Prominent Nigerian media entrepreneur and Chairman of the ThisDay/Arise Media Group, Prince Nduka Obaigbena, has dismissed reports circulating on social media and some online platforms alleging that he had fled Nigeria to evade prosecution in connection with a loan dispute with First Bank of Nigeria Plc.
In a strongly worded statement released on Monday, Obaigbena described the reports as “deliberate misinformation and fake news engineered by political and business rivals who are uncomfortable with the growing influence of the Arise News Channel and the independent editorial stance of ThisDay Newspapers.”
The publisher, who has been a towering figure in Nigerian journalism and media innovation for over three decades, stressed that he remains “very much in Nigeria and actively participating in ongoing legal proceedings concerning the said loan matter.”
“The claim that I have gone on self-exile to avoid court processes is false, malicious, and entirely fabricated. I am in town, attending court, and facing all matters transparently. I have no reason to run from a system I have always championed and supported,” he said.
Recent online reports claimed that Obaigbena had allegedly “absconded from Nigeria” after being accused by First Bank of defaulting on a multimillion-naira loan obtained by one of his media companies. Some outlets insinuated that the media mogul had secretly relocated abroad to avoid arrest and possible prosecution.
The stories further alleged that his departure was linked to alleged financial troubles surrounding the operations of ThisDay Newspapers and Arise News Channel, suggesting that creditors were closing in on the prominent publisher.
However, Obaigbena has now categorically refuted these claims, describing them as part of a coordinated campaign to tarnish his reputation and undermine the credibility of his media empire.
“Those peddling these stories know they are false. I have built my life and career in Nigeria and across the world on the foundation of integrity, professionalism, and courage. It is unfortunate that some individuals believe that falsehoods can succeed where truth and facts stand tall,” he stated.
According to the media mogul, the matter in question is a commercial dispute that is already before a competent court of law, and he has been fully represented in all proceedings.
He noted that in a democratic society governed by the rule of law, disputes between financial institutions and private businesses are common and are meant to be resolved through due legal process not through trial by media or sensationalism.
“I am not a fugitive; I am a law-abiding citizen of Nigeria. I am in court, as are First Bank’s lawyers. The judiciary exists precisely to resolve such disagreements, and we are committed to that process. It is irresponsible for anyone to distort facts or publish unverified claims suggesting that I have fled the country,” Obaigbena said.
He emphasized that neither he nor any of his companies had been found guilty of wrongdoing and that attempts to criminalize a civil financial matter reflect a deeper agenda to silence critical journalism.
Obaigbena, known for his outspoken defence of press freedom, alleged that the recent wave of negative stories against him and his media establishments may be politically motivated.
He accused “certain vested interests” of orchestrating a smear campaign aimed at destabilizing Arise News Channel and ThisDay Newspapers, both of which have maintained a reputation for fearless reporting and hard-hitting political analysis.
“The Nigerian media space has always been under pressure from those who cannot stand independent voices. Whenever ThisDay or Arise publishes stories that challenge entrenched power, we see a familiar pattern — attempts to discredit, intimidate, or fabricate stories against us. This is not new,” he said.
The publisher reaffirmed his commitment to defending democracy, transparency, and freedom of the press, insisting that no amount of falsehood or intimidation would deter his resolve.
“Our responsibility is to the truth and to the Nigerian people. No government, business, or individual can silence the voice of facts. Arise News and ThisDay will continue to report fearlessly, professionally, and fairly — no matter whose ox is gored,” he declared.
Obaigbena’s denial has sparked widespread reactions within Nigeria’s media and business circles. Colleagues and stakeholders in the industry have rallied in his defence, describing him as a “resilient media icon” who has consistently weathered both economic and political storms.
Kabiru Yusuf, President of the Newspapers Proprietors Association of Nigeria (NPAN), described the allegations of self-exile as “implausible and malicious,” noting that Obaigbena remains one of the most visible figures in the Nigerian media landscape.
“Prince Nduka Obaigbena has been at the forefront of defending media independence in Nigeria for decades. He is not the type of person who would abscond from the country. These reports appear to be politically motivated and lack credibility,” Yusuf said.
Similarly, Mr. Femi Adesina, former presidential media adviser and veteran journalist, said Obaigbena’s long-standing record as a journalist and entrepreneur speaks for itself.
“He is one of the pioneers who built Nigeria’s modern media. Whatever challenges he faces should be treated within the bounds of the law and not sensationalized. We must be cautious about weaponizing falsehood against our national institutions,” Adesina said.
Legal experts also weighed in, clarifying that disputes over bank loans or corporate financing are civil matters, not criminal offences.
A Lagos-based commercial lawyer, Barrister Madu Chukwuma, explained that such issues are typically resolved through the courts or arbitration, and do not warrant the kind of public speculation being peddled online.
“Even if there were a disagreement between Mr. Obaigbena’s companies and the bank, it is a civil debt matter. No one ‘flees’ a civil case the law allows for negotiation, restructuring, or litigation. The narrative that he is running from justice is baseless,” Chukwuma noted.
He added that media personalities and business owners often face smear campaigns when involved in legal disputes, especially when the stakes are high or politically sensitive.
Prince Nduka Obaigbena, often referred to as “The Duke,” is one of Nigeria’s most influential media entrepreneurs. He founded ThisDay Newspaper in 1995, which quickly grew into one of the nation’s most authoritative publications known for its in-depth political, business, and cultural reporting.
In 2013, he launched Arise News Channel, an international television network with operations in Nigeria, London, and New York. The channel has since earned global recognition for its bold journalism, particularly its extensive coverage of governance, economics, and human rights issues in Africa.
Over the years, Obaigbena has faced numerous business and political challenges but has continued to sustain his media enterprises amid Nigeria’s difficult operating environment. His recent attendance at public events in Abuja and Lagos further contradicts claims that he has fled the country.
In his concluding remarks, Obaigbena urged Nigerians to be wary of fake news and the increasing weaponization of misinformation in public discourse. He called for greater accountability among online media platforms and influencers who spread unverified claims for clicks and political gain.
“We live in an era where falsehood travels faster than truth. But the truth will always prevail. I urge Nigerians to verify stories, respect facts, and hold to account those who misuse the power of information to mislead the public,” he said.
He reaffirmed his confidence in the Nigerian judiciary, expressing optimism that all legal matters involving his media group and financial institutions would be resolved in line with due process.
“I have full faith in our courts. We will continue to engage through lawful means. The truth will stand and so will we,” Obaigbena concluded.
The controversy surrounding the alleged loan dispute between Nduka Obaigbena and First Bank highlights broader concerns about media freedom, misinformation, and the intersection between business and journalism in Nigeria.
As the courts continue to address the matter, one fact appears clear the publisher of ThisDay and Arise News insists he is not in hiding, has not fled Nigeria, and remains firmly committed to defending both his reputation and the independence of the Nigerian press.
“I am in town and in court,” he reiterated. “That’s the truth everything else is fake news.”
Stay ahead with the latest updates!
Join The Podium Media on WhatsApp for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
Chat with Us on WhatsApp
