Bombshell! How Efe Omoregbe Collected =N=9M Interest-Free Loan From COSON In 2 Months, Desperate To Take Control

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Efe Omoregbe

What informed the unrelenting struggle by a dropped board member of the Copyright Society of Nigeria (COSON), Efe Omoregbe, to take over the control of the Collective Management Organisation has emerged after all.

Findings by www.beats-onit,com reveal that despite that a large majority of COSON members in an open process in 2017 had asked Efe to step down from the COSON Board, he has continued fighting desperately in 2019 to cling to a position he may never get. His frustration, an inside source divulged, emanated from the refusal of the board to continue approving his request for more loans from COSON to finance his personal business having earlier on March 31, 2016 and  June 3, 2016 succeeded in obtaining interest-free loans amounting to a whopping nine million naira from the CMO.

A record label owner from the Eastern part of the country who confided in our reporter, said that he could not understand why Efe is fighting as if his future is totally dependent on being COSON Chairman.

Cheque made out to Efe Omoregbe

Another respondent, a COSON staff, seemed to have rammed it home when he revealed the true reason Efe cannot afford to let COSON be. According to the angry staff who pleaded anonymity, the Chairman of COSON Board is responsible for the excesses of Efe.

Said he: “Chief Tony Okoroji is responsible for this Efe Omorogbe rubbish. Okoroji over pampered Efe and it got into his head and he began to deceive himself that he is a big star and that without him COSON cannot stand.

“Everyone knows that Efe Omorogbe was Okoroji’s boy; his favourite on the Board. It was Okoroji that brought him in. Chief Okoroji who is a very disciplined and focused leader had a soft spot for Omoregbe and tolerated his excesses. Efe came to Board meetings just whenever he liked and was perennially the first to stroll out.

“Can you imagine that in 2016 when Efe was elected to the COSON Board, the guy did not even attend the AGM in which he was elected? He was in Abuja doing his private business while COSON members who came from every part of the country were meeting in Lagos. The members were very angry at the effrontery of the man. Chief Okoroji covered up for him”

According to the long standing COSON staff, apart from his repeated absenteeism from COSON meetings and events, one of the major reasons Omoregbe was not allowed to be Chairman of COSON is that there was great fear that he would turn COSON into his personal piggy bank, financing all his convoluted business schemes.

Continued he: “When I see Efe Omoregbe these days craftily fronting as a freedom fighter and ‘Mr. Righteous’, always talking about forensic audit, I laugh at the acting. How many people know that this guy is a habitual borrower, always borrowing money particularly from COSON in millions to finance his private business, Now Muzik Encore Ltd?

“For instance, on March 31, 2016, Efe Omoregbe wrote to COSON asking for an interest free loan of =N=4,000,000.00 (Four Million Naira) which he received by a cheque made to his company, Now Muzik Encore Ltd dated the same March 31, 2016. Barely two months later, on June 3, 2016, Efe Omoregbe asked for another interest free loan of =N=5,000,000.00 (Five Million Naira) from COSON which was collected by his younger brother, Osarhieman Omorogbe. Nine Million Naira in two months. Haba!”

Said the source: “Apart from his unequaled commitment to the welfare of Nigerian musicians, Chief Okoroji is the most transparent leader you can have. COSON has made such tremendous progress because Okoroji does not tolerate any hanky-panky when it comes to COSON money.

“There is no record that Okoroji has ever borrowed one kobo from COSON since the organization’s approval. When Efe came for the first loan, he was told that COSON is not a bank and that the borrowed money which belongs to the members must be returned on time. Indeed, the money was returned as agreed but Efe came back shortly after, passionately asking for a new five million Naira loan.

“At this point, the Chairman who had become concerned told him bluntly that it would be the last time such privilege would be given to him. To get the loan repaid this time was like pulling teeth. It took about a year in which the money was received in small pieces”.

www.beats-onit.com further learnt that Efe Omoregbe and his never-ending borrowing became a major source of discomfort within the COSON management and a decision was taken to bring the borrowing to a stop.

This, however, did not go down well with Omoregbe and his relationship with Okoroji deteriorated. Thereafter, Omoregbe decided that he wanted to be Chairman of COSON. Those in the industry who knew that he was Okoroji’s boy began to prod Efe on so as to take their pound of flesh from Tony Okoroji.

Queried our source, “how can a man with such tendencies expect to be allowed to head such a sensitive organization like COSON? Hey! As a director, he was borrowing fia-fia from COSON. As Chairman, COSON would have been finished!”

When the members of COSON swiftly intervened in 2017 to annul the coup against Okoroji, Efe Omoregbe and his acolytes adopted a ‘Plan B’ to push Okoroji out. They unleashed a massive character assault on Tony Okoroji which led the former President of PMAN to file multiple defamation suits against Omoregbe and his friends.

A Lagos High Court Judge, Justice Josephine Oyefeso, it will be recalled, a few weeks ago ordered Efe Omoregbe to pay Chief Tony Okoroji the sum of =N=200,000.00 as cost for truncating the trial about to begin in two defamation cases brought by Chief Okoroji against Omoregbe.

The money, www.beats-onit.com gathered has still not been paid by Omorogbe at press time. This cost was because close to a year, Efe Omoregbe did not show up in court with one piece of evidence against Chief Tony Okoroji but only sent his lawyer to beg the day trial was scheduled to start in the cases against him.

Emphasised the source: “Efe should stop hiding behind this big lie that he is fighting in the interest of the music industry. He is not fighting in anybody’s interest but his own. He wanted to turn Okoroji into his mugu and Okoroji said no.

“Efe Omoregbe dug the hole that he is in now. Maybe because of the love Okoroji had for him, he underestimated the man and allowed himself to be misled. Everywhere he looks, there is a court case facing him. He should enjoy his stay in the hole and leave innocent Nigerian artistes alone to pursue their careers in peace.

“After all, how many of them knew and how many benefited from the millions he was collecting from COSON? It is shameful that since he cannot lead COSON, it appears that he is determined to destroy what is clearly the greatest organization ever built in the Nigerian creative industry. God forbid!”

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