COSON SET TO IMPLODE AS DIRECTORS INSISTS RETURNEE OKOROJI REMAINS SACKED

LAGOS, Nigeria – All is not set for Copyright Society of Nigeria, (COSON) to implode and it seems unavoidable in a matter of days.

This is because all the directors of COSON, except very few and prominent members of COSON have insisted that Chief Tony Okoroji who assumed the position of chairman just a week after he was sacked as COSON chairman no longer has role to play in the society.

Okoroji who has been chairman of COSON for almost two decades was eased out of the system few months back by simple majority vote by the board of directors while Efe Omoregbe, Chairman Now Musik was elected as Chairman.

But Okoroji returned only to assume chairmanship of COSON, few week later and issued a letter to that effect stating that all the issues that led to his exit have been resolved.

But at a crowded press conference addressed by Efe Omorogbe, Dare Fasasi , Obi Asika , Audu Maikori, Sikiru Agboola ,Joel Ajayi, Paul Okeugo all elected board of directors and Zaki Azzay among others, the musicians who are major stakeholders of COSON insisted that Chief Okoroji remains sacked as chairman of the organisation.

“While we, – Efe Omorogbe, Dare Fasasi, Obi Asika, Audu Maikori/Paul Okeugo, Sikiru Agboola, and Joel Ajayi- duly elected, long-serving members of the COSON board have been steadfast in our commitment to ensuring that the society is run in strict adherence to the regulatory guidelines and high corporate governance standards, Tony Okoroji and the beneficiaries of his misdeeds have pursued an agenda that has threatened to derail the society from its statutory duties.

“Under the guise of political expediency or brand building, Okoroji has canvassed many positions and implemented several actions that are clearly motivated by personal profit and a desperate desire to maintain a stranglehold of the reins at COSON. Okoroji had also usurped the role of the General Manager/Chief Executive of the society and perfected an elaborate scheme to get rid of directors who oppose his infractions.

“The former chairman, Tony Okoroji betrayed the trust and lost the confidence of the directors who appointed him as chairman and was consequently sacked by a 6-4 vote witnessed by the NCC’s representative, Obi Ezeilo at the December 7, 2017, emergency board meeting. It is noteworthy that 3 out of the 4 votes in his favour were by himself, Azeezat Allen and John Uduegbunam – all guilty of the unethical and illegal act of acting as paid consultants to the society”, they said.

They averred that Okoroji’s sack was in line with the COSON MEMART and therefore legal and incontrovertible.

“Members of the management board are elected at the AGM by the general assembly and the directors, in turn, elect a chairman by simple majority vote to lead the team in a non-executive capacity. The General Assembly does not appoint the chairman”, they explained.

According to them, Tony Okoroji was sacked as chairman, and not as a director, after hours of deliberations on issues surrounding the illegal dissolution of standing committees and the board’s position in reaction to a petition addressed to it by concerned stakeholders.

The petition, the directors noted was written by respected stakeholders and COSON founding fathers (Evangelist Ebenezer Obey – Fabiyi (MFR)-: Himself, Obey Music & Pioneer Music/Afrodisia; Mr. Bode Akinyemi – : Ivory Music; Chief OsitaOkeke – : OssyAffason Ltd; Chief Rogers Okonkwo – : Rogers All-Star Records; Mr. Laolu Akins – : Artist, Composer & Publisher and Mr. Toju Ejueyitchie – : Premier Music Publishing Ltd), the petition raised pertinent questions about the running of the society by the board under Tony Okoroji.

The directors noted that Okoroji was sacked because the board is dissatisfied with the clear conflict between him acting as Executive Chairman of COSON, and him acting as a contractor and consultant to COSON through his company TOPS and other vehicles.
The board argued that it was dissatisfied with the continued engagement of companies owned by fellow directors, Azeezat Allen and John Uduegbunam as consultants to COSON and disapproval of the manner of handling of an earlier petition by Premier Music Publishing Company Ltd (the owner of over 1,000 musical works and sound recordings), personalization of the issues and misrepresentation of the directors’ true sentiments in his response to the NCC query on the same petition.

Other queries include “disapproval of the conduct of the chairman on the issue of negotiation and payment of the contractor who handled the renovation work at The COSON House; disapproval of the chairman’s claim of 10% commission on licensing income deemed to have been “brought in” by him; disapproval of the 15% commission claimed by TOPS/Creative Legal from MTN’s settlement payment and the fact that the sum of N22,500,000.00 was paid out without the knowledge, approval and signature of the finance committee chairman, Joel Ajayi and other members.

They explained that as a rule, signatories do not sign cheques to themselves as beneficiaries and payments above N2,000,000,00 require board approval. Other queried include disagreement with the hurried and what they called illegal dissolution of all standing committees in the absence of key members.

“Total lack of confidence in the credibility and ability of the chairman to superintend any proposed restructuring process that will enthrone world-class corporate governance to protect the society from unethical business practices and abuse of office; disapproval of Okoroji’s request for the board’s approval for COSON to underwrite a quoted sum of N26, 200,000.00 as cost incurred by his company, TOPS in the execution of The COSON Week – a series of events which contractually, are allowed to hold on the condition that the production company can independently generate the funding.

“ For three editions in a row, the board has had to approve the bill, with no oversight, no insight, no tenders, the board was no longer prepared to allow the Chairman’s greed to consume COSON”, they said, adding that following Okoroji’s sack, the board voted Efe Omorogbe as chairman and with immediate effect, banned directors and their companies from operating as vendors or consultants to COSON under any guise.

“The board also commenced engagement with PWC and KPMG for auditing and strategic growth support. The reality of impending probe and the loss of his control of his personal cash cow triggered Okoroji desperate and ill-advised response at the December 19, 2017, EGM.

“Okoroji and his acolytes hijacked the EGM that was convened specifically for the approval of the proposed sum for 2017 royalty distribution and re-instated himself as chairman via mob action. He went on further to sack an elected board and upturned all protective resolutions passed by the legal board on December 7, 2018.

“We stand here today to declare that the purported reinstatement of Okoroji, the sack of the existing board, and the selection of the gang of yes-men being paraded as the new board of COSON is completely illegal and will not stand. We direct management to discontinue taking directives for the illegal board forthwith. We reiterate our call to the Nigerian Copyright Commission to intervene without delay and discharge its duties as a regulator to COSON.

“We call for a full forensic audit of COSON business activities under Okoroji and appropriate sanctions if found guilty of the listed infractions or more. We enjoin the members of the society and the general public to disregard the circus being performed by Okoroji and his acolytes and reassure them that the society is well protected and will not be turned into anyone’s personal hustle.

“We call on ALL right owners to take more than a passing interest, get actively involved and protect their society from fraudulent “messiahs” and their desperate disciples”, they said.