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ILÉ IYÁN Nigeria Limited Issues Public Statement

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ILÉ IYÁN Nigeria Limited Issues Public Statement: Warning Against Brand Impersonation and Clarifying Controversies

ILÉ IYÁN Nigeria Limited Issues Public Statement: Warning Against Brand Impersonation and Clarifying Controversies

 

 

The attention of Ile Iyan Nigeria Limited (“Company” or “ILÉ IYÁN”) has been drawn to insinuations on social media that ILÉ IYÁN is now owned and controlled by some entities. The peddlers of this untrue information have also alleged that the Founder/MD/CEO of the Company has been sued for misappropriating the funds of the company and mismanaging the company.

 

 

ILÉ IYÁN Nigeria Limited Issues Public Statement: Warning Against Brand Impersonation and Clarifying Controversies

We wish to inform our esteemed customers and the general public that such information is untrue and is being sponsored by mischief makers to obfuscate the real issues surrounding a failed attempt to hijack ILÉ IYÁN and its brand by some investors and minority shareholders of ILÉ IYÁN.

 

For the avoidance of doubt, seventy (70%) percent of shares in ILÉ IYÁN is owned by the founder/MD/CEO – Sanni Sheriff Kolawole aka Sannikayz. Sannikayz as Founder has invested over 15 years of service into the food catering business. He has successfully catered for numerous customers and driven the business from start-up level to the great height ILÉ IYÁN holds today.

 

The restaurant’s unique blend of tradition and innovation has captivated diners from around the world, earning it a place of distinction within the culinary landscape. As ILÉ IYÁN continues to thrive and evolve, the Founder remained steadfast in his dedication to upholding the brand’s core values and preserving its storied legacy.

 

In the face of adversity, the spirit of ILÉ IYÁN endured in its commitment to celebrating Nigerian culture and fostering a sense of community. The ILÉ IYÁN brand has gained over 5,000,000 engagements across all social mediaj platforms: Facebook, Twitter, and Instagram.
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Going by the success and uniqueness of thej Brand, an Investor approached the Founder in October 2023, to invest in the Company, upon completion of deliberations, the Founder and the Investor agreed that the Investor would invest some funds in the ILÉ IYÁN in exchange for thirty (30%) percent shares in ILÉ IYÁN. By virtue of the investment, the Investor became the holder of 30% shares in ILÉ IYÁN while the Founder held 70% shares in ILÉ IYÁN.

 

Worthy of note is that after the investment, the Founder and the Company ensured that the Investor was paid hugeprofit every quarter as return on investment.

 

Few months after the investment, the Founder travelled outside the country on a short trip to attend to some family obligations. As expected, the Founder handed over interim management of the Company to the Investor for ease of operations. However, upon the Founder’s return, the Founderdiscovered that the Investor has mismanaged the fortune of the Company by jerking up running cost unreasonably and distorting the founding values of the business.

 

This was to the extent that the Investor was rewarding its associates at the detriment of the business.In fact, a designee of the Investor was reported to have assaulted a female staff of ILÉ IYÁN and this resulted in a bad reputation for the Company. Having considered all these issues, the Company was compelled to ask the Investor and its management team to cease interim management of the Company, moreso, the Founder has returned to Nigeria from his trip abroad.

 

The decision of the Company to stop management by the Investor did not obviously go well with the Investor and its team. The Investor deployed several gimmicks such as refusing to sign a shareholders’ agreement, hijacking ILÉ IYÁN social media handles, locking up the Company’s outlet in Ikeja, evicting in-house staff at midnight, writing ILÉ IYÁN’s Bankers to freeze the Company’s account. In a show of desperation, the Investor also instituted a Winding-Up action with the intention of winding up the Company and destroying the heritage of the business.

 

While all these were ongoing, the Investor had secretly incorporated another Company with a very similar name to do the same business in the ILÉ IYÁN Ikeja outlet. The Investor started poaching ILÉ IYÁN’s staff, using the ILÉ IYÁN’s model, social media handles, furniture and business patterns to deceive members of the public and make them patronise the new company under the belief that they were patronising the real ILÉ IYÁN.

