Company CEO Under Investigation For Alleged Fraud
Former CEO Solabomi Okonkwo could be in hot waters over allegations of fraudulent activities affecting experiential marketing and BTL agency, NM En.Core Ltd where she worked until May 10, 2017.
Her 3-year stint with the Omole Phase 2-based company is reported to have come to an inglorious end when evidence emerged that Mrs. Okonkwo without the knowledge of the board, had registered a purported subsidiary, Core Experiential Marketing Ltd and gone ahead to introduce the company to key agency clients and in a manner suggestive of fraud, allegedly diverted the accounts to her new company while operating out of NM En.Core’s office as CEO.
A source close to the company stated, “It is a case of gross abuse of trust but someone of her education and experience ought to have been more tidy in executing her plots. Mrs. Solabomi Okonkwo’s hurried resignation raised eyebrows. When her company email account showed that she had deleted 5 months of official correspondence, the board had to launch an investigation. Unfortunately for her, Solabomi left a revealing paper trail of her ill-advised, well-calculated but poorly executed unlawful appropriation of key company accounts.”
Investigation has further revealed that Solabomi executed the diversion in collaboration with company employees – Olanike Otenaike, Temitope Owojaye, Cynthia Ejimnkeonye and Gloria Iwuh. Under questioning, the affected members of staff claimed they received instructions from Madam Sola and had no idea that Core EXM wasn’t an En.Core subsidiary or affiliate but CAC documentation reveal that two of them, Olanike Otenaike Adunola and Owojaye Ige Temitopeluwa along with Tolani Otenaike Tolulope and Adunni Eyitemi Taire Adefunke – who have done business with NM En.Core – as directors of the illegality and immorality, Core EXM.
The company has since issued a disclaimer through its lawyers telling the general public and clients that Core Experiential is in no way associated with Now Muzik Encore. The company lawyers are currently in active engagement with the police and the EFCC.