Stories by Raheem Akingbolu
This is not the best of time for the management of Media Share, a media buying agency located in Opebi, Lagos. Since late last year, the agency has been battling with a court case over its refusal to pay the sum of N11,199, 795.89, being the advertising services handled for three of its clients Nestle, DStv and Airtel between 19th March, 2010 and 14th December, 2013 by Prime Media. The services were said to have been handled for some major projects, which included; DStv alternative Payment on NTA network, Airtel Club 10 on NTA and Nestle H1 Strenght 15” animation also on NTA network.
Until last year when Prime Media dragged Media Share before a Lagos High Court, the two agencies were said to have engaged in dialogue. At the initial stage, the total amount was put at fifteen million but the two agencies agreed on twelve million at one of their meetings. Precisely, at a meeting held on the 11th of February, 2015, Media Share and Prime Media agreed and accepted N12, 288,008.39 as the outstanding sum due to Prime Media from Media Share. In an agreement paper obtained by THISDAY, Mr. Lawson Adekunle Ayodeji, signed for Media Share while Mr. Daniel Adeniran signed for Prime Media.
In what looked like a positive move, Media Share, had agreed at another meeting on 2nd of June last year to pay by monthly installment of N1, 088,212.50. But after a lone payment of the installment with payment voucher no: 10253334, everything suddenly stopped with no sign that the agency was ready to keep its words.
As a result of this, Prime Media went to court late last year to challenge the management of Media Share. As things are, one thing that is clear is that the two agencies agreed on the debt but in spite of that, nothing has shown that Media Share is ready to pay. Meanwhile, THISDAY check revealed that the three companies that hired Media Share for the various projects have since paid. But only the agency knows why the money is still being withheld.