayz filed a Petition against Musty at the Office of The Commissioner for Police, Lagos State Command. He later went ahead to establish a replica company, “ILÉ IYÁN by PODS,” hoping to erase the original brand and replace it with his counterfeit venture.

**Increased Costs and Employee Exploitation**
Between February and April 2024, ILÉ IYÁN was unknowingly paying salaries to Musty’s staff under the guise of management fees. These individuals increased operational costs, engaged in dubious procurement practices, and disrespected employee rights, especially targeting individuals they deemed “poor” or “female”—values antithetical to ILÉ IYÁN’s founding principles of respect and inclusivity.

 

Food Handlers Test and Staff Hygiene.

As part of ILÉ IYÁN’s commitment to maintaining the highest standards of food safety and customer service, all staff members are required to complete a Food Handlers Test and attend Customer Service Training periodically.
These claims are false accusations in a-bid to tarnish the ILÉ IYÁN’S brand reputation.

**The Myth of “Japa” to Canada**
It’s either ignorance or calculated malice to claim that Sannikayz abandoned ILÉ IYÁN for Canada. In fact, the plan for an international presence was mutually agreed upon to reach the Nigerian diaspora, beginning with Canada. During this official trip, Sannikayz remained in close contact with Musty, discussing registration and market strategies for the Canadian outlet.
Sannikayz also frequents Nigeria to monitor closely the growth and development of the ILÉ IYÁN Nigeria brand. This is also not limited to the his attendance at the GTbank Food and Drinks Event 2024 and other Hospitality related activities ultimately for the overall progress of the Company.

**Baseless Claims of Unpaid Debts**
Musty’s accusations of unpaid debts are not only false but an attempt to manipulate public sentiment. Outside his initial investment, no additional funds were extended by Musty’s company.

**False Allegations of Lavish Lifestyle**
In today’s social media era, Sannikayz’s lifestyle is anything but secretive. Claims of excessive spending are baseless, without any proof to support them. Sannikayz is a seasoned and prudent entrepreneur whose dedication to his business has always taken precedence.

 

**Musty’s Attempt to Wipe Out ILÉ IYÁN’s Legacy**
In a final move to erase Sannikayz’s legacy, Musty’s company filed a petition to dissolve ILÉ IYÁN. Yet, when confronted by Sannikayz’s legal team, Musty’s lawyers began to foot-drag with the court even awarding costs against them for time-wasting. His plan to hijack the brand through family appointments, staff mismanagement, and frivolous lawsuits fell apart, underscoring that one cannot steal another’s hard-earned success and prosper.

The ILÉ IYÁN NIGERIA brand has also made Legal action against Musty and his entities at the State and Federal High Courts for breach of contract, trust and agreement and passing off.

 

There are also numerous reports from other Founders who have suffered similar exploitation at the hands of Musty. His reputation for using police intimidation and scare tactics to coerce young Nigerian entrepreneurs into surrendering their businesses has left a trail of victims. This alarming trend, and the story of ILÉ IYÁN’s attempted hijacking, serves as a rallying call to protect Nigerian entrepreneurs from malicious individuals like Musty.

 

 

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions

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*GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions*

By Osho Oluwatosin

The internet has literally been on ‘fire’ since Friday following the arrest of self-acclaimed Nigerian activist, Martins Vincent, also known as Very Dark Man. He was reportedly picked up by the Economic and Financial Crimes Commission (EFCC) for reasons yet unknown.

While it’s not the first time VeryDarkMan or any prominent Nigerian would be arrested by the EFCC — a government agency not under the authority of any private organization — it seems some Nigerians are passionately trying to push a narrative that his arrest was orchestrated by one of Nigeria’s biggest financial institutions, Guaranty Trust Holding Company (GTCO).

Although this narrative isn’t far-fetched — VDM had criticized the bank due to ‘mysterious’ deductions from his mother’s bank account for unjustifiable reasons. He approached the bank’s branch in Abuja to make an official complaint and, afterwards, he was picked up by the EFCC. But what many Nigerians have failed to realize is GTCO may not even be involved in his arrest.

