A senior editor in the Nigerian media industry, Olawale Olaleye, has dismissed as “absolute baloney” the viral social media claim that Prince Nduka Obaigbena, Chairman of THISDAY and Arise Media Group, has gone on exile.
In a post reacting to the circulating report, Olaleye described the claim as a deliberate attempt to malign the reputation of Obaigbena, whom he said is “having the best of his life in his house.”
He questioned the credibility of those behind the story, noting that it originated from “disreputable sources” and was being pushed by people outside the country.
Power Of Favour? (Silent, Powerful, Spiritual) Don’t miss out on your desires. You are not the only one pursuing them. Command power of favour to achieve your heart desires: In your undertakings. Work. Job. Career. Profession. Business. Politics. Workplace. Powerful position. Patronage. Selling. Contract. People/ crowd. Global fame. Love matters. Etc.. Spiritual Consultation On: Spiritual power of favour over efforts alone for desired outcome. Overcome delay with power of favour. Overcome rejection with power of favour. Other matters. For Spiritual Consultation, Guidance, Contact: DR. J.A FAROS: Call/ Whatsapp: 0 7 0 3 0 5 1 4 0 6 3. Sango-ota. Lagos. Nigeria. Distance no barrier( 3 options) By Unlimiting Power of God, Every Dream materialized.
“A man who is having the best of his life in his house is allegedly on exile. Interesting! Yet, those promulgating this hogwash are not doing so from the soil of this land. Can you imagine?” Olaleye wrote, adding that anyone believing the story “needs a refund of their education funds.”
The viral posts had alleged that Obaigbena fled Nigeria amid a debt dispute between his company, General Hydrocarbons Limited, and First Bank of Nigeria.
According to the claims, the bank is seeking to recover about $225.8 million from General Hydrocarbons, which it said guaranteed a $490 million loan to Atlantic Energy Drilling Concepts Limited in 2011.
The report also stated that a Federal High Court in Lagos granted a Mareva injunction freezing the assets and accounts linked to General Hydrocarbons and its directors, including Obaigbena. However, sources close to the media entrepreneur insist he remains in Nigeria and continues his normal activities.
Obaigbena has long maintained that the dispute with First Bank is being misrepresented, arguing that the bank failed to meet its obligations under a tripartite deed involving the Asset Management Corporation of Nigeria (AMCON).
He also accused the bank of negligence that led to an international incident involving a drilling rig, Blackford Dolphin, which ran out of fuel and supplies with 93 workers on board before his company intervened.
The case is still before the court, but those close to Obaigbena say the social media claims of exile are nothing more than a smear campaign against one of Nigeria’s most prominent media figures.
“Absolute baloney!” Olaleye wrote in conclusion.