celebrity radar - gossips
FCMB Founder, Subomi Balogun Is Dead
Published
2 years agoon

FCMB Founder, Subomi Balogun Is Dead
Sadly, the founder of First City Monument Bank {FCMB}, Michael Olasubomi Balogun, is dead.
.
Aged 89, he reportedly died in London this morning.
Chief Michael Olasubomi “Subomi” Balogun (born 9 March 1934) was a Nigerian banker and philanthropist who founded First City Merchant Bank, a company that later became the FCMB group. Balogun was a long time member of the council of the Nigerian Stock Exchange.
He was born in 1934 at Ijebu-Ode, Ogun State, Nigeria to Muslim parents. Balogun converted to Christianity while in secondary school.. He graduated from Igbobi College, and studied Law at the London School of Economics. Before leaving for Europe, he briefly worked as a teacher. As a student in London, Balogun regularly attended fellowships and had the opportunity to meet some noted Nigerians such as Yakubu Gowon before the latter was president.
After earning his law degree, he returned to Nigeria to join the Ministry of Justice, Western Region.From the regional Ministry of Justice where he was a Crown Counsel, Balogun found a new post as a Parliamentary Counsel in the Federal Ministry of Justice.
After the January 1966 coup, he joined the Nigerian Industrial Development Bank. At NIDB, his interest in investment banking led him to advocate for the establishment of a merchant bank sponsored by NIDB. When ICON securities, a merchant banking outfit, was established in 1973 as a subsidiary of NIDB, Balogun moved to ICON Ltd as a director of operations. When Balogun’s ambition to head ICON was not realised, he left he firm to found City Securities, a stock broking and issuing house. City Securities developed relationships with Mobil, Texaco and Total petroleum marketing companies, handling the companies equity offerings. In 1979, he applied for a merchant banking licence to establish First City Merchant Bank. Balogun was inspired by the entrepreneurial works of Siegmund Warburg. He visited Warburg in London prior to establishing his merchant bank.He often tells the anecdotal story of how his son inspired him to take the leap in starting the bank. When the operations of the bank took effect in 1983, Balogun established an entrepreneurial culture at the new bank, unique as an owner-managed bank in contrast to the government owned banks at the time.
Balogun built a National Pediatric Centre in Ijebu-Ode that he donated to the University of Ibadan’s, University College Teaching Hospital.
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celebrity radar - gossips
Mercy Chinwo Slams N1.1 Billion Lawsuit Against Social Media Critic VeryDarkMan Over Defamation
Published
10 hours agoon
March 6, 2025Mercy Chinwo Slams N1.1 Billion Lawsuit Against Social Media Critic VeryDarkMan Over Defamation
Renowned gospel singer Mercy Chinwo has taken decisive legal action against controversial social media commentator, VeryDarkMan (VDM), suing him for N1.1 billion over alleged defamation. The lawsuit, dated March 3, follows a series of Instagram posts in which VDM accused Chinwo of withholding earnings from her performances instead of remitting them to her former record label, EeZee Concept, owned by Ezekiel Onyedikachukwu, popularly known as EeZee Tee.
VDM further alleged that Chinwo violated contractual agreements before parting ways with the label, claims that her legal team has strongly refuted. According to her lawyer, Pelumi Olajengbesi, VDM had no direct involvement in the dispute yet made “libelous, malicious, and damaging” statements that tarnished the singer’s reputation.
“The claimant avers that she has neither had any form of relationship with the defendant nor was the defendant involved in the issue between the claimant and EeZee Tee in any material particular,” the legal document states.
Chinwo is demanding N1 billion in general damages, N100 million in punitive and aggravated damages, and an additional N25 million to cover legal expenses. The lawsuit also calls for VDM to delete the alleged defamatory posts, issue a public apology, and publish retractions in four national newspapers for 14 consecutive days.
The legal battle stems from an ongoing dispute between Chinwo and her former label, EeZee Concept, over financial disagreements following her departure. Chinwo had previously accused EeZee Tee of mismanaging approximately $345,000 from her digital platforms and events without proper disclosure or remittance. While EeZee Tee has denied the allegations, he later called for an audit to address concerns of financial misconduct.
Amidst the controversy, a federal high court in Lagos upheld an arrest warrant against EeZee Tee on February 17, with the case adjourned until March 6. The escalating legal drama continues to unfold, drawing significant public attention to the gospel music industry and the contractual disputes between artists and their former labels.
As the legal proceedings move forward, industry watchers await the next developments in what has become a high-profile case of defamation, financial accountability, and artist-label relations.
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celebrity radar - gossips
Senate Turmoil: Fasuyi’s Claims on Fayemi’s Petition Sparks Outrage
Published
10 hours agoon
March 6, 2025Senate Drama Unfolds as Senator Cyril Fasuyi Announces Petition from Kayode Fayemi Against Natasha Akpoti-Uduaghan
In a dramatic turn of events at the Nigerian Senate plenary session, Senator Cyril Fasuyi, representing Ekiti North Senatorial District, declared that former Minister of Mines and Steel Development, Dr. Kayode Fayemi, intends to present a petition against Senator Natasha Akpoti-Uduaghan over allegations concerning the Ajaokuta Steel Company.
Senator Fasuyi, while making his statement, invoked Psalm 34:19, saying, “Many are the afflictions of the righteous, but the LORD delivers him from them all.” He proceeded to announce that Fayemi would be officially submitting a petition to counter what he termed as a false accusation made by Senator Natasha, alleging that Fayemi sold the Ajaokuta Steel Mill during his tenure as Minister.