VeryDarkMan was seen in the bank, quite alright, but in a CCTV released by the bank, he was seen moving out of the bank when he finished. He even had a celebrity moment with some of his followers who took pictures with him before he was arrested. So I’m wondering, what has GTB got to do with his arrest? That someone got knocked down by a vehicle after leaving church, does it mean the church orchestrated the accident? That someone got attacked after leaving a lecture room, does it mean the lecturer orchestrated it? That someone even got attacked in a courtroom, does it mean the judge orchestrated it? Absolutely not.

Although it would have been better if the EFCC had come out to clear the air regarding the reason for VDM’s arrest, because in the absence of information, rumours are bound to thrive. In fact, the commission should have actually released a statement regarding these rumours, not to vindicate GTB, but to keep Nigerians informed.

Let’s even think about it logically: what can warrant GTCO to order VDM’s arrest by the EFCC? Did he defraud GTCO? Did he steal from a GTB customer? Did he launder money through a GTB account? These are questions that should be asked before passing judgments. But Nigerians are always emotional when it comes to issues like this, and that’s why people who are culpable in serious crimes get away with anything as long as they get involved in charity or activism.

GTCO has been a very friendly organization, and in 2024 alone, the bank paid a record dividend of N8 per share. The bank is happy, shareholders are happy, customers are happy — who is Very Dark Man?

Osho Oluwatosin is a Nigerian journalist and writes from Lagos.

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Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

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Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

In February of this year, I needed to open a new bank account for salary purposes, as required by the management of the new company I had just joined.

I considered First Bank, Access Bank, and Sterling Bank. After some thought, I chose Sterling Bank—not because I found them superior—but because I believed they had fewer customers, which I hoped would save me from long queues and unnecessary delays.

I visited the Sterling Bank branch at Akowonjo to open the account. Unfortunately, the staff member who attended to me didn’t inspire confidence. She appeared distracted—smiling at her phone, clearly engrossed in a private chat—far from the level of professionalism one would expect in a bank setting. I had a feeling this would lead to problems down the line.

 

When my first salary was paid into the account, my suspicion was confirmed. Sterling Bank restricted access to my funds—I couldn’t transfer money or make withdrawals at the counter. I visited their Fatai Atere branch at Ladipo, Mushin to complain, where I was informed that the account opened for me was a “Kaikai” account—a type I had never heard of. Apparently, this account type is meant for individuals who lack the required documents during account creation. But I had submitted all necessary documents, so why was such an account opened for me?

Can We Have More Bankers Like Victoria Mulero? An epitome of 'omoluabi'

At the Fatai Atere branch, I was attended to by a remarkable banker named Victoria Mulero. She requested my NIN, which I didn’t have on me at the time. Rather than send me back home, she asked if I had a digital copy. I did, and she graciously gave me her email address so I could forward it to her. With that, she resolved the issue promptly and professionally.

However, the following month, in March, the same restriction happened again. I returned to the Fatai Atere branch, and once again, Victoria Mulero handled my complaint with efficiency and kindness, resolving it without delay.

I hoped the matter was finally settled, but when my April salary arrived, the restriction was imposed yet again. This time, I was beyond frustrated and ready to replace Sterling Bank as my salary account. Still, I visited the Fatai Atere branch one last time. Once more, Victoria Mulero resolved the issue with grace and determination.

This write-up is a tribute to Victoria Mulero of Sterling Bank, Fatai Atere branch. She is a rare gem—respectful, diligent, and genuinely customer-focused. She went above and beyond, following up with the Akowonjo branch through calls and emails until the matter was fully resolved. She handled every situation with patience and empathy, treating the job as if the bank belonged to her family.

To be honest, I’ve had unpleasant experiences with many bankers, especially female staff. Too often, they carry personal frustrations into the banking hall and take it out on customers. But Victoria is different. She exemplifies what true customer service should be.