 

To further whip public sympathy, the Investor started propaganda on social media that the Founder mismanaged ILÉ IYÁN and abandoned ILÉ IYÁN after receiving investments from Investors.

 

The development has forced ILÉ IYÁN to commence legal actions against the Investor, its promoters and its new company. As a law-abiding institution, we are mindful of the fact that when the Court is seized of a matter and it behoves on the parties to allow the Court to decide the matter. This legal responsibility made ILÉ IYÁN Nigeria Limited to avoid social media reactions to the issues surrounding the forceful closure of its Ikeja outlet and the purported re-opening of another company in Ile Iyan’s Ikeja Outlet. We believe in the judicial system, and we are hopeful that justice will be served at the end of the day.

 

We assure our customers that we are diligently pursuing justice in Court and we will continue to pursue justice within the ambits of the law. We will keep our esteemed customers and the public abreast of developments in the ongoing litigations. In the meantime, we wish to advise our customers that at this moment, only ILÉ IYÁN Lekki outlet is open. ILÉ IYÁN Ikeja is closed and any person/entity representing itself as ILÉ IYÁN Ikeja is an impostor passing off on the original ILÉ IYÁN brand. We urge our customers and the general public to be cautious and mindful of the gimmicks of these impostors who use our model, waiter’s dress code, style, similar menu etc.

 

As a business, we remain committed to delivering excellent and memorable experiences to our esteemed customers even in these times. We are committed to quality and exemplary service, and we will not be deterred by the propaganda and gimmicks of those who seek to take over our labour of a decade and half.

 

We urge the public to continue to reach us via
ileiyan234@gmail.com
info@ileiyan.ng
complaints@ileiyan.ng
08100244709.
www.ileiyan.ng

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Business Tycoon, Egungbohun Calls for Greater Investment in Technical Education to Combat Unemployment

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Business Tycoon, Egungbohun Calls for Greater Investment in Technical Education to Combat Unemployment*

Business Tycoon, Egungbohun Calls for Greater Investment in Technical Education to Combat Unemployment*

 

 

Nigeria foremost Businessman and philanthropist Alhaji Ibraheem Dende Egungbohun (IBD) has called on government at all levels to continue to make vocational and technical education more attractive to youths in order for the Country to meet up with the global industrial challenges.

 

Alhaji Egungbohun made the call while speaking to Journalists after he was conferred with the Ogun State Institute of Technology, OGITECH, Igbesa fellowship award.

Business Tycoon, Egungbohun Calls for Greater Investment in Technical Education to Combat Unemployment*

Represented by his spouse, Chief Egungbohun also challenged government to make technical and vocational education more enticing to the youths to solve the challenge of unemployment.

He noted that many developed countries now prioritize vocational and technical education as against issues that are not beneficial to the youths while also saying that the move would make the youth self-reliant.

His words, “It is only through vocational and technical education that the youth can get entrepreneurial knowledge to stand and work on their own. Government should then make it more enticing to the youth. It is the way forward for this country to end this youthful restfulness.”

He commended the Ogun State government for placing high premium on Education and the current revitalisation of technical colleges across the State through the rehabilitation among other interventions.

He further stressed the need for the government at all levels to place more emphasis on the establishment of skill acquisition centers for the school graduates to learn vocations in addition to their certificates.

According to him, the move will reduce the over dependence on white-collar jobs among the youths in the country.

Stressing the importance of technical and vocational education for the youths in the society, the business mogul explained that for a country to achieve technological advancement and economic development, there was urgent need for government to pay premium attention to Polytechnic education and make it more practical in approach

He appreciated the Rector and other management of Ogun State Institute of Technology Igbesa for bestowing on him the highest honour of the School while promising to do more in uplifting the less privilege in the society.

Alhaji Egungbohun said government alone cannot fund education, he challenged other well to do in the society to adopt a school in the State and make a meaningful impact in such school.

