The Performing Musicians Employers’ Association of Nigeria (PMAN) has clarified that its joint venture (JV) with Olusco Heritage & Investment Ltd has not been terminated, contrary to recent reports.
In a statement issued by its National Executive Council (NEC) under the leadership of Chief Fruitful Mekwunye, PMAN noted that only the recognized leadership has the authority to make pronouncements on the association’s contractual agreements and partnerships.
“For the avoidance of doubt, the NEC wishes to clarify that no termination of the JV has been effected by PMAN. Any report suggesting otherwise does not represent the official position of the Association,” the statement read.
According to PMAN, the status of the JV with Olusco Heritage & Investment Ltd is currently under review, following resolutions passed at a recent NEC meeting. The association also disclosed that discussions are ongoing with Olusco to address a dispute between the company and its partner, which is currently before a court of law.
The association emphasized that no individual outside of its present NEC leadership is empowered to determine, alter, or announce decisions regarding PMAN’s properties, contracts, or joint ventures.
PMAN urged the public, stakeholders, and regulatory authorities to rely only on communications from its NEC, while reaffirming its commitment to protecting members’ interests, resolving disputes lawfully, and cooperating with relevant authorities.