We may not all be the same, but treating people with respect and kindness is a skill that can be learned—and Victoria clearly has. Let’s celebrate her for being a model professional and a beacon of hope in an industry that too often lacks empathy.

Without any fear of contradiction, I say boldly that Victoria Mulero is a good ambassador of Sterling Bank and her parents too deserve encomium for raising a well trained daughter and impacting an attitude of ‘ omoluabi’ in her. We need more of Victoria Mulero in our banking industry.

Seun Jacob Ogunbiyi
Known as Olùkọ́, the therapeutic writer and Lagos based journalist

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Air Peace Airlines’ failure to adhere to scheduled departure times results in prolonged delays …causing undue hardship for Nigerians on board

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Air Peace Airlines' failure to adhere to scheduled departure times results in prolonged delays ...causing undue hardship for Nigerians on board ~Oluwaseun Fabiyi

Air Peace Airlines’ failure to adhere to scheduled departure times results in prolonged delays
…causing undue hardship for Nigerians on board

~Oluwaseun Fabiyi

Traveling is undoubtedly the most effective form of education, enabling individuals to observe human quirks from diverse perspectives

On Saturday, 3rd May 2025, an Air Peace Airlines flight from Akure Airport was delayed, causing undue inconvenience to a Nigerian traveller and a prominent Nigerian man of God, an unfortunate incident that befell the nation’s citizens

Does Nigerian law consider it a criminal offense for travelers to book flights with Air Peace, a leading Nigerian airline, instead of other airlines that fail to depart on schedule, such as remaining at 10am instead of departing at 10am? Certainly, some Nigerian citizens may opt to travel with airlines like Arik, Aero, Dana, rather than Air Peace.

Air Peace Airlines' failure to adhere to scheduled departure times results in prolonged delays
...causing undue hardship for Nigerians on board
~Oluwaseun Fabiyi

It is evident that many Nigerians actually believe Air Peace airline came to rescue Nigerians from the subpar fly-and-die experience of other airlines, such as Dana, which is why many have fallen in love with Air Peace Airlines’ domestic operations

 

Air Peace Airlines’ decision to reschedule a 12:00 flight from Akure in Ondo State to 3:00 on Saturday, 3rd May 2025, has been met with disappointment from some affected Nigerian passengers, who deem this change unreasonable and unjustified.

Nigeria is hindered by self-imposed challenges that impede our collective advancement. I remain optimistic that future leadership will emerge, focusing on nuanced details that cumulatively enhance the lives of citizens, including access to housing, affordable food, petrol, quality healthcare, and a decent standard of living. The fact that we produce rice, only to have its price inflated by some, thereby rendering it unaffordable, is a pressing concern

It is baffling to me why some people or airlines deliberately provide poor services, causing undue hardship for their passengers, without taking the courtesy to apologize

How can passengers ensure they arrive at Akure Airport by 10 a.m. to catch a 12 p.m. flight from Akure to Lagos and complete check-in as usual

Only for them to fall victim to an extremely harrowing experience. The first indication was the outrage of a passenger at the Nigeria Air Peace counters. He yelled at the ticketing officials that his time had been wasted by three hours and demanded to be refunded his money, as his business was equally affected.

The scene was remarkably congested, and indeed there was an exceedingly large number of passengers traveling to Lagos on this particular Air Peace flight.Which none of them can comprehend what could cause a delay from 12 O’clock to 3:15 pm, without considering individuals with an assignment or occasion in Lagos, is so crazy and devastating.

*How Passengers suffer through endless delays waiting for Air Peace aircraft.*

Accordingly, they embarked on an extended wait after Air Peace notified them that the flight had been postponed by an hour. Ultimately, the delay proved to be three hours, with the flight arriving at 3:30 pm, followed by the commencement of boarding procedures

On a final note the Nigerian aviation industry, including airlines, can certainly improve their treatment of fellow Nigerians

Onboard passengers display concern and raise eyebrows.

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