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ICAN, Union Bank of Nigeria Foster Stronger Relationship with Visit

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ICAN, Union Bank of Nigeria Foster Stronger Relationship with Visit

ICAN, Union Bank of Nigeria Foster Stronger Relationship with Visit

 

Lagos, Nigeria—The Institute of Chartered Accountants of Nigeria (ICAN) recently paid a courtesy visit to Stallion Plaza, Union Bank of Nigeria’s Head Office. This visit marks a significant step in fostering a stronger relationship between the two esteemed institutions.

During the visit, ICAN and Union Bank representatives engaged in fruitful discussions to explore potential areas of collaboration and member’s growth within the Bank.

The Union Bank team was led by the Chief Financial Officer, Mr. Oluwagbenga Adeoye FCA, and other notable UBN representatives, including Dr. Abigail Duopama-Obomanu, Chief Compliance Officer, Mr. Ali Kadiri FCA, Head Corporate Bank and Mr. Victor Ikeneku FCA, Head, Business Assurance. The ICAN team was led by the ICAN President, Chief Davidson C.S. Alaribe FCA, Dr. Olumide Adedeji FCA, President of Lagos District and other distinguished members.

The President of ICAN, Chief Davidson C.S Alaribe, appreciated the warm reception and highlighted the importance of such engagements in promoting professional excellence and ethical standards within the accounting and finance sectors. The Chief Financial Officer of Union Bank, Mr. Oluwagbenga Adeoye FCA, emphasised the bank’s commitment to supporting initiatives that enhance the professional development of accountants and ICAN members.

This visit underscores ICAN and Union Bank’s mutual commitment to advancing the accounting profession and contributing to the overall growth of Nigeria’s financial sector.

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Dangote, again crashes PMS Price by N65 to N825 per Litre

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General Buratai Urges Dangote Not To Succumb To Marketers Blackmail, Reveals Why

Dangote, again crashes PMS Price by N65 to N825 per Litre

Dangote Petroleum Refinery & Petrochemicals has slashed the price of Premium Motor Spirit (PMS), or petrol, for the second time this month. It has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot). This follows a N60 reduction on February 1.
The ex-depot price has thus decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days.
This recent price reduction will also ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos.
In a statement from the first privately owned petroleum refinery in Africa, it was announced that the price adjustment will take effect from Thursday, February 27, and is intended to provide essential relief to Nigerians.
“This strategic price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.
“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians. This marks the second reduction of PMS prices in February 2025, following a previous decrease of N60 earlier in the month. Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season,” the statement read.
The refinery highlighted that previous reductions have positively impacted the overall cost of living, benefiting various sectors of the economy. They also helped ensure that Nigerians did not experience the typical fuel scarcity and price hikes associated with the yuletide season.
Dangote reiterated that its high-quality products, which have become a favourite in both domestic and international markets, will remain available nationwide, particularly through its key partners—MRS Holdings, AP (Ardova Petroleum), and Heyden—at market-friendly rates.
“Nigerians will be able to purchase high-quality Dangote petrol at the following prices across our partners’ retail outlets: For MRS Holdings stations, it will be sold for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East regions, respectively.
“The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden stations: N865 per litre in Lagos, N875 per litre in the South-West, N885 per litre in the North, and N895 per litre in the South-South and South-East,” it added.
Dangote Petroleum Refinery assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand and a surplus for export, thereby boosting the country’s foreign exchange earnings.
The refinery called on marketers to support this initiative, ensuring that Nigerians remain the primary beneficiaries of this effort.
“This collective action will contribute to the broader economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is committed to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” it concluded.
Dangote Petroleum Refinery, which has exported its products to Europe, America, Asia, and other regions, recently supplied jet fuel to Saudi Arabia. The refinery has confirmed it holds over 500 million litres of petrol in storage, enough to meet Nigeria’s petrol demand for several days. Additionally, the refining capacity of the 650,000 barrel per day refinery has surpassed Nigeria’s average daily requirement of 385,000 barrels.

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