“Mr. Senate President, before I say what I want to say, I want to refer you to Psalms 34 line 19. My President, I want to bring up a case that happened when my former governor was ex-Minister of the Federal Republic. I want to say this: that my former governor is going to bring a petition on the allegation that Senator Natasha claimed he (Fayemi) sold Ajaokuta Steel Mill.”
Fasuyi further emphasized that as of today, Ajaokuta Steel remains the property of the Federal Government, dismissing any claims that Fayemi sold it while in office.
However, in a swift reaction, Fayemi’s media office categorically denied any plans to submit such a petition and rebuffed any claims of misconduct against him. A statement signed by Mallam Ahmad Sajoh, head of Fayemi’s media office, clarified the former minister’s position, accusing Senator Fasuyi of misrepresenting facts.
Fayemi Responds, Denies Petition Claims
The statement reads in part: “We have become aware of a statement made by Senator Cyril Fasuyi during today’s Senate plenary, in which he alleged that Senator Natasha Akpoti-Uduaghan had previously accused Dr. Kayode Fayemi of sexual harassment. We categorically state that this claim is entirely false. At no time has Senator Akpoti-Uduaghan—or anyone else, for that matter—ever accused Dr. Fayemi of such misconduct.”
It further clarified that the only interaction between Fayemi and Senator Akpoti-Uduaghan was during his tenure as Minister of Mines and Steel Development, where discussions strictly revolved around policy matters concerning the Ajaokuta Steel Company. The statement emphasized that while differences in opinions may have existed, there were no allegations of personal misconduct or wrongdoing against Fayemi.
The rebuttal also urged Senator Fasuyi to verify facts before making public statements, especially on issues that could potentially tarnish reputations. “We urge Senator Fasuyi to exercise greater diligence in verifying facts before making public statements, especially on sensitive matters that could damage reputations,” the statement read.
The controversy adds another layer to the ongoing debates around the fate of Ajaokuta Steel and the political undercurrents shaping discourse in Nigeria’s legislative chambers. It remains to be seen whether Senator Fasuyi will retract his statements or proceed with the alleged petition, despite Fayemi’s office distancing itself from the claims.
Signed
Mallam Ahmad Sajoh
Head, Fayemi Media Office, Abuja
March 5, 2025
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celebrity radar - gossips
Daddy Freeze Sparks Controversy Over Sophia Egbueje’s Lamborghini Mileage
Published
1 day agoon
March 5, 2025Daddy Freeze Sparks Controversy Over Sophia Egbueje’s Lamborghini Mileage
Popular media personality, Daddy Freeze, has once again sparked reactions on social media after exposing the mileage of the newly acquired Lamborghini belonging to socialite Sophia Egbueje.
It would be recalled that Sophia had earlier revealed she purchased the luxury vehicle after Nigerian music star Burna Boy failed to fulfill his promise of gifting her one. She proudly shared images and videos of the car’s delivery on her Instagram page, drawing admiration and congratulatory messages from fans and followers.
However, in a surprising twist, Daddy Freeze took to social media to reveal that the car was not as ‘new’ as many believed. Sharing a snapshot of the vehicle’s dashboard, he disclosed that the odometer reading stood at 46,433 miles.
Mileage Controversy
For context, mileage on cars typically represents the total distance a vehicle has traveled since its purchase. It serves as an essential factor in assessing a car’s newness, overall condition, and market value.
Highlighting this, Daddy Freeze sarcastically congratulated Sophia while emphasizing the high mileage count. He wrote:
“Congratulations, our new Lambo has 46,433 miles 🙏 – 46,433 miles = 74,726.67 KM yaaay we are winning! 🥇”
Mixed Reactions Trail Daddy Freeze’s Post
As expected, the revelation sparked a flurry of reactions from social media users, with many divided in their opinions.
Some ridiculed Sophia over the mileage, suggesting that the car was far from being brand new, while others defended her, arguing that a Lamborghini remains a luxury vehicle regardless of its mileage.
Here are some notable reactions:
- @adelakuntufayl: “Just like herself, the car has gone through a whole lot allegedly 😂😂😂”
- @abk_sadiq01: “She get Lambo abi she no get?”
- @plato_15: “😢 It was 0 miles but they drove it down from ‘the abroad.’ Hence the increase in mileage.”
- @simeon_black: “It doesn’t change the fact that it’s a Lambo. Nothing wrong with the mileage. Make una rest abeg.”
- @emeka.daniels: “No one is talking about better government practices, hike in prices of goods et al…”
Luxury or Not? The Mileage Debate
While some argue that mileage is an indicator of how ‘new’ or ‘used’ a vehicle is, others maintain that what truly matters is the car’s make and model.
Lamborghinis, being high-performance luxury cars, often retain significant value regardless of mileage, especially if well-maintained. Some have pointed out that high-mileage luxury cars are common, particularly when imported from abroad.
Despite the controversy, Sophia Egbueje has yet to directly respond to Daddy Freeze’s post or the debate surrounding her Lamborghini. However, her fans and supporters continue to celebrate her latest acquisition, regardless of the mileage discourse.
As the discussion rages on, one thing is certain: Daddy Freeze has once again managed to stir the pot and keep social media buzzing over celebrity lifestyles and luxury purchases.
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