Two years after the popular Ultima Studios located on Plot 45, Omole Industrial layout, Isheri-Ogba junction, Ikeja Lagos State, was gutted by fire, nothing has been done about rebuilding the place.
The multimillion naira property which is owned by Alhaji Muhri Gbade Busari, the popular businessman, who owns Muhri International Television, (MITV) and Star FM was leased to Mr. Femi Ayeni’s Ultima Studio years back only for it to burst into flames during one of the rehearsals of Season 3 of Project Fame West Africa, the biggest music reality show in Africa, sponsored by communication giant, MTN.
Then, there was a serious controversy over the real worth of the property that got destroyed during the inferno. However, while Ultima Studios initially said their properties were insured, it was later revealed that only a couple of equipment in the studio was really covered by the insurance policy they were servicing.
Although Ultima Studios tried to haggle with the insurance company, as the days became weeks and weeks turned months and now years, it became obvious that they were going to lose millions of naira due to the fire, as the newly installed equipment and the upgrading which the studio had received had not been included in the contract, they had earlier signed with their indemnity outfit.
While the Mr. Ayeni-led studio were able to move the shoot of the show to another location at Bamako Street, in the same Omole Industrial layout, Isheri road, Ikeja, Lagos State and continued their business after bringing in an expert to build another studio, it wasn’t the same for Alhaji Busari whose property had been burnt to ashes, as his own show just couldn’t go on. In fact, his property remains a no go area after over two years that the fire incident took place.
Initially, talks about the reconstruction of the place are abound, but it all ended up as a rumour, as gradually people started realizing that nothing of such would ever happen.
If you are still wondering why, well it is simply because rather than come to the round table to discuss how to manage the situation and rebuild the studio or at least the structure that was destroyed, Mr. Ayeni, who has been building his own studio in upscale Lekki Phase One, Lagos State was alleged to have simply pumped all the resources at his disposal, both funds from his sponsors MTN and his insurance company into the new structure and before Alhaji Busari knew what was happening, Ultima Studios simply relocated to the Lekki axis of Lagos State, even though they still maintain an office space in Omole Estate, Ikeja, Lagos State.
Efforts by Alhaji Busari to see his one-time tenant did not prove possible as Mr. Ayeni was alleged to have been mysteriously unavailable. This game was allegedly played by Mr. Ayeni for a long time while his staffers, we gathered, were told to maintain total secrecy in relation to the new studios in Lekki, Lagos State.
While the old Ultima Studios in Omole are still in a sorry state, and the new one in Lekki is already operative, sources close to www.theoctopusnews.com revealed that things might just get dirty with the two businessmen, if something is not done soonest to settle the mess between Mr. Ayeni and Alhaji Busari. As it is presently, our source revealed the battle line seems to have been drawn between the two men.
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