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Shaka Momoh, CEO Planet 1 Dies From COVID-19 Complications

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Covid-19 pandemic has yet again claimed the life of another well-known businessman and socialite, Shaka Momoh. He succumbed to complications from the virus today at Lagos University Teaching Hospital, LUTH.

A lifestyle enthusiast, Shaka Momoh left an imprint in the lifestyle and entertainment sector of the economy with his very popular Planet One Hospitality Company Limited in Maryland, Lagos, which was at one time the rave in entertainment and lifestyle circles.

Unfortunately, the swanky hotel which once hosted rappers, Missy Elliot, The Game, etc in its heydays, suffered a huge debt profile that took the shine off the once bubbly outfit.

WEMA Bank, the major bank Planet One transacted with, had approached Momoh, offering him an N500 million loan to improve the hotel which already had a state of the art facilities

Following the acquisition of the loan, a mysterious fire engulfed a section of the hotel. Due to the fire mishap, Momoh could not service the loan and the interest on the loan shot up to over N260 million.

But after a round table discussion with the bank, the loan was adjusted to approximately N750 million.

Seeing that it could be difficult for Momoh to pay off the loan and the interest that has accrued on it, Golden Tulip, approached Momoh with a deal to buy him out.

They offered to pay N800 million first tranche, another N800 million second tranche and yet another N800 million third tranche. However, WEMA bank reportedly scared off Golden Tulip by changing gear that the loan was now over N1billion.

Other potential buyers were scared off by WEMA bank as well with the bank eventually dragging Momoh to court over his inabilty to pay off the loan.

While the case was still in court, WEMA Bank reportedly sold Planet One to someone else. That sheer impunity displayed by WEMA bank and the fact that Shaka Momoh sunk in, virtually all of his resources into Planet One which was now, no longer his, was one blow too many.

The businessman simply disappeared from the radar.

His other commercial interests which weren’t quite as popular as Planet One were: Hospitality Warehouse – a hospitality products wholesale company; Baobab Edge Limited – a lifestyle company; Basic Information and Communications System Limited (BICS) – a technology and ICT solutions company offering e-Government Solution, CRM, HRM, Outsourcing and Education & Training Solutions in Nigeria. BICS boast of international partnership with AYA Technologies AG (Switzerland), CustomerSoft (USA), Knovada (USA) and NIIT (India) to provide such global solutions with local address.

A graduate of business administration from Auchi polytechnic, Shaka Momoh was a philanthropist who dispensed his goodwill via his Baobab Foundation.

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Why PDP Did Not Take Disciplinary Action Against Wike – Bode George

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A chieftain of the Peoples Democratic Party (PDP) Bode George says the party is working on reconciling its members including a former governor of Rivers State Nyesom Wike.

Wike, now the minister of the FCT under the ruling All Progressives Congress (APC), fell out with the PDP hierarchy in the lead-up to the presidential election of last year.

He and a group called G-5 including then-governors, worked against the PDP in the presidential election, insisting the southern part of Nigeria ought to produce the party’s flagbearer.

While many have questioned Wike’s membership of the party with others calling for sanctions against him, Bode George says the PDP is working to settle its matters.

“There is a standing committee. They are going to add more members to do a post-mortem analysis,” he said on Thursday’s edition of Channels Television’s Politics Today when asked about Wike attending the party’s national executive council meeting even while serving under the APC.

“We don’t want to start firing because there are one or two people that are still thinking about the past. The party must move on.”

“It is an issue in the party. It should not be resolved in the marketplace,” the PDP chieftain said, insisting “We are going to settle our own matters like a family.”

Bode’s party was the runner-up in the 2023 presidential election, losing to the ruling APC. Atiku Abubakar, a former vice president, was its flagbearer in that exercise and also in 2019.

Despite opposition to his candidacy especially from Wike’s camp after he clinched the ticket for last year’s election, there are speculations that Atiku may be the party’s flagbearer in 2027 when Nigerians go to the poll.

But Bode said “time would tell” if the former vice president will run again.

“It [PDP] is not a private enterprise,” he said on the show.

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Concerns Raised By PDP BoT Over Damagum And Anyanwu’s Prolonged Tenures

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The Peoples Democratic Party’s Board of Trustees has raised questions about the continued tenure of Umar Damagum, the party’s acting National Chairman, and Samuel Anyanwu, the National Secretary.

There have been growing concerns among party members regarding the prolonged stay of Damagum and Anyanwu in their current roles.


Damagum, who previously served as the PDP National Deputy Chairman (North), took on the role of acting National Chairman following the suspension of the party’s National Chairman, Iyorchia Ayu, by the court in the previous year’s March.

Anyanwu, who is also the PDP candidate for the Imo State 2023 governorship election, has caused a dilemma in the South zone over appointing a replacement. Despite this, he managed to retain his position as the party secretary after a contest with Governor Hope Uzodinnma.



Both the PDP’s National Working Committee and National Caucus recently expressed their full support for Damagum’s leadership of the NWC during meetings held on Wednesday and early Thursday.


Addressing the issue at the party Headquarters in Abuja on Thursday, the PDP BoT Chairman, Adolphus Wabara, emphasized the importance of reflecting on the party’s current state and the necessary steps to move forward.

He asserted that amidst challenging times, Nigerians look to the party to lead the charge in rescuing the nation from the grip of the All Progressives Congress. He raised concerns about the prolonged tenure of the acting Chairman and the unresolved issue of the National Secretary’s office.


Wabara urged for urgent resolution of these matters in accordance with the party’s constitution, emphasizing transparency and fairness for the party’s best interests and unity.

He added that as the party approaches a new phase with upcoming changes in executive structures, there is an opportunity to rejuvenate and position the party strategically for the future.


Damagum, in response, assured ongoing consultations to rejuvenate the party’s position, especially with upcoming elections in Edo and Ondo states.

He expressed confidence in the party’s performance and prospects in the upcoming elections, highlighting the collective efforts that will lead to success in the polls.

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PDP NEC Meeting: Ex-Minister, Chidoka Warns Of Impending Disaster

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Ahead of the Peoples Democratic Party, PDP, National Executive Committee, NEC, meeting scheduled for today, a member of the party and former Minister of Aviation, Osita Chidoka has warned that any decision taken at the meeting could either make or mar the party.


In a statement he issued on Wednesday night, Chidoka told the PDP governors and the National Assembly Caucus that any attempt by the PDP NEC to undermine the party’s constitution, may lead to “disaster that could sink the ship of the party”.

Recall that the NEC meeting coming up later today would, among other things, address whether the current acting National Chairman, Umar Damagum, should retain his position or be replaced.


Recall that Damagum, who was the PDP Deputy National Chairman, North, emerged as the acting National Chairman of the party following the indefinite suspension of Iyorchia Ayu, in March 2023 by a court in Benue State.

While some of the party’s stakeholders believe that a member from the North Central must be elected to complete Ayu’s tenure as stipulated in the party’s constitution, others have endorsed Damagum as the next substantive chairman.

But according to Chidoka, “if at the NEC meeting, the Party fails to uphold the constitutionality and respect for the rules of the party, then I and other progressive members will not hesitate to lead the pallbearers to the funeral of the party as we know it.


“The party must put an end to its submission to filthy lucre and macabre dancing to the music of unprincipled pipers.

“It must return to the role of providing good governance to its states and principled opposition that Nigerians can trust.

“If the party’s ship is not steered away from the gigantic iceberg prominent on its path, the consequences will be dire.


“It is a matter of grave urgency to save the soul of the party that ushered and stabilised democracy in Nigeria.

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