Michael Ugwu, the former CEO of iROKING, a now-defunct streaming platform, says he has been acquitted of the charges brought against him by Jason Njoku, the co-founder and CEO of iROKO Partners.
The businessman, who now doubles as the CEO of FreeMe Digital, a media brand, had worked with iROKING from August 2012 to October 2013.
Ugwu was, however, sued by iROKO Partners after he was dismissed from his role at iROKING in a development that left the businessman in a protracted legal battle with his former employers.
On Thursday, Ugwu took to his social media page to share a statement in which he revealed that the Nigerian Industrial Court sitting in Ibadan has acquitted him of the charges.
“7 years ago, I exited the now non-existent Nigerian music streaming platform, iROKING as CEO,” he wrote.
“I exited amidst contentious circumstances but still maintained that there was a boardroom decision prior to my exit to wind up a loss-making iROKING as far back as 2013.
“Despite this, Jason Njoku, co-founder and CEO of iROKO partners, decided to institute legal proceedings against me which was his legal right.
“Over the last 7 years, I have been quite busy setting up Freeme Digital along with its divisions, Freeme Music, Freeme TV, FM Publishing and The Freeme Space.
“I have had to defend myself in both the Federal High Court and the National Industrial Court in Lagos and Ibadan against Jason Njoku’s claims. 7 years later these court proceedings have finally reached a verdict.”
On the court’s verdict, Ugwu said he won his claim against iROKO Partners on his outstanding salary of October 2013.
“November 12th 2020, judgement was delivered by the Nigerian Industrial Court sitting in Ibadan. The court agreed with all of the submissions in my defence and all of iROKO Partners claims were struck down,” he added.
“I was also successful in my counterclaim against iROKO Partners in respect of my outstanding October 2013 salary and salary in lieu of termination.
“Additionally, the court awarded me interest on the above sum at 10% per annum from October 2013 to liquidation.
“This, for me, is about principles. The sums are negligibly juxtaposed with the monumental waste of time these legal proceedings have had on myself, my family and my company.
“Regardless of everything, I sincerely wish Jason Njoku and the iROKO family the best in their future endeavours and I hope that this matter can now be put to bed and all involved can move on with their lives.”
As of the time of this report, Njoku, who was recently discharged from the hospital as he continues to recover from COVID-19 at home, is yet to speak on the development.